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Many individuals have been excluded from getting a mortgage by strict lending guidelines that are used regularly by a multitude of lenders and banks. Private mortgages are a type of a mortgage loan whereby funds can be sourced from different kinds of institutions rather than borrowing from a bank. Typically short-term in length – for …

Continue reading "Private Mortgage Lenders: Criteria, Specialization and Why You Should Be Interested"

  Though purchasing a property outright with cash may seem like a good idea, there are plenty of reasons why getting a mortgage may be the fiscally smart thing to do. Tying yourself up to a real estate transaction may limit you down the road if other options or needs arise. For instance, if the …

Continue reading "Taking out a Mortgage Instead of Buying a Property in Cash"

This past year has been quite challenging for the community as the pandemic has left a lot of people feeling quite uncertain about their sense of financial security. Now is the time to budget and save your earnings efficiently. Implementing a financial plan is a great start In order to set yourself up for the …

Continue reading "How To Budget in the New Year"

Yesterday the Bank of Canada stated they would continue the overnight rate of 0.25%. The current Bank of Canada rate corresponding 1/2 percent and the deposit rate is a quarter percent. This is also known as a short term liquidly program resulting in a higher functioning market. The intended effect will be reduced market strains. …

Continue reading "Bank of Canada Rate Update During The Covid-19 Pandemic"

When thinking of buying home in Canada; it can quite expensive. Thus, before spending lump of money go for other options as well. For example, it is better to choose a mortgage. Mortgage, in basic terms, is a loan taken as opposed to a home. It is a loan agreement in which, the borrower, if …

Continue reading "How Mortgage Broker Makes Your Work Easy"

Home buying season is fast approaching as spring knocks. You must have pondered over the idea of moving into your own home from a rented one bedroom den or about buying a bigger home. But before you call a Mortgage broker, take a deep breath and get familiar with some important concepts you must know. …

Continue reading "Ask yourself this before you visit mortgage brokers in Mississauga"

There are several qualities in a mortgage which must be considered to ensure you have the mortgage structure that is right for you. Primarily, you must decide between an open versus closed term and a fixed versus variable interest rate. Below I have outlined the key points which characterize each of these elements. Fixed Rate …

Continue reading "Choosing the right mortgage"

As you start looking for a new home, you want to ensure that when you find your dream home that you do not lose it due to complexities in obtaining a mortgage. Obtaining a mortgage pre-approval will provide you with peace of mind, flexibility and simplify the process of securing a home. With a pre-approval …

Continue reading "The Value of a Pre-Approval"

Many are unaware of how their credit score is determined and of the impact it has on a mortgage. When obtaining a mortgage your credit score is a critical element used in approving you for the product and in determining your interest rate. When approving a mortgage the bank analyzes the amount of risk they …

Continue reading "Understanding Your Credit Score"

Debt consolidation is considered to be the most ideal way of providing clear escape from the current debts. People find it easy to just roll their larger debts into one simple loan at lower rate of interest. If you also wish to get out of the debt trap by consolidating your loan, you need to …

Continue reading "A to Z of Debt Consolidation Loans"