Are you in the market for a mortgage renewal this year? Then pull up your socks, grab a mortgage calculator, and get ready to start saving some serious cash! If you’re one of the many Canadians who settled for a fixed-rate five-year mortgage back in 2007, chances are you’ve been kicking yourself ever since. At the time, locking in a … Read More
Low Mortgage Rates = False Sense of Security?
Historically low interest rates are making it easier for Canadians to enter the real estate market. Why continue to rent when a mortgage payment could be less than your current monthly lease? If you’re considering the here and now, buying makes perfect sense. With the help of a seasoned mortgage broker, you can easily secure a best rate mortgage that’s … Read More
Changes Coming for Mortgage Penalties
One of the easiest ways to ensure you’re getting the best mortgage rate around is to renegotiate your financing terms when interest rates are low. Which is great… except for one small problem: penalties. Banks are notorious for slapping borrowers with hefty penalties, especially those who are looking to wiggle their way out of a long-term fixed rate deal. It … Read More
Getting to Know Your Debt-to-Income Ratio
Do you know your debt-to-income ratio? If you’re like most Canadians, the answer is no. Unfortunately, failure to fully understand this important element of your financial portfolio could cause you grief when it comes time to secure a mortgage pre-approval. Luckily, calculating your debt-to-income ratio is easy – all you need is a good financial calculator and a few necessary … Read More
The Advantages of Searching for a Mortgage Online
Locating the best and most cost-effective mortgage has always been a cumbersome activity. Investigating interest rates, evaluating mortgage loans, as well as reviewing sources can take a substantial amount of time, effort, and expertise. Thankfully, on-line mortgage brokers, like FamilyLending.ca, are making it their mission to relieve these stresses and make mortgage browsing faster and easier. Locating the best mortgage … Read More
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