Land Transfer Tax

familylendingMortgage Talk Canada

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

familylendingMortgage Talk Canada

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

Making an Offer

familylendingMortgage Talk Canada

Improve the chances of having your offer accepted. When you and your real estate agent locate what you think is the perfect home and Canadian mortgage rate, there’s no time to waste – it’s time to make an offer to purchase! The Deposit When you put an offer in to purchase a house, you are also expected to provide a … Read More

Mortgage Fundamentals: Pre-Approved Vs. Pre-Qualified

familylendingMortgage Talk Canada

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

Mortgage Life Insurance

familylendingMortgage Talk Canada

Is this coverage right for you? Another thing to take into consideration during your low mortgage rate shopping process is Mortgage Life Insurance, which is different than Mortgage Default Insurance. What is Mortgage Insurance? Mortgage Insurance is also referred to as mortgage life insurance and creditor insurance. In Canada, banks use post-claims underwriting for Mortgage Insurance. They only confirm that … Read More