Do I really need mortgage insurance? A down payment serve 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 more easily managed, and you’ll be less likely to default on your mortgage. Lenders commonly group low mortgage rate shoppers … Read More
Using a Home Equity Loan for Debt Consolidation
Have you considered this popular alternative? The biggest debt you are going to deal with as a property owner is your mortgage. With the right approvals, you are able to borrow against the equity of your house with a home equity loan. What is a Home Equity Loan? This style of loan is somewhat different to a home equity line … Read More
Ways to Obtain a Mortgage When You’re Self-Employed
Own your own company? Find out how you could have a house too! Data shows that almost 20% of all income earners in Canada are now self-employed. Today, lenders desire evidence of a steady income. Here are a couple of ways to ease the process and raise your possibilities of obtaining a low mortgage rate. Document Every Penny You’ll be … 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
Bridge Financing
Bridge the gap between one mortgage and the next. What happens if you find your perfect home the day after you put your current home on the market? Like many people, you probably get excited. Don’t worry! There is an answer– bridge financing. What is Bridge Financing? Bridge financing is short term financing that’s based on the equity you have … Read More