Category: Mortgages (31 posts)
Why Borrowers May Choose a Private Mortgage
March 1, 2021 | Posted by: Carlos Tovar
Why Borrowers May Choose a Private Mortgage When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options. However, the ...read more
How to Handle a Mortgage After a Separation or Divorce
February 22, 2021 | Posted by: Carlos Tovar
Mortgage Life After Separation and Divorce Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial conseq ...read more
Reverse Mortgages – Impact on Heirs
December 14, 2020 | Posted by: Carlos Tovar
How do Reverse Mortgages Affect Canadian Heirs? For Canadian seniors, there is a great way to get the most out of the equity in their homes. Home prices tend to rise, and equity builds in the prope ...read more
When Is Mortgage Refinancing a Bad Idea?
November 2, 2020 | Posted by: Carlos Tovar
Property owners refinance their homes and commercial properties all the time. As your credit improves and you have built more equity into the property, it may make fiscal sense to refinance when inter ...read more
5 Smart Ways to Use a Home Equity Line of Credit
October 12, 2020 | Posted by: Carlos Tovar
For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always a ...read more
What should you consider when refinancing your mortgage?
October 5, 2020 | Posted by: Carlos Tovar
Mortgage rates are at a historic low. If you're thinking about refinancing your mortgage, you could possibly save significant amounts of money over the years. Especially in the first years of owning y ...read more
September 21, 2020 | Posted by: Carlos Tovar
If you find yourself in the position that you need help with your mortgage payments due to COVID-19 please reach out. Most lenders have options available to skip a payment or put a hold on a payment. ...read more
Should You Pay Off Your Mortgage Early?
September 7, 2020 | Posted by: Carlos Tovar
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will ex ...read more
How to Improve Your Chances of Being Approved for a Mortgage
March 2, 2020 | Posted by: Carlos Tovar
For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...read more
The Pros And Cons Of Reverse Mortgages - A Quick Guide
February 17, 2020 | Posted by: Carlos Tovar
No matter how carefully you plan, life can put a dent in your retirement funds. A life-altering accident or illness can turn your life upside down. Dipping into your retirement to meet uncovered expen ...read more
Why do Mortgage Rates Change?
January 27, 2020 | Posted by: Carlos Tovar
Let’s take a look at the factors that influence fixed and variable mortgage rates. Fixed Mortgage Rates The main factor affecting fixed mortgage rates is Government of Canada bond yields.&nb ...read more
New CMHC Self Employed Program Makes It Easier For Self Employed Borrowers
December 23, 2019 | Posted by: Carlos Tovar
Earlier this month Canadian Mortgage and Housing Corporation, the federal government mortgage insurance agency announced that they will make it easier for self-employed home buyers to get a mortgage ...read more
Borrowed Down Payment Program
December 16, 2019 | Posted by: Carlos Tovar
The flex down mortgage is an option where you can borrow the money for your down payment from a third party. This may include personal loans, lines of credit or personal loans. Please keep in mind ...read more
Renewing your mortgage?
December 9, 2019 | Posted by: Carlos Tovar
A great number of Canadians renew with their same lender, but it’s still important to check out your mortgage options. Rising mortgage interest rates and new stress testing rules are mak ...read more
Are interest rates important?
December 2, 2019 | Posted by: Carlos Tovar
What is the first thing that comes to your mind when you are thinking about getting a mortgage? If you are like the majority of Canadians you probably would say: rate. Although rate is important in ...read more
A pre-approved mortgage can help you look for a home with confidence
November 25, 2019 | Posted by: Carlos Tovar
Looking for the home of your dreams? Many homeowners think the first step is to start going to open houses and researching the market. However, even before you start looking for a house, it can be ...read more
Mortgage application tips
November 18, 2019 | Posted by: Carlos Tovar
The Importance of Being Prepared The most common reason for delays in getting approved for a mortgage is missing or incompleteinformation. As a home buyer, the best way to make sure your mortgage o ...read more
How much will my home really cost?
November 11, 2019 | Posted by: Carlos Tovar
Once you know what kind of mortgage you want and the price of the house you can afford, you should add up all of the other costs involved inbuying a house so that you know the true cost of buying yo ...read more
Payment Frequency Options
November 4, 2019 | Posted by: Carlos Tovar
Your banker and your smart brother-in-law have told you, “make bi-weekly accelerated payments and save thousands in mortgage interest!” So, weekly acceleraeted payments should save ...read more
Factors That Determine Mortgage Rates in Canada
October 28, 2019 | Posted by: Carlos Tovar
For many years now, mortgage rates have remained at historically low levels in Canada. Given the significant impact that mortgage rates have on the cost of homeownership and the housing market in ge ...read more
Bank of Canada keeps benchmark interest rate at 1.25%, now what?
October 21, 2019 | Posted by: Carlos Tovar
The Bank of Canada kept its key interest rate at 1.25%. However, the bank’s references to slowing household credit growth, firmer wages, and inflation running close to its two per cent ta ...read more
8 Things to Avoid Before You Buy a Home
October 14, 2019 | Posted by: Carlos Tovar
It may seem natural to apply for a credit card at a home improvement store or a furniture store when you are about to become a homeowner but applying for credit can lower your credit score. Not ...read more
Are interest hikes stopping prospective home-buyers from entering the Canadian market?
October 7, 2019 | Posted by: Carlos Tovar
Prospective homebuyers say they won’t be jumping into the Canadian housing market anytime soon if interest rates continue to rise. According to the Canada Mortgage and Housing Corporat ...read more
Should I Stay Variable or Should I Lock In?
September 30, 2019 | Posted by: Carlos Tovar
Your situation is going to be different from your neighbour, your best friend, any other home buyer or owner. Here are some important questions we need to tackle to determine if converting from a va ...read more
Fixed vs Variable
September 23, 2019 | Posted by: Carlos Tovar
The gap between variable rate mortgage and fixed rate mortgage products has narrowed in recent years. And while fixed rate mortgages are starting to rise they offer certainty in a monthly payme ...read more
First-time Homebuyers’ Five Biggest Mistakes
September 16, 2019 | Posted by: Carlos Tovar
Buying a home for the first-time is an exciting time. You’re making quite possibly the most significant financial transaction of your lifetime. You’re also making the exciting jump from ...read more
This is how some Canadians will try and get around the new mortgage rules
September 9, 2019 | Posted by: Carlos Tovar
The new year is here, and with it a new stress test for uninsured mortgage borrowers. Many industry experts have predicted that the test will shut first-time buyers out of the market — but t ...read more
Be Aware of Mortgage Penalties
September 2, 2019 | Posted by: Carlos Tovar
Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. But homebuyers need not fall into the trap of being st ...read more
OSFI Unveils New Stress-Test Rules
August 26, 2019 | Posted by: Carlos Tovar
Canada’s banking regulator unveiled the final changes to its mortgage underwriting standards—Guideline B-20—that will further tighten lending standards and affect borrow ...read more
Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!
July 29, 2019 | Posted by: Carlos Tovar
Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ...read more
Should You Spend the Full Mortgage Amount You're Approved For?
July 22, 2019 | Posted by: Carlos Tovar
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...read more