Increasing interest rates are pushing most borrowers closer to their trigger rate – a level at which their regular monthly payments will not be sufficient to cover the interest.
Refinance and Use the Equity in your Home to Consolidate your Debt.
In this current inflationary market, rising costs of living can make it difficult to manage your finances. Debt consolidation can help if you have an existing mortgage, high-interest credit card balances and personal loans. However, if you have equity in your home, you can utilize it to your benefit. Equity … Read More
Thinking About Locking Into a Fixed Rate Mortgage?
To Lock in or Not to Lock in? That is the Question. Locking into a fixed-rate mortgage has been a hot topic. It’s without a doubt that since the beginning of 2022 the mortgage world has fluctuated and caused quite a stir amongst Banks, Private Lenders, Mortgage Brokers, and Mortgage … Read More
Mortgage Insurance for New To Canada Homebuyers
Whether you’re new to Canada, a permanent resident or a foreign investor, you’ve probably heard of mortgage insurance. The biggest misconception about mortgage insurance is that it benefits the borrower. When in reality, it is used to protect the lender against the risk of the borrower defaulting on their mortgage. … Read More
New to Canada Mortgages
Whether you’re a permanent resident or newly arrived in Canada, finding and financing your future home is one of the most important decisions you can make for yourself and your family.
Don’t Do This When Seeking a Mortgage!
In today’s reality of tougher mortgage qualification rules, it’s even more important to pay attention to the little things that can make or break your chances of qualifying for a mortgage – or hanging on to your approval all the way through to closing. Did you know that it’s getting … Read More
Why Do I Need an Appraisal?
Mortgage lenders request an appraisal for several reasons, but the main two are: 1) When you’re buying a new home; and 2) If you’re dipping into your home equity through a refinance on your existing mortgage. An appraisal is an unbiased expert opinion on the value of your home carried … Read More
How Do GDS & TDS Affect Mortgage Qualification?
You’ve likely only come across ‘GDS and TDS ratios’ if you’ve previously applied for a mortgage. These calculations are used to determine what you can afford to pay towards homeownership costs based on your current income and debt levels. GDS – gross debt service – is the percentage of a … Read More
What Does a Monoline Lender Have to Offer?
You’ve likely only heard the term ‘monoline’ lender if you’ve had a mortgage with one and/or you’ve used a mortgage broker to negotiate home financing on your behalf. Although not as well known as banks and credit unions, monolines provide excellent mortgage solutions to meet the needs of a variety … Read More
Looking for Ways to Pay Your Mortgage Off Quicker?
Everyone dreams about their ‘mortgage burning’ date the day they become a homeowner. While mortgage debt will cost you the lowest interest rate among all debts, there’s a sense of freedom in being able to chip away at that principal balance and shorten the time in which it will take … Read More
- Page 1 of 2
- 1
- 2