Your home value

Your home value Whether you’re purchasing a home or looking to refinance, determining a property’s value is an essential step in the mortgage application process. You can help by providing precise and accurate information about your property. The value of a property is determined by a number of different criteria, each of which can influence how much your home is …

Will a ‘Credit Inquiry’ Lower My Score?

Will a ‘Credit Inquiry’ Lower My Score? Your ‘beacon score’ is an indicator for a lender as to whether a client is likely to make payments on time and in full. Beacon (credit) scores are sometimes referred to as FICO scores, and both names are derived from the credit bureaus that developed the scoring system. Keeping track of this important …

Why your mortgage term matters

Why your mortgage term matters Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best …

When does it pay to break your mortgage?

When does it pay to break your mortgage? With mortgage rates at “emergency” levels – low rates not seen by your parents and possibly even your grandparents – chances are you’ve considered breaking your current mortgage and renewing now before rates start to rise. Perhaps you want to free up cash for such things as renovations, travel or putting towards …

What’s the trick to a better mortgage rate

What’s the trick to a better mortgage rate Have you ever wondered why banks have “posted” mortgage rates, yet they’re willing to offer mortgages below these interest rates to some borrowers in Toronto? The Bank of Canada (BoC) wanted to find out how consumers can get the very best mortgage rate, which led to the undertaking of an extensive study …

Using Home Equity to Your Advantage

Using Home Equity to Your Advantage Canadians purchase homes for a variety of reasons. Some want the stability of owning their own home, while others prefer to look at home ownership as an investment vehicle. No matter what the reason, the truth is that home ownership has proven itself to be a good stable investment over time, and one which …

Understanding the Twelve Keys that Drive Real Estate Values

Understanding the Twelve Keys that Drive Real Estate Values 1. Mortgage interest rates Low interest rates allow a greater proportion of renters to become homeowners, which in turn can lead to an increase in home sales and therefore push prices higher. That said they don’t significantly increase mortgage costs (on a $100K mortgage a quarter % increase in rates only …

Understanding the hidden costs of buying a home

Understanding the hidden costs of buying a home   Purchasing a home can be a stressful experience for anyone, but especially for first-time buyers who may not be aware that there are a host of costs associated with buying a home other than the actual purchase price and real estate commissions. It helps to know what those costs are in …

Top 10 home staging ideas

Top 10 home staging ideas For many home owners, the concept of profes¬sional home staging is shedding new light on how to promote a home in their real estate marketplace. If you’re thinking of selling your home, deciding on the best ways to organize your property before the “For Sale” sign is erected can help sell your home faster and …

Top 7 Ways to Improve Your Curb Appeal

Top 7 Ways to Improve Your Curb Appeal When potential buyers drive up to your house, the first thing they see is the front of your house. And, buyers know that usually the exterior of the house is a good indicator of the inside of the house. The old saying that you shouldn’t judge a book by its cover does …

Tips to pay down your mortgage faster

Tips to pay down your mortgage faster With interest rates at an all-time low, many Canadians are taking advantage of the savings by refinancing their mortgages to consolidate debt, make home renovations, invest in real estate or other ventures, or moving up the property ladder. Following are ways to take even further advantage of this excellent rate environment by paying …

The value of a rate hold

The value of a rate hold Securing a rate hold is like having insurance on your mortgage rate – you no longer have to worry about mortgage rates increasing while you find your new home over the next 90-120 days. And if rates drop within that same period, so too will your preapproved rate. For instance, if you obtain a …

The Seven Steps to Finding and Buying Your Dream Home

The Seven Steps to Finding and Buying Your Dream Home Have you decided that it is time to take the plunge and purchase the home you’ve always wanted? Have you been saving up money for a down payment, and now reached the point where you want to purchase your first home or make an upgrade? The process of finding and …

The power of mortgage prepayments

The power of mortgage prepayments Canadians seeking a sure-fire investment return should look no further than their mortgage. Paying it down as quickly as you can will, in most cases, result in a stellar return on your investment. Prepayment options are worth exploring because paying down even a small amount of principal (the true cost of the mortgage loan minus …

The importance of portability

The importance of portability Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, …

The importance of credit

The importance of credit A good credit report and credit score are important factors in determining whether you will be approved for a mortgage. Following are some simple steps you can take to maintain a good credit history and improve your chances of being approved. What is a credit score? Your credit score is a number that illustrates your financial …

The Canadian Credit Bureau Story

The Canadian Credit Bureau Story If you have ever taken out a loan, used a credit card or participated in a “buy now, pay later” offer, you will have a credit history. Your credit report contains personal information, credit information, banking information, public records (bankruptcies or credit related judgments against you), collection information, consumer statements and credit report inquiries. Before …

Ten Tips to Paying Off Your Mortgage in Only 10 Years

Ten Tips to Paying Off Your Mortgage in Only 10 Years Mortgages here in Canada are generally amortized over a 25 year term of repayment; this is the standard which has been in existence for many years. While this is the standard, it does not have to take anyone that long to pay off their mortgage if they choose to …

SHOULD YOU SKIP A MORTGAGE PAYMENT?

SHOULD YOU SKIP A MORTGAGE PAYMENT? Lenders are advertising the option of skipping a mortgage payment more often these days – with one major bank even creating a TV ad! But unless this is your only option, it’s not recommended that you skip a payment because, like most ads that sounds too good to be true, this option is as …

Selling Your Home for Maximum Profit

Selling Your Home for Maximum Profit When you decide it is time to list your home for sale, it is important to then work on getting the best possible sales price, and ultimately the highest profit from the sale that you can. To this end, there are four factors which will determine the price that your property will sell for. …

Self-Employed mortgage solutions

Self-Employed mortgage solutions If you’re self-employed, you may have a more difficult time obtaining financing for your real estate purchases than you encountered prior to the credit crisis thanks to tighter lending criteria in lieu of the recent recession. But if you can prove your income, show you’re up-to-date on your taxes and that you have solid credit, your chances …

Selecting your best mortgage term

Selecting your best mortgage term Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best …

Saving money through debt consolidation

Saving money through debt consolidation We are benefiting from one of the best mortgage environments in history. Take a look at the interest rates on mortgages these days. Now look at what you’re paying on your credit cards and other debts. You can actually power down your debt load faster by pulling together your credit cards, car loans or any other …

Save big by shopping at mortgage renewal

Save big by shopping at mortgage renewal While most Canadians spend a lot of time and expend a lot of effort in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Omitting proper consideration at the time of renewal costs Canadians thousands of extra dollars every year. It’s important to never …

Renovating Versus Upgrading to a New Home

Renovating Versus Upgrading to a New Home   Are you finding your current home too small or does your current home need a major facelift? Before you put your house on the selling block and head out shopping for a new home, consider whether it might be better to use a home equity loan to renovate your current home to …

RENOVATING MAY BE EASIER THAN YOU THINK – mortgage refinancing for renovation

RENOVATING MAY BE EASIER THAN YOU THINK – mortgage refinancing for renovation Since home refinancing has been limited to a maximum 80% of the value of your home, an increasing number of buyers are looking at Purchase Plus Improvements products to meet their home financing needs. This may be an option worth examining if you would like to buy a …

Remaining financially proactive

Remaining financially proactive Regardless of your current job security level and your overall financial wellness, taking a proactive approach to your finances by putting mortgage payments aside while you’re doing well can help set any homeowner’s mind at ease for the future. It’s a wise move to set money aside each pay period so you can accumulate six to 12 …

Refinancing to Take Advantage of Lower Rates

Refinancing to Take Advantage of Lower Rates With interest rates falling as of late, refinancing your existing mortgage and switching to a lower rate may save you a lot of money – possibly thousands of dollars per year. Imagine what you could do with the savings – anything from renovating or investing to going on a much-needed vacation or putting …

