Mortgages for self employed in Canada are rare as “special” programs, but you still can apply for a traditional mortgage from a bank. It’s not an easy process, but you can significantly increase your chances with some tricks. Here’s how to do it. What is Self-Employment First — the legal ground, just to be sure.… Continue reading Mortgages for Self Employed Canada: The Guide
Blend And Extend Mortgage: Main Tips
The Bank of Canada is signaling a faster pace in rate hikes. Here’s what it means for you and your blend and extend mortgage. According to the recent forecast, published by the entity, the first hikes in rates can already start as early as April of 2022, ending the era of record low-interest rates three… Continue reading Blend And Extend Mortgage: Main Tips
How Much Do Mortgage Brokers Make
A mortgage broker can become one of the most important people in your life since his job is to find a perfect offer for you and save thousands of dollars. It is quite a strange question to ask, how much do mortgage brokers make, so today we are going to talk more about ways mortgage… Continue reading How Much Do Mortgage Brokers Make
What an Average Age to Pay Off Mortgage Canada Is?
If you are starting to think of getting yourself a mortgage, you may also think about the average age to pay off mortgage canada. It is really worth knowing before making any deals because good planning of your expenses can save you thousands of dollars and millions of your nerve cells. An Average Age to… Continue reading What an Average Age to Pay Off Mortgage Canada Is?
What Does a Mortgage Broker Do
Finding a good mortgage is not that easy as just snapping your fingers. Moreover, each decision on this matter is crucial, that is why we need to know what does a mortgage broker do since he is a link between you and your bank. Will he help you? You will know if you read further!… Continue reading What Does a Mortgage Broker Do
Heloc vs Refinance vs New Mortgage. Which One is Better?
Imagine that you bought a house and started slowly paying off your mortgage, but something went wrong and you really need some cash. Do not worry, today’s have a lot of possibilities for that and it will be much better to choose between heloc vs refinance vs the second mortgage than having a new credit… Continue reading Heloc vs Refinance vs New Mortgage. Which One is Better?
CIBC Mortgage Discharge Fee
Imagine that you finally got a mortgage, but suddenly found better conditions with lower mortgage terms and a longer amortization period. So, it doesn’t really matter what you decide to do, transfer your mortgage to another lender or refinance it with better conditions, there is a cibc mortgage discharge fee as well as other prepayment… Continue reading CIBC Mortgage Discharge Fee
Interest Only Mortgage Explained
In this article, we will talk about such an option as an interest-only mortgage. The real estate market in Canada offers hundreds of thousands of options – from small studio apartments to luxurious three-story mansions. Accordingly, the offers of banks are also diverse and you can choose the best option suitable for your life and… Continue reading Interest Only Mortgage Explained
What Does a Joint Mortgage Mean?
Given the high cost of homes in most major Canadian cities, a joint mortgage might seem like a great idea. Owning a home individually can in many cases be costly and even unwise. This is why so many consumers choose a joint mortgage in Canada. As the name suggests, a joint mortgage (also known as… Continue reading What Does a Joint Mortgage Mean?
Open Mortgage vs Closed – the Key Differences
Purchasing property, many Canadians struggle to choose between an open mortgage vs. closed one. Choosing a house or apartment, each of us starts from our personal preferences and capabilities. Therefore, banks offer flexible programs with different conditions. One of these possibilities is an open or closed mortgage. One Variant — Different Meanings The distinguishing feature… Continue reading Open Mortgage vs Closed – the Key Differences