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Porting, Assuming, or Breaking A Mortgage: What You Need to Know

Updated: November 26, 2019 Before you sell your home, you will have to decide what to do with your current mortgage. There are three possible options: porting your mortgage, assuming a new mortgage, or breaking your mortgage.  You need to understand what each of these options entails so you can better decide which is best […]

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Banker vs Mortgage Broker – What’s the Difference?

When you’re looking to get a mortgage you’ll likely to end up at either a bank or a mortgage broker through a mortgage brokerage. While both are able to provide you with the mortgage you’re looking for how they go about it can be very different. What is a “Banker”? A banker is someone who […]

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CMHC Mortgage Loan Insurance Premium Updates

The CMHC recently announced that as of March 17, 2017 they will be increasing their homeowner loan insurance premiums. For most prospective homeowners these changes to premiums will likely result in an additional $5 to $10 per month compared to their old premiums. This change is coming in to affect mostly due to OSFI’s change […]

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Obtaining a Mortgage When You Are Self Employed

There is a persistent myth that continues to make its way around homeowner circles that as a business owner it is next to impossible to get a mortgage. Some people even believe that you will be disqualified immediately if you bring less than a 25% down payment to the table, but how much of this […]

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Your Mortgage: More than Just an Interest Rate

At Mortgage Connection, our mortgage brokers are committed to looking after your best interests. That includes getting you a low interest rate. However, the interest rate is just one of many aspects of a mortgage. There are other key factors that need to be considered when you are determining which mortgage solution is best suited […]

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Assessing Home Affordability in the Wake of New Mortgage Rules

The mortgage industry recently underwent a large change in the way high-ratio mortgages are now qualified and approved. A high-ratio mortgage is a mortgage where less than 20% of the total value of the home is being put forward as a down payment. While these mortgages traditionally required CMHC insurance the qualification process for them […]

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