Quick tips for boosting credit

Quick tips for boosting credit Planning ahead to ensure your credit is healthy before applying for a mortgage can translate into a better mortgage rate and product – which can save you significant money throughout the term of your mortgage. Following are five steps you can use to help attain a speedy credit score boost: Pay down credit cards. The …

Property assessments as a measure of value

Property assessments as a measure of value When homeowners receive provincial Property Assessment notices, some will smile and have a bit more spring in their step, feeling the assessed value is accurate or perhaps even overly positive. Others will wilt and lament a modest gain or even a decrease in the assessed value over the previous year or period. Reactions …

Preparing for rising mortgage interest rates

Preparing for rising mortgage interest rates The interest rate party for borrowers is almost over. Following almost five years of historically low rates, we’ve started to see some upward movement in the cost of money. Most people watch the central banks for indications that rates are about to take off. But that’s not where the real action is for fixed-rate …

Pre-approvals, more important and less concrete than ever

Pre-approvals, more important and less concrete than ever Going through the pre-approval process is more important than ever to both you and your Realtor, but the actual term ‘pre-approval’ is potentially misleading. You may be pre-approved for a certain mortgage amount, however there are still a number of variables that can enter the picture once an offer is accepted. That’s …

Positive correlation between Homeownership & Financial Fitness

Positive correlation between Homeownership & Financial Fitness According to a recent survey sponsored by mortgage insurer Genworth Financial Canada, homeowners are in the best shape when it comes to financial fitness in Canada. Sixty-five percent of homeowners pay off their credit card balances each month (versus 48% of non-homeowners). Furthermore, a quarter of those homeowners with mortgages have managed to …

Porting your mortgage Moving House Means Moving Mortgage

Porting your mortgage Moving House Means Moving Mortgage Do you have a mortgage on your existing home and you’re thinking of moving? There are some things you first need to consider. The importance of accurate and detailed answers around questions of the portability of your existing mortgage is vital prior to taking the first step to listing your property in …

Owning a home during separation

Owning a home during separation We all know that marriage isn’t always forever. And when a separation occurs, a home is often involved. Since most couples have a joint mortgage – one where both names are on the mortgage and title of the home – when separation or divorce proceedings occur, many wonder what will happen with the home. When …

Open yourself to home ownership

Open yourself to home ownership Purchasing a home can be one of the biggest investments you make – both financially and emotionally. It’s also one of the most important decisions of your life. So before you make an offer, make sure you know what questions to ask – and how to get the answers you need. From choosing the right …

New to Canada resources

New to Canada resources If you’ve recently made Canada your home, you’re probably in the process of searching for a place of your own. Looking for a home can be a very exciting experience that can be both rewarding and challenging. To help new Canadians make informed housing-related decisions and find safe, affordable homes for their families, Canada Mortgage and …

More single ladies buying homes

More single ladies buying homes It’s becoming increasingly apparent that a greater number of women are now taking the reins when it comes to home purchases. There’s a growing trend among single women – and, more precisely, professional single women – who are becoming independent homeowners. While many of them may be putting off marriage, they’re not waiting around for …

Maximizing mortgage prepayments

Maximizing mortgage prepayments Canadians seeking a sure-fire investment return should look no further than their mortgage. Paying it down as quickly as you can will, in most cases, result in a stellar return on your investment. Prepayment options are worth exploring because paying down even a small amount of principal (the true cost of the mortgage loan minus the interest) …

Making Your Mortgage Work for You and The Tax Implications

Making Your Mortgage Work for You and The Tax Implications History has shown, time and time again, that the financial markets and value of the Canadian dollar change and move in a very cyclical pattern. At one point you have high inflation where your dollars don’t go too far and interest rates are high, and at another point you have …

Looking for a Mortgage? Understand Your Beacon Score First

Looking for a Mortgage? Understand Your Beacon Score First If you are in the market for a mortgage loan, you might have heard your mortgage broker refer to your Beacon Score and you may have wondered what they were talking about. If so, what they were referring to is your Equifax Beacon Score which is a number which tells lenders …

