1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to. Try not to. If your payment is $2,000 a month, four years of no payments is $96,000!! 2. Increase […]
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Unique Details on Properties Which Will Make Your Pre-Approval Void
Shopping for a new home can be fun and exciting, but there are many details that contribute to a property’s marketability. Mortgages that have the lowest total cost are reserved for the most marketable properties that are in prime locations as per the lender’s criteria. Please remember that a mortgage professional can never advise a […]
Property Tax Time 2016
We’ve come to the least favourite time of year as a home owner….property tax time! I generally get a lot of questions on what to do and how to do it. Below is an example of a tax notice just received. You will notice there are three columns; A, B and C. Column A is […]
Appraisals – Who Do They Belong To?
A mortgage broker’s job comes with its share of uncomfortable moments. Telling a client that you can’t provide them with the appraisal they just paid for is one of them. It’s an issue that comes up time and again, but one that’s frequently misunderstood. Appraisers and brokers cannot simply hand over appraisals to clients, despite the client being […]
Three Big Mortgage Complaints
I read this article and it’s bang on with a few main concerns I’ve noticed and seen in my lengthy career as an independent mortgage broker. I’ll touch on two up front.Penalties: The banks have penalties anywhere from 3-5 times higher than the non banks we use. Here’s the best illustration. Pre-approvals: Since pre-approvals are […]