Virtually any time you apply for credit or financing you are entering into a contract, the elements of which you need be cognizant of.
With the Canada Mortgage and Housing Corporation’s multi-unit insurance coverage, a commercial investor can attain up to 85 per cent financing toward their commercial purchase.
The purchaser will be paying interest on every dollar of the home’s value, as opposed to nicking off a good chunk, interest free, with a down payment.
Foreign lenders, outside of large banks and insurance companies, are upping the commercial financing available for non-prime commercial borrowers.
Your credit score is one of the weightier elements used by lenders to determine your eligibility to receive financing and to decide the rate they will charge for your mortgage.
The online mortgage calculator does all the math for you, and is a great asset in determining your true budget for home buying.
50 per cent of (or 2.1 million) Canadian households renovated their homes in 2009, and just over 40 per cent intend to this year.