Looking beyond mortgage rates

Looking beyond mortgage rates It’s easy to get caught up in the idea that comparing mortgage rates will guarantee you get the best bang for your mortgage buck. While this may be true for particular situations, there are many scenarios where this strategy is not effective. Following are three reasons why it doesn’t always pay to make a decision based …

Know your options during separation

Know your options during separation Since most couples have a joint mortgage – one where both names are on the mortgage and title of the home – when separation or divorce proceedings get underway, many wonder what will happen with the home. When the marriage comes to an end, there are two obvious options concerning the home: 1) sell the …

It can pay to break your mortgage

It can pay to break your mortgage With mortgage rates still hovering near historic lows, chances are you’ve considered breaking your current mortgage and renewing now before rates rise any further. Perhaps you want to free up cash for such things as renovations, travel or putting towards your children’s education? Or maybe you want to pay down debt or pay …

Is Your Property Value Poised to Go Up?

Is Your Property Value Poised to Go Up? Property markets are not national – they are regional, local and can even vary widely from neighbourhood to neighbourhood in the same city. That being said, there will always be hot real estate markets. The following 12 questions will help you decide if your area and personal property values are poised to …

Is your mortgage portable?

Is your mortgage portable? Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, …

Is today the right time to buy a home or not?

Is today the right time to buy a home or not? This question arises on a near daily basis within our social circles… Answer: Today is the right day assuming one has found the specific property that works for them on all levels. If the conversation is about a property which one plans to own for at least the next …

Is refinancing right for you

Is refinancing right for you There are numerous reasons why homeowners choose to refinance their mortgages – everything from debt consolidation to freeing up money for their child’s education to using their home equity to buy another property. But the most popular reason for refinancing at this time of year is for holiday gift buying and entertainment. Planning ahead really …

Is portability important?

Is portability important? Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, the …

How much does rate matter?

How much does rate matter? Often times, borrowers are fixated on their mortgage rate because it’s the one aspect of their home financing they know to ask about. But, it’s important to look beyond mere rates into the bigger picture surrounding what’s significant when it comes to your specific mortgage needs. If we dollarize the difference between 2.99% and 3.04%, …

Investment Decisions 2016

Investment Decisions 2016 No doubt at this time of year many of us will be reviewing annual investment returns from savings, stocks, bonds, TFSAs, RRSPs, RESPs etc. Few of us, as part of this process, will sit down and calculate the actual rate of return on our investments in real estate. As we know, Canadian real estate has long been …

How important is rate

How important is rate Often times, borrowers are fixated on their mortgage rate because it’s the one aspect of their home financing they know to ask about. But, it’s important to look beyond mere rates into the bigger picture surrounding what’s significant when it comes to your specific mortgage needs. If we dollarize the difference between 2.99% and 3.04%, for …

Home renovation financing options

Home renovation financing options There are many different reasons to renovate a home: to save energy (and save on utility bills), to make room for a growing family, to improve safety or increase the resale value of your home, or simply to bring a fresh new look to your home. There are also a number of different ways to finance …

Have you ever considered a 50/50 mortgage?

Have you ever considered a 50/50 mortgage? Hybrid mortgages – also known as 50/50 mortgage products – include an equal mix of fixed-rate and variable-rate components within your single mortgage. This means you get the best of both worlds – the security of fixed repayments with the flexibility of a variable rate. Although there was a time in recent years …

Five Ways to Boost your Credit Score

Five Ways to Boost your Credit Score Leading up to the holidays is the perfect time to think about things like improving your credit score and consolidating debt. After all, the holidays are a joyous time that should not be overshadowed by financial woes. And even if your credit score is good, these tips may make it even better. After …

Examining the Canadian housing Economy

Examining the Canadian housing Economy Because the mainstream media can often mislead borrowers with its doom-and-gloom headlines regarding the Canadian housing and mortgage industries, as well as consumer debt, it’s important to get the facts straight from the mortgage brokering industry. The Canadian Association of Accredited Mortgage Professionals (CAAMP) released a new report in mid-February on employment impacts of housing …

