Mortgage are financial loans that offer a real estate as a collateral, mortgage agents offer best deals
Buying a home with challenging credit, may lead to stress, then stress may lead to uncertainty which may lead to fear. A person or couple buying a home with challenging credit should not have to face uncertainty nor fear, however, this may be a traditional mistake and very understandable by those living in the situation…
Your credit Your credit is a factor with a big influence when trying to obtain a mortgage loan learn an easy form to keep it safe All your activities made through your lines of credit like credit cards, telephone companies, bank loans, students loans and specially mortgage loans, are registered in your very personal file…
[metaslider id=54395] Throughout the year 2018, some topics like “Mortgage rates” and “Home Prices” kept dominating the headlines on our newspapers and media making some of my clients postpone entertaining their home purchase idea, however, a higher number of my clients seized the opportunity of the still low mortgage rates and either got a second mortgage, seeking…
Housing Services is no longer accepting applications in 2025. Applications will reopen in 2026 pending budget approval. The Niagara Region homeownership program While in the Toronto area the residential average prices keep on the rise even after the federal government introduced new mortgage regulations in an attempt to cool off a steaming hot real estate market,…
Stress test mortgage qualifying rate The office of the Superintendent of Financial Institutions Canada has introduced a new Stress test mortgage qualifying rate coming to effect on January 1, 2018. “Quote: (http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx) OSFI is setting a new minimum qualifying rate, or “stress test,” for uninsured mortgages. Guideline B-20 now requires the minimum qualifying rate for uninsured…
The following is a smart edition prepared by CHMC and the Government of Canada and distributed to help advise our Mortgage Edge clients about the importance of managing a mortgage. We all receive advice on how to manage our homes, our business, our time, and now you can learn about how to manage your mortgage…
In the past couple of weeks since the Bank of Canada publicly increased the interest rate to 0.75% from 0.50%, we have been notified of by our numerous lenders that their mortgage rates are going up “despasito”, (slowly). The increase have affected immediately to those borrowers who had a variable rate mortgage, and then to…
Higher home prices & higher interest rates What people looking to be homebuyers can expect from the current home market headlines in the mass media? Now that higher home prices & higher interest rates (slightly) than last year’s are becoming rout news, and while the Bank of Canada has kept interest rates with no changes (for now), some people…
I’m excited to share a video, featuring Kurt Browning and his sons with you. In this video, Kurt talks about the features of a CHIP Reverse Mortgage and how it can help you stay in the home you love. This video will be a great way to learn more and it also has Kurt doing a…
On October 3rd, 2016 Bill Morneau, Minister of Finance announced “Preventative measures for healthy, competitive and stable housing market”. The intention is to address the growing household debt and rapidly rising house prices. Learn about the new qualifying federal mortgage rules changes that will affect your mortgage affordability during the qualification process and what can you do…
New rules affecting low ratio mortgages The new rules affecting low ratio mortgages or mortgages backed by portfolio insurance are effective from November 30th, 2016. The following are new mortgage rules for low ratio mortgages, (Over 20% down payment = low ratio mortgage) The new refinancing rules have been postponed to start taking effect on May 1, 2017,…
The new rules affecting high ratio mortgages are effective from October 17th, 2016. The following are new mortgage rules for high ratio mortgages, (under 20% down payment = high ratio mortgage). From October 17th, 2016 onwards all borrowers (including those seeking a mortgage with a 5 year or longer fixed rate, insured mortgage with a variable rate, fixed…
Considering co-signers to help your mortgage may be a very smart thing to do in regards to money-saving, however, this advantage may come with some potential risks that may end up consuming some of those savings or even worse, potential legal conflicts. A good family that I know wanted to buy a house to stop…
This promotion has expired If you are looking to refinance your current mortgage this limited time promotion might help you save even further. To optimize your savings, lower your borrowing cost, better your cash flow and most of all meet the financial goals you have set for the short and medium future, consider this not…
Interest rates down We have been informed of interest rates gone down and you should be informed as of which mortgage products are offering them. Employed people currently renting and with a rental contract coming up to renewal should be most interested. Sometimes life gets tough to some, and considering that there are ways and times…
Automatic mortgage renewal Be wise and observe the terms and amortization payments schedule in your mortgage to see how much you can save with your educated decision, rather than just the standard or automatic mortgage renewal from your lender. When you choose to renew on a yearly basis, you are also choosing to be subject…
Saved for closure story – Ms. Castor As in the story below, “Reverse Mortgage” can assist seniors 55+ keep and better what they have been able to amount in wealth with so many efforts throughout their life, providing a peace of mind, no hassles, just as they prefer it. Read the story here and then…
Here you have the Myths about Reverse mortgage. what to expect and what are the real facts Myths: The bank owns the home. People with a reverse mortgage will owe more than their house is worth. Reverse Mortgages are too expensive because the rates are high. A reverse mortgage is a solution of last resort. A…
Home buying step-by-step. All you need to know to help you make smart home buying decisions from start to finish, prepared by Canada Mortgage and Housing Corporation (CMHC). Is Homeownership Right for You? Are You Financially Ready? Which Home is Right for You? The Buying Process Now That You’re a Homeowner May I help you…
Chip – Reverse Mortgage – Income Advantage On a reverse mortgage, interests paid are tax-deductible and lower than the increase of the equity of your home Chip – Reverse mortgage A reverse mortgage is a loan secured against the value of your home. Unlike a loan or a regular mortgage, with CHIP you are not…
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