Is It Worth Refinancing My Mortgage?

familylendingMortgage Talk Canada

Should you refinance early in order to benefit from low rates? Are you considering refinancing your mortgage? Early refinancing has become a bit of a trend; not surprisingly though, everybody is aiming to save money where they can. Securing a new loan with far better interest rates for your home might mean saving money on monthly low mortgage rate payments, … Read More

Open or Closed Mortgage?

familylendingMortgage Talk Canada

Open or Closed? Do you know which option is right for you? Closed mortgages provide lower interest rates than open mortgages. Nonetheless, open mortgages include a smaller amount of fees. What is a Closed Mortgage? Closed mortgages cannot be prepaid, renegotiated or refinanced prior to maturation without paying a penalty. The majority of closed mortgages do provide a little flexibility … Read More

Mortgage Penalties: Just How Much Will it Cost to Break my Mortgage?

familylendingMortgage Talk Canada

Would now a good time to break your mortgage and refinance? This is a really common concern– when should I break my existing mortgage and refinance for a current best mortgage rate? It’s best to initially weigh out the costs. Breaking your Mortgage A Canadian mortgage rate agreement is a fully committed contract. There is an out clause, however it … Read More

Why a Bank Mortgage Might Not Make Cents

EditorAbout Mortgage Brokers,, First Time Home Owner, General Interest, Mortgage Term, Mortgage Types, Refinancing my Property, Residential Mortgages

It’s no secret that the banking industry operates in a regulatory environment. Bankers and advisors are required to adhere to strict rules and restrictions… except when it comes to mortgages. According to Samantha Gale, a former mortgage regulator with B.C.’s Financial Institutions Commission and chief executive officier of the Mortgage Brokers Association of British Columbia, individual bank mortgage reps, unlike … Read More