If you’re interested in buying a home, you may need a mortgage, and the interest rate is something you need to consider in advance. Every potential homeowner wants the lowest rate possible, and the following tips will help you get the best rate on your mortgage: Work on your credit score It is a must […]
When applying for a mortgage, two options that are available to you are adjustable-rate and variable rate. This blog post will give insight into each option to help you make an educated decision about which is better suited for you. Variable-rate and adjustable-rate mortgages are attached to the prime rate, however, only adjustable-rate mortgage payments
Adjustable Rate vs. Variable Rate Mortgages: What Are They, and Should You Get One? Read More »
Buying a property is exciting but can also be overwhelming if you are unprepared. Understanding your mortgage is a must so that you don’t get confused with complicated paperwork and make the wrong choices. For most people, a mortgage is the most significant debt they will carry, so you need to be well informed and
Common Mistakes People Make When Getting a Mortgage Read More »
In order to buy a home, you may need a mortgage, and the process of obtaining one can sometimes feel overwhelming. Working with a reputable broker is a must as this will ensure you are well informed and make the right decisions. Before settling on a mortgage broker, you need to ask them some fundamental
Top 10 Questions to Ask Your Mortgage Broker in Oakville Read More »
Being early is a must when renewing your mortgage as this will get you the best renewal option, and you will be able to take advantage of the alternatives. Being well informed will also help in this situation, and the following mortgage renewal tips will allow you to get the best rate: Renegotiate Your conditions
A reverse mortgage would allow older homeowners to leverage the equity in their homes. If you own your home outright or have considerable equity to draw from, you would be able to withdraw a portion of your equity without having to repay it until you leave your home. You have to be of a certain
If you are looking to invest in your first property, you should know that getting a mortgage from the right place is a crucial step. There are two primary sources for acquiring funding: private lenders and traditional bank loans. Both methods work well for providing a loan, but certain key differences are worth considering. Although
Working with a mortgage broker is a great idea if you need to take out a loan, and there are a number of advantages you will experience if you choose to pursue this option. They will act as your agent to find you the best lender along with the best rate and conditions that are
5 Things to Consider When Choosing a Mortgage Broker Read More »
On July 1, 2020, Canada Mortgage Housing Corporation (CMHC) increased it’s minimum required beacon scores for applicants from six hundred to six hundred and eighty. However, co-applicants now have no minimum beacon score. Moreover, the corporation has decreased its maximum GDS/TDS ratios to 35/42, respectively. CMHC made this change to prevent a housing bubble as
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