Own your own business? Learn how you can own a home too! Statistics show that nearly 20% of all income earners in Canada are now self-employed. Today, lenders want proof of a stable income. Here are a few ways to ease the process and increase your chances of qualifying for a low mortgage rate. Document Every…
Know what you can afford – get a mortgage pre-approval. When it comes to securing a mortgage, people want to understand how much they can borrow. Here are a few quick formulas to help you figure out exactly what you can afford. Loan to Value (LTV) A lender will only let you borrow a certain…
Fast track your mortgage with these easy tips. There are options available to help you enjoy a mortgage-free lifestyle sooner rather than later. The Different Types of Mortgage Repayment Options Monthly Mortgage PaymentsTraditional mortgage payment type paid monthly on the same day each month. Bi-Weekly Mortgage PaymentsYou make payments every second week on the same…
Don’t get burned by a hot market. Know Your Budget It’s a risk for any buyer to get in over their head with too high of a best mortgage rate investment. Remember to factor in all costs associated with buying a home and owning a home. You’ll need to make the mortgage payments, pay the utilities, do…
Thinking about building? Here’s what you need to know. Building a home is complicated; your low mortgage rate shouldn’t be. Here’s a simplified look at the three different types of new construction financing available in Canada: 1) Builder/Contractor built home with your money: Customer has entered into an agreement with a registered builder to build their home….