Topic: Mortgages

mortgage-broker-benefit

Advantages of using a Mortgage Broker

By: igill

Mortgage Brokers are your personal shopper when it comes to mortgages. Brokers will have access to many lenders, each of them servicing a certain type of borrower. Brokers can present your application to the right lender, knowing which one will be a great fit. Using established relationships with lenders and presenting the file to them …

down payment minimum

Saving for a Down Payment

By: Elias Kellendonk

Any down payment that totals less than 20 per cent of the property value will require mortgage default insurance, and be considered a high ratio loan.

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Don't be Afraid to Talk to a Mortgage Broker

By: Elias Kellendonk

Halloween aside, this October has plenty of reasons to get you spooked, what with a recession, a long and tiring election campaign, and recent world events. Plenty of reasons, but your mortgage need not be one of them. We’re here to help in this frightful time, no matter if you’re buying a home, renewing your …

Home hunting tips

Happy Home Hunting Tips for Canadians

By: Elias Kellendonk

Finding the right home for you comes down to three chief factors: affordability, lifestyle, and your future needs.

Lower Home Prices

House prices expected to drop in 2017

By: igill

Canadian realtors are forecasting a price drop across Canada for the first time since 2008. They blame the new mortgage regulations brought in by the federal government in the last quarter of 2016.

Longer mortgage amortizations.

Longer amortizations…why do they cost more?

By: igill

With new regulations, insured mortgages have a maximum 25 year amortization. Banks often choose to insure low ratio mortgages, and cover the cost themselves. Having insured mortgages allows banks to off load the risk and securitize these mortgages.

New mortgage insurance rules.

Mortgage insurance rule changes…how will they affect you?

By: Tamar Leis

In October and November this year the Government of Canada made changes to mortgage insurance requirements. Mortgage insurance is provided by three companies in Canada. The biggest provider of mortgage insurance is CMHC a crown corporation. This insurance is paid for by the borrower and protects the lender in case of default. It reduces the …

How the recent rate cuts may impact mortgage regulations

By: mkerzner

With the latest Bank of Canada (BoC) rate cut to 0.50% comes a reminder that many would like us to believe our housing market is tenuous. Once again there is a lot of discussion about just how overheated our market is and the dire circumstances many current home buyers are likely to find themselves at …

Mortgage Rules

Flaherty Tightens Canadian Mortgage Rules.

By: Elias Kellendonk

Come July 9th, the CMHC will no longer insure mortgages with amortizations longer than 25 years, and will further limit the amount a homeowner can refinance their mortgage to 80%, down from 85%.

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