Exploring no-frills mortgage products

Exploring no-frills mortgage products While No-Frills mortgage products typically offer a lower – or more discounted – interest rate when compared with many other available products, the lower rate is really their only perk. This type of product will only seem ideal for you if you have no plans to take advantage of benefits that will help you pay off …

Mortgage Down Payments, Optics, and US/CDN Interest Rates

Mortgage Down Payments, Optics, and US/CDN Interest Rates The federal government recently announced changes to minimum down payments on properties priced below one million dollars. Many headlines are oversimplifying and inaccurate. The change is not as simple, nor as painful, as a jump to 10% down on homes over 500K — this is not the correct math at all. It …

Canadian Financial Literacy

From Financial Consumer Agency It’s never too early to learn about finances. Look for teachable moments to start talking about money with your children Have you had the money talk with your partner? How safe are you with your data? Avoid falling victim to identity fraud Encourage lifelong learning about finances with your family. Start early and build basic money …

Don’t make these five Mistakes when getting a mortgage

Don’t make these five Mistakes when getting a mortgage Like many aspects of your life, obtaining financing on a new or existing home can be a lot less stressful and a whole lot more straight-forward if you’re prepared. But if you’re not prepared, there are many common mistakes you can make. Most of these mistakes are easily avoidable with some …

Don’t forget to shop around at renewal time

Don’t forget to shop around at renewal time Wile most Canadians spend a lot of time and expend a lot of effort in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Omitting proper consideration at the time of renewal costs Canadians thousands of extra dollars every year. It’s important to …

Does breaking your mortgage make sense?

Does breaking your mortgage make sense? With mortgage rates still hovering at historic lows, chances are you’ve considered breaking your current mortgage and renewing or refinancing now before rates begin to rise. Perhaps you want to free up cash for such things as renovations, travel or putting towards your children’s education? Or maybe you want to pay down debt or …

Do you know your credit score

Do you know your credit score Your credit score is a number that illustrates your financial health at a specific point in time. It’s also an indicator of how consistently you pay off your bills and debts. Your credit score is one of the factors lenders consider when qualifying you for a mortgage. A good credit score, for example, can …

Should Extra Cash Go To My RRSP Or To My Mortgage?

Should Extra Cash Go To My RRSP Or To My Mortgage? One of the biggest debates around the Canadian personal finance world is the battle between contributing to your RRSP or using the money to pay down your mortgage? The answer depends very much on the individual. Here are the options at hand: 1. Pay down your mortgage first and …

Collateral versus standard charge mortgages

Collateral versus standard charge mortgages With some lenders moving towards collateral charge mortgages, it’s important to understand the differences between a collateral and a standard charge mortgage. The primary difference is that a collateral charge mortgage registers the mortgage for more money than you require at closing. For instance, up to 125% of the value of the home at closing …

Clarifying mortgage penalties

Clarifying mortgage penalties The federal government published a Mortgage Prepayment Code to ensure borrowers are better informed by lenders (federally regulated institutions) when it comes to situations where mortgage prepayment penalties may be charged – namely, for the purpose of clarifying interest rate differential (IRD). This is a positive step, because IRD calculations and penalties have traditionally been very confusing …

Buying a foreclosure

Buying a foreclosure In Canada we have an extremely low foreclosure rate compared with other parts of the world. By most estimates we currently hover at around 0.30%. The US is closer to 1.2%, and Greece is hitting as high as 33%. Credit our tightly regulated lending environment for that rate not rising past 0.40%, even during the 2009 economic …

Building your home ownership budget

Building your home ownership budget Making the transition from renter to homeowner is likely one of the biggest decisions you’ll make throughout your lifetime. It can also be a stressful experience if you don’t plan ahead by building a budget and saving prior to embarking upon homeownership. Budgeting is a core ingredient that helps alleviate the stress associated with money …

