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
Land Transfer Tax
How much is the land transfer tax in your province? Each province has a land transfer tax, with the exception of Alberta and Saskatchewan. Ontario, British Columbia, Prince Edward Island and the city of Toronto offer land transfer tax rebates for first-time homebuyers. Considering purchasing some property? Be sure to review land transfer taxes when completing your budget and considering … Read More
Making a Budget
Make a budget and find out the best ways to manage your mortgage money better We recently took a look at the expenses beyond securing a low mortgage rate, the purchase price that you should anticipate to pay, and the expenses related to moving in. Now it is time to have a look at your ongoing month-to-month expenses, ways to … Read More
Mortgage Fundamentals: Pre-Approved Vs. Pre-Qualified
What’s the difference? There are several stages of the Canadian mortgage rate approval procedure when you apply for a mortgage. It is essential to understand what they are and what they really mean. What is Pre-Qualification? This is the initial step of the low mortgage rate approval process wherein your mortgage broker takes a look at your overall earnings and … Read More