I’m seeing some challenges lately in the residential mortgage market. Buying a rental and putting a mortgage on it can be very difficult in today’s market, especially with the main stream mono line lenders and banks. I’ve recently had a client with 40% down needing a mortgage on a rental property. I never knew it […]
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Importance of portability
Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better […]
Newspaper article that’s not so true
I was reading the 24hrs news paper today and came across this article in terms of what a variable mortgage product is. Where it’s some what true it doesn’t sit well with me as they are telling the public that this is the only option. Well it is the only option, with this one bank […]
Self Employed? Prepare for a long conversation!
This is a good article that should be shared Courtesy of the Financial Post: If you’re self-employed and about to apply for a mortgage, be prepared for some serious form-filling. Getting financing isn’t as easy as it used to be, say mortgage brokers — and for the 15% of Canadians who earn money for themselves […]
Why your mortgage term matters
Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best […]