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Category Archives: Mortgage Advise
10 Questions First Time Homebuyers Should Ask
You’ve been putting funds aside for a down payment and are ready to buy your first house, and now it’s time to choose a REALTOR®. As a first-time homebuyer, you want to work with a REALTOR® who is trustworthy and will look out for your best interests. Purchasing a home is likely to be the largest investment you will make, so choosing a real …
The Home Foreclosure Process In Canada and How to Avoi...
What happens if a person is unable to make their mortgage payments? That they have breached their mortgage agreement and are now in default. In this circumstance, what will the lender do? Banks frequently initiate foreclosure proceedings. What Does Foreclosure Mean? Foreclosure is a legal procedure that must be followed. When a borrower defaults on payments, the lender sells or takes possession of the …
Mortgages Explained and Made Simple
Are you in the market for a new home and wanting to have mortgages explained a little clearer? Purchasing a house is a large investment. Homebuyers should be aware of the requirements for obtaining a loan. Different prices, amortization dates, and future fines, for example, must all be taken into account. A decent place to start is by talking to a mortgage broker or …
Bank of Canada and Canadian Real Estate Market Update ...
Bank of Canada continues to hold the prime rate The Bank of Canada held the prime rate once again. This was expected as our economy continues to struggle with the pandemic. The BOC is seeing gains in certain areas of our economy as businesses continue to try and get back to any sense of a normal operation. Manufacturers are beginning to ramp up their …
New Canadian mortgage regulations and what that means ...
New Canadian mortgage regulations and what that means for home buyers? Canadian home buyers have faced many new rules in the last year. The Office of Superintendents of Financial Institutions has implemented more rules which take effect January 1st 2018. We won’t go into all the details here, but lets review the Cole’s Notes version. All conventional and insured mortgages must be qualified at …
