A Few Things to Ask Your Mortgage Broker

familylendingMortgage News, Mortgage Talk Canada

There are no silly questions. Listed below are a variety of questions to think about when speaking to your mortgage broker: How long have you been working in the mortgage industry? Years of experience is essential when it pertains to taking care of challenging mortgages. What type of education or licensing do you have? You need to confirm that your … Read More

Additional Costs of Buying a Home

familylendingMortgage News, Mortgage Talk Canada

Plan for these unanticipated costs when creating your budget. A number of first time homebuyers are often shocked when they see the total cost of their home purchase, including the additional expenses, on closing day. Here’s a list of a few of the “hidden” expenditures you should expect to pay. Land Survey Despite the fact that most lenders may agree … Read More

Bank Or Broker?

familylendingMortgage News, Mortgage Talk Canada

Who should you consult for your mortgage pre-approval? Handle your mortgage like every other major purchase– that is, be sure you make the effort to compare rates and shop around. Not every Canadian mortgage rate is the same. Bank Rates When you visit a bank, it’s worth bearing in mind that their loan officers are paid to sell you their … Read More

How to Calculate How Much You Can Afford

familylendingMortgage News, Mortgage Talk Canada

Know what you can afford – get a mortgage pre-approval. When it pertains to securing a mortgage, people would like to be aware of the amount of money they are able to borrow. The following are a few quick formulas to assist you to determine exactly what you are able to afford. Loan to Value (LTV) Lenders will only allow … Read More

How to Know When You’re Ready to Purchase a Home

familylendingMortgage News, Mortgage Talk Canada

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