Mortgages are complicated—we get it! But there are steps that you as a homebuyer can take to make the process a much smoother one (plus let you walk away with the sharpest rate!) 1. Use a Broker This should be the first step you take when getting a mortgage! Enlisting a trusted broker to work […]
Why It's Important to Talk to A Mortgage Broker
Bona-Fide Sales Only Clauses
Imagine spending hours of your life to: I’ve seen this happen on more than one occasion and it’s not pretty. His lawyer found out he had a “bona-fide sale” clause in his mortgage contract. A bona-fide sale clause is a fancy way of saying that you can’t leave your lender until the term is up, […]
Tax Surprises When Buying or Selling a Vacation Property
Buying a second home is a major undertaking and it is important to consider all of the tax implications when entering into such a significant transaction. What will you do with the property? Will it be exclusively for your family’s use or do you want to rent it out when you are not using it? […]
9 Reasons Why People Break Their Mortgages
Did you know that 60 per cent of people break their mortgage before their mortgage term matures? Most homeowners are blissfully unaware that when you break your mortgage with your lender, you will incur penalties and those penalties can be painfully expensive. Many homeowners are so focused on the rate that they are ignorant about […]
What is a cash back mortgage?
Every once in a while, a bank will advertise a cash back mortgage. It sounds great but there are a few things to consider.When you purchase a home, you may find that you need some extra cash. You may want to renovate, purchase some furniture, or start on building a fence or landscaping.. Fortunately, some […]