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 Your Down Payment Matters
Is it actually that big of a deal? All lenders assume that you will put some money down on your home purchase. The minimum down payment in Canada is 5 % of the purchase price. The amount of insurance expenses charged is relative to your best mortgage rate and your down payment amount. So keep in mind, the more cash … 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
A Few Things to Ask Your Mortgage Broker
There are no silly questions. Listed below are a variety of questions to think about when speaking to your mortgage broker: How long have you been working in the mortgage industry? Years of experience is essential when it pertains to taking care of challenging mortgages. What type of education or licensing do you have? You need to confirm that your … Read More