Switching From Variable To A Fixed Mortgage
Be aware that you can find a variable rate mortgage at least a quarter to a point lower than any fixed rate mortgage however tread carefully when making your decision. When choosing a variable rate mortgage it makes you subject to unexpected rate hikes and many people...
How To Put Equity To Work For Your Second Mortgage
Depending in which part of the country you live in you may find yourself with quite a bit of equity built up in your home. If you reside in the Toronto, Ontario area where values have risen substantially and the equity is sitting there, you may want to consider taking...
How To Get Out Of A Mortgage
Situated on the northwest shores of Lake Ontario, Toronto Ontario is the most populous city in Canada and a prominent center for music, theaters museums and many festivals. Residents from the suburban community of Brampton, Ontario are able to enjoy all the culture...
What is an Assumable Mortgage?
Whether you are selling your home or looking to purchase, an assumable mortgage may benefit you. The basic premise behind an assumable mortgage is that the buyer of a home is able to take over the mortgage that the seller currently possesses. It may be possible for...
Mortgages for Investment Properties
An investment property can be a great way to make some extra income, and securing a mortgage for one does not have to be a challenge if you have the right information ahead of time. What exactly is an investment property? It is a property that you will rent out at...
What are Construction Mortgages?
If you dream of building your own home or purchasing a house that needs some work completed on it, it’s a good idea to learn now about construction mortgages. There are different processes involved with securing this type of custom loan, which we will get into here....
Mortgages for a Second Home
There are many reasons to purchase a second home in Canada. You may want to provide your child who is going away for college or university with a place to live, or you would like a vacation home, a home for an elderly relative, or a house you can stay at while away on...
Choosing the Right Mortgage
Choosing the right mortgage to meet your needs is a process best handled with the support of a mortgage professional. Just as there are many homes to choose from, there are many types of mortgage financing options. Choosing the right mortgage can save you thousands of...
Applying for a Mortgage on Maternity Leave
When your family is growing, the idea of moving into a bigger house may be at the forefront of your mind. But if you are on maternity leave, your ability to get approved for a mortgage may be hindered due to your smaller household income. Here are a few questions to...
Now Is The Time To Get Aggressive
The great majority of us are in mortgage contracts that contain a prepayment privilege of some sort. “Privilege” being the key word here. Not all mortgage contracts contain such privileges, but that’s a story for another day. The mortgages that do allow prepayment...