CMHC Backing Fewer Loans: A Look at the Repercussions

EditorAgricultural Mortgages, Commercial Mortgages, Mortgage Down Payment, Mortgage Insurance, Mortgage News, Residential Mortgages

Last week, The National Post reported on the Canadian Mortgage and Housing Corporation (CMHC) and their growing insurance load coverage. According to the story, the CMHC is edging closer to a $600-billion government-imposed limit on mortgage default insurance, backing nearly $541-billion in mortgages. If the demand grows for mortgage default insurance, the CMHC will need to request a limit extension … Read More

How to Get a Mortgage When You’re Self-Employed

EditorAgricultural Mortgages, Commercial Mortgages, Credit Rating,, Financial Tips, First Time Home Owner, General Interest, Mortgage Down Payment, Mortgage News, Mortgage Types, Real Estate Advice, Residential Mortgages

More and more Canadians are leaving the head office for a home office, quitting corporate jobs in order to start their own companies. In fact, statistics show that nearly 20% of all income earners in Canada are now self-employed. Which is fantastic… until you need to apply for an affordable mortgage rate. Securing a mortgage when you own your own … Read More

CAAMP Releases Highlights From Fall 2011 Consumer and Industry Surveys

EditorAbout Mortgage Brokers, Agricultural Mortgages, Commercial Mortgages, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Investment Property, Mortgage Down Payment, Mortgage Insurance, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Refinancing my Property, Residential Mortgages

The focus of these surveys was to gather Canadians’ opinions of the mortgage industry. The report includes specific questions on experiences with their mortgage professional as well as information and feedback from industry members. The survey results were presented by Maritz Research at Mortgage Forum 2011 in Toronto. Click here to review the entire report.

Should You Use Your RRSP To Buy Your First Home?, Financial Tips, First Time Home Owner, Mortgage Down Payment, Residential Mortgages

Purchasing your first home can be tough, especially when it comes to scrounging up a sizable down payment. In Canada, you must be able to cough up a 20% down payment in order to avoid purchasing costly mortgage insurance. If you’re struggling to find enough cash to meet this requirement, don’t throw in the towel quite yet. Under the Home … Read More