Make a budget and find out the best ways to manage your mortgage money better We recently took a look at the expenses beyond securing a low mortgage rate, the purchase price that you should anticipate to pay, and the expenses related to moving in. Now it is time to have a look at your ongoing month-to-month expenses, ways to … Read More
How to Prepare For Mortgage Rate Increases
Can your budget handle a rate increase? There is a bunch of talk about Canadian mortgage rate increases. The single biggest investment most Canadians make is their home; this represents almost 40% of the average family’s total assets. The big problem at the moment is that many Canadians are living in homes they won’t be able to afford once interest … Read More
How to Negotiate Your Mortgage Rate
It’s time to start bargaining! It goes without saying that you would like to secure the lowest possible mortgage rate. With that being said, negotiating your best mortgage rate will entail some homework. This way, you’ll be able to work out a fair request. Here are a few tips on how to negotiate the best Canadian mortgage rate. 1. Be … Read More
How to Know When You’re Ready to Purchase a Home
Think you are ready to be a homeowner? Here’s exactly how you can tell! 1) You have a budget Factor in homeowner’s insurance coverage, property tax, fees, upkeep costs, and the best available home mortgage rate. 2) You have a sizeable down payment. Generally, you’ll need a down payment worth 20 % of the house price. 3) You have a … Read More
Ways to Obtain a Mortgage When You’re Self-Employed
Own your own company? Find out how you could have a house too! Data shows that almost 20% of all income earners in Canada are now self-employed. Today, lenders desire evidence of a steady income. Here are a couple of ways to ease the process and raise your possibilities of obtaining a low mortgage rate. Document Every Penny You’ll be … Read More