Category

Mortgage Renewals & Refinancing
Text:Rising Interest Rates And Your Mortgage Background: Well-lit home in the evening
Published: • Since the summer of 2017 we have seen the Bank of Canada Prime interest rate increase five times – from a low of 2.7% to the current 3.95%. This means that most homeowners with variable rate mortgages saw their mortgage payment increase five times in eighteen months! At the same time, five-year fixed...
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Published:   •   Bad News for Mortgage Renewals in Canada What if I told you your mortgage renewal might offer a shockingly high-interest rate? Or that now, some mortgage lenders require a property appraisal at renewal time, and some even check your credit or confirm your income and employment prior to renewing your mortgage? Last month...
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Published: • The convenience of auto-renewing your mortgage is compelling but may be a very poor financial decision on your part. The mortgage industry is changing rapidly, and for strong borrowers, it really is a buyers’ market. It just takes a little extra effort on your part, and you may save yourself thousands of dollars....
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Published:   •   The Truth about Alternative Mortgage Lenders Some members of the media have gone overboard painting a dark and dour picture of alternative mortgage lenders. The impression they give is that a bank mortgage is lily-white-extra-virgin-be-all-and-end-all, and anything else is inferior — and perhaps unsavoury. We hear terms like shadow lending, sub-prime lending, private lending,...
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If you are a homeowner in the middle of a consumer proposal, did you know you can get a home equity loan or mortgage refinancing to pay off your consumer proposal and get on with your life? There are several reasons why you might do this: Keep more of your pay every month. Your overall...
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Published: • Your Bank Isn’t Always The Best Choice For A Mortgage Most of us have accounts with a chartered bank, so it’s natural we turn to them when we need a mortgage. “It’s convenient to have it all in one place.” “They know my situation best.” “My family has always done their mortgage with…”...
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Published: • Got equity in your home? 7 ways you can make it work for you One of the nice things about being in the real estate industry for so long is I have seen lots of examples of Canadians boosting their net worth dramatically by virtue of building equity in their home. When I...
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How To Take Equity Out of Your Home When You Need Additional Cash One of the benefits of our bullish real estate market is many of you have accumulated substantial equity in your homes. Some are content to think of this as a core part of their retirement plan, while others are itching to put...
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Published:   •  Tapping into your home equity can help you reach your goals faster! Refinancing is the process that pays the existing mortgage and/or any other legal claims against the property and sets-up a completely new mortgage. Refinancing can save you lots of money when market interest rates drop one or more percentage points...
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