Category: Mortgage

When choosing a bank you should consider not only mortgage rate and payment options but also different fees that the bank can take from you. So, today we will illustrate the penalty for breaking mortgage scotiabank, show you how it is calculated, and tell you other useful information. Prepayment Penalties Prepayment penalty is a change… Continue reading Penalty for Breaking Mortgage Scotiabank

One of the first choices which you need to make, when you are applying for a mortgage is to choose one of the mortgage payment options. The most popular are weekly vs monthly mortgage payments. And, as you can guess, today we are going to talk about them, payment options in general, we will slightly… Continue reading Weekly vs Monthly Mortgage Payments

Imagine that you have already dealt with normal mortgages, you know everything about them and even already paid one, but here comes the commercial mortgage rