It’s time to start bargaining! It goes without saying that you would like to secure the lowest possible mortgage rate. With that being said, negotiating your best mortgage rate will entail some homework. This way, you’ll be able to work out a fair request. Here are a few tips on how to negotiate the best Canadian mortgage rate. 1. Be … Read More
How to Prepare For Mortgage Rate Increases
Can your budget handle a rate increase? There is a bunch of talk about Canadian mortgage rate increases. The single biggest investment most Canadians make is their home; this represents almost 40 % of the average family’s total assets. The big problem at the moment is that many Canadians are living in homes they won’t be able to afford once … Read More
Open or Closed Mortgage?
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?
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
8 Things to Be Aware of When Buying a Second Home
You can afford a second home, let us show you how! Now that low interest Canadian mortgage rates are readily available, it seems like the perfect time to invest in a second home. Here’s what you should know before purchasing a second property. Things to Learn Before Buying a Second Home 1) Do your research. You will need to resist … Read More