Budgeting towards home ownership

Budgeting towards home ownership Transitioning from renter to homeowner is one of the biggest decisions you’ll make throughout your lifetime. It can also be a stressful experience if you don’t plan ahead by building a budget and saving prior to embarking upon homeownership. Budgeting is a core ingredient that helps alleviate the stress associated with money issues that can sometimes …

Beware of mortgage rate fixation

Beware of mortgage rate fixation There has been a lot of chatter surrounding ultra-low rates that were introduced by many banks early this year. But, it’s important to look beyond mere rates into the bigger picture surrounding what’s significant when it comes to your specific mortgage needs. While “no-frills” mortgage products typically offer a lower – or more discounted – …

Becoming mortgage free faster

Becoming mortgage free faster Regardless of how long you’ve had your mortgage or how large or small the current balance is, there are a variety of ways to make prepayments work for you to pay down your mortgage faster and, therefore, pay less interest throughout the life of your mortgage. After all, each extra payment amount will reduce your principal …

Appraisal versus home inspection

Appraisal versus home inspection Both an appraisal and a home inspection are important steps of the home-buying process, so it’s well worth your effort to distinguish the differences between them and how they can uncover detailed information about the home’s value and condition. Appraisal Essentially, home appraisal is a survey activity performed by a professional in order to develop an …

Accelerated bi-weekly payments

Accelerated bi-weekly payments Over the past number of years banks have come up with a rather confusing set of payment frequency options that have left some mortgage clients a bit disappointed 5 years down the road. Rather than the Amortization crushing ‘Accelerated bi-weekly’ plan which a quality Mortgage Broker will discuss with you, clients left to their own devices run …

16 ways to landscape cost effectively

16 ways to landscape cost effectively It’s easy to spend thousands cultivating an idyllic lawn and garden. But a little ingenuity and patience will go a long way in keeping some green in your wallet. Traditional thinking says you should expect to pay anywhere from 5% to 10% of your home’s value on landscaping. Even at the low end of …

10 Tips and Tricks for Profitable Home Remodeling and Flipping

10 Tips and Tricks for Profitable Home Remodeling and Flipping Did you purchase your home with the idea that you would make some improvements to it and then later sell it for profit? Most people whether they purchase and intend to immediately fix-up and sell, called house flipping, or intend to live in a home for a long time and …

10 secrets of sophisticated real estate investors

10 secrets of sophisticated real estate investors There are many things that can affect the market value of a property, ranging from interest rates to home improvements to the mood of the seller. Below are some of the key dynamics that tend to have the largest influence on home values that every homeowner or aspiring homeowner should be aware of. …

8 Ways To Boost Your Home’s Resale Value

8 Ways To Boost Your Home’s Resale Value The actual cost and payback for each project can vary, depending on both your home’s condition and overall real estate market values in your region of the country. 1. Make your kitchen really cook. The kitchen is still considered the heart of the home. Potential homebuyers make a beeline for this room …

6 ways to flip a property

6 ways to flip a property “Flipping” has been a popular buzzword used by real estate investors for the past few decades. This information specifically address seven strategies that sophisticated Real Estate Investors use. Flipping Real Estate simply means buying a property and reselling it quickly, as opposed to holding on to a property long term as a rental. Flip …

5 questions every mortgage borrower should ask

5 questions every mortgage borrower should ask As a mortgage borrower, particularly if this is your first time embarking upon homeownership, there’s no doubt you have a load of questions related to the mortgage process. Aside from the most common questions, such as those relating to mortgage rate, the maximum mortgage amount you’ll be able to receive, as well as …

5 mortgage mistakes to avoid

5 mortgage mistakes to avoid Obtaining financing on a new or existing home can be a stress-free, straight-forward process if you’re prepared. But if you’re not prepared, there are many common mistakes you can make. Most of these mistakes are easily avoidable with some preparation and informed advice – feel free to call or email with any questions/concerns! Below are …

5 Essentials of Healthy Housing

5 Essentials of Healthy Housing Healthy Housing is a Canada Mortgage and Housing Corporation (CMHC) vision of housing that promotes the health of its occupants while considering the environment and preserving our natural resources. Healthy Housing is based on over a decade of research by CMHC and others. Healthy Housing is not about building new high-tech houses but, rather, it’s …

4 tips for choosing the right real estate agent

4 tips for choosing the right real estate agent The number one mistake people often make when choosing a real estate agent when selling your home is selecting someone based solely on the fact that they’re a friend or family member who is also a real estate agent. It’s important to let your friend or family member know that you …

What’s the trick to a better mortgage rate?

Have you ever wondered why banks have “posted” mortgage rates, yet they’re willing to offer mortgages below these interest rates to some borrowers in Brampton? The Bank of Canada (BoC) wanted to find out how consumers can get the very best mortgage rate, which led to the undertaking of an extensive study on mortgage discounting. According to their research, Canadians …

3 reasons to consider a 10 year mortgage term

3 reasons to consider a 10 year mortgage term The 10-year fixed-rate mortgage has generated renewed interest lately as borrowers look to lock in for the long term and enjoy the security and peace of mind this brings. With mortgage rates at all-time lows, it turns out that fashion isn’t the only thing that comes back into style! In fact, …

Who is a Mortgage Broker or Mortgage Agent?

A Mortgage Broker or Mortgage Agent is an independent real estate professional who specializes in negotiating residential and commercial mortgages on your behalf. Mortgage Brokers or Mortgage Agents don’t work for the bank, they work for you. This way, they can offer objective financial advice and find solutions that are right for you. Best of all, you get professional representation …

Mortgages From Major Banks

Mortgages From Major Banks Most mortgage brokers and mortgage agents offer mortgages from the major banks. In some cases, the major bank may own a separate brand (under a different name) when dealing with mortgages. Canada has five major banks which are commonly referred to as the Big Five. These are the largest banks that dominate the banking industry. All …

4 tips for choosing the right real estate agent in Toronto

4 tips for choosing the right real estate agent in Toronto The number one mistake people often make when choosing a real estate agent in Toronto when selling your home is selecting someone based solely on the fact that they’re a friend or family member who is also a real estate agent. It’s important to let your friend or family …

What’s the trick to a better mortgage rate in Toronto?

Have you ever wondered why banks have “posted” mortgage rates, yet they’re willing to offer mortgages below these interest rates to some borrowers in Toronto? The Bank of Canada (BoC) wanted to find out how consumers can get the very best mortgage rate, which led to the undertaking of an extensive study on mortgage discounting. According to their research, Canadians …

3 reasons to consider a 10 year mortgage term in toronto

The 10-year fixed-rate mortgage in toronto has generated renewed interest lately as borrowers look to lock in for the long term and enjoy the security and peace of mind this brings. With mortgage rates in toronto at all-time lows, it turns out that fashion isn’t the only thing that comes back into style! In fact, 10-year fixed mortgage rates in …

Why Use a Mortgage broker or Mortgage Agent?

Using a mortgage broker or mortgage agent will save you time and money as your bank may not have the best products or rates available in the market. A mortgage broker or mortgage agent works for you, not the lender.The services of a mortgage broker or mortgage agent are at no cost to you as they are paid directly by …

Who is a Mortgage Broker or Mortgage Agent?

A Mortgage Broker or Mortgage Agent is an independent real estate professional who specializes in negotiating residential and commercial mortgages on your behalf. Mortgage Brokers or Mortgage Agents don’t work for the bank, they work for you. This way, they can offer objective financial advice and find solutions that are right for you. Best of all, you get professional representation …

Mortgages From Major Banks

Most mortgage brokers and mortgage agents offer mortgages from the major banks. In some cases, the major bank may own a separate brand (under a different name) when dealing with mortgages. Canada has five major banks which are commonly referred to as the Big Five. These are the largest banks that dominate the banking industry. All of the five major …

Mortgage Minute – 2015 – Power of Sale and Investment Properties

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Now is the time to take advantage of an early mortgage renewal

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