Blend your mortgage to improve your rate. Many people are inquiring about how to lower their current mortgage costs. Typically, 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…
Have you considered this popular option? The largest debt you will face as a homeowner is your mortgage. With the right approvals, you can borrow against the equity of your home with a home equity loan. What is a Home Equity Loan? This type of loan is slightly different to a home equity line of…
Two things to keep in mind. Most self-employed persons have a more difficult time getting pre-approved for a mortgage. The ideal image of a borrower by most lenders is one who has a stable job and thus a consistent stream of income as part of a regular pay cheque. Self-employed individuals rarely have this luxury….
Are you ready to take the leap into homeownership? Weighing out the pros, cons, costs, and considerations is the best way to help you determine if you’re ready for home ownership. Renting Pros Renting is a great first step to living on your own. Since it lacks long term commitment (most rental agreements are one…
What’s the diff? There are different stages of the Canadian mortgage rate approval process when you apply for a mortgage and it’s important to know what they are and what they really mean. What is Pre-Qualification? This is the first step of the low mortgage rate approval process where your mortgage broker looks at your total income and debt. …