Tag

mortgage broker
Think outside of the bank 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 …..” “I don’t trust those other guys”…..these are a few of the...
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What type of mortgage is right for you Sorry to rain on your parade folks, but there is a lot more to choosing your mortgage than simply hammering your banker into submission and nailing the lowest interest rate possible. Would you choose the cheapest new home on the market, regardless of where it was located?...
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CMHC rule changes affect real estate values Yesterday Canada Mortgage And Housing Corporation (CMHC) made a significant announcement about their lending guidelines for self employed “stated income” mortgages and also mortgages on “second homes”. Effective May 30, 2014 they will no longer offer such products – period. Here is the actual CMHC announcement April 25,...
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Can Our Mortgage Interest Rate Go Down Before Closing? Hey Ross, last week we signed up for a new mortgage – we got 2.99% for five years. We were hoping to get 2.89%, since some of our friends got that recently. Is there any chance our rate can go down before we close our purchase...
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The Cost of Refinancing Your Mortgage Suppose you decide to take some equity out of your home to pay for that new basement, or perhaps to pay off your debts. You arrange a new mortgage; go to the lawyer’s office to sign the papers, and the next day there is a cheque waiting for you...
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Cash Back Mortgages Not So Sexy These Days Blair Anderson, the mastermind behind www.mortgageresource.ca, wrote today’s post. In its heyday, the cash-back mortgage was a versatile cash incentive lenders offered you for taking out a mortgage. The amount of cash you received was a percentage of the loan amount, and the longer the term, the greater the...
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Semi detached for $580,000 in the suburbs I try to ignore the doomsayers who glee in predicting the imminent demise of our real estate market. And so far, I have been right, as home prices continue to climb “The Wall of Worry”, in spite of increasingly tougher lending guidelines. But at some point, a sanity...
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Dear Ross, I recently made an offer to buy a retail unit for $240,000 in a new mall presently under construction. I plan to run a business there, while maintaining my present job. I think I need a commercial mortgage to finance this purchase. I have already paid 25% of the purchase price to the...
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Our focus is on two things – helping people get out of debt, and helping people get a mortgage – regardless of their circumstances. Here you can read stories of real people, and how we helped them beat debt and bad credit. Our first meeting to assess any aspect of your personal finances is FREE.
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