by Rakhi Madan | Jul 29, 2016 | First Time Home Buyer, Purchases, Refinance, Renewal, Tips |
The golden rule of mortgages is this, the longer you take to pay it off, the more money you give the bank. So your goal should be to pay your mortgage off as fast as comfortably possible. Listed here are payment options for your mortgage. Knowing these options before...
by Rakhi Madan | Jul 22, 2016 | Tips |
In Canada loan interest on your mortgage is compounded semi-annually unlike the United States where calculation is done monthly. The method used for loans in Canada gives borrowers a slightly lower monthly payment given the same principal, term and nominal interest...
by Rakhi Madan | Jul 15, 2016 | First Time Home Buyer, Purchases, Refinance |
The two ways to register a mortgage in Canada on title are a Standard Charge or Collateral Charge and it is important for borrower to know the difference. A Standard Charge was used by all lenders until about 6 years ago and being informed of the differences in the...
by Rakhi Madan | Jul 8, 2016 | First Time Home Buyer, Purchases |
A question I often get asked as a mortgage broker in Toronto and Brampton is “What is mortgage default insurance?” Before I give the answer, let me first explain the two types of mortgages. There are two types of mortgages and the amount of money you are able to put...
by Rakhi Madan | Jul 1, 2016 | Renewal |
What happens when your mortgage matures? It’s good to know exactly what you need to think about as time goes on. So here are ten things you need to consider before your mortgage matures. 1) Have you explored all your options? Once you receive your mortgage renewal...
