The DIY guide for selling and buying a for sale by owner property When it comes to selling your home, a growing number of people are opting for the do it yourself approach. The private sale of homes is becoming relatively common thanks to advances in Internet technology and an increase in For Sale By Owner (FSBO) companies. If you … Read More
Understanding Mortgage Insurance and CMHC
Do I really need mortgage insurance? A down payment serves as a form of security– so the larger your down payment, the better. If you have a greater amount of equity built up in your home, unforeseen circumstances may be managed easier, and you’ll be less likely to default on your mortgage. Lenders commonly group low mortgage rate shoppers that … Read More
Why do Mortgage Rates Change?
Understand why rates change and how you can adapt to increases. There are many factors that influence the health of the economy: unemployment, inflation, consumer confidence, and the housing market are just a few. Let’s take a look at the ways these factors are able to impact your mortgage rate. Factors Affecting: Fixed Mortgage Rates A fixed best mortgage rate … Read More
What are Blended Mortgages?
Blend your mortgage to improve your rate. Quite a few people are wondering how to lower their current mortgage costs. Generally, the mortgage penalties you incur to break your mortgage are set up as the greater of three months interest or the value of your Interest Rate Differential. If you’re going to break your mortgage, try and do it when … Read More
Typical Lending Criteria For The Self-Employed
Two things to keep in mind Most self-employed persons have a more difficult time getting pre-approved for a mortgage. The ideal image of a borrower by most lenders is one who has a stable job and thus a consistent stream of income as part of a regular pay cheque. Self-employed individuals rarely have this luxury. If you would like to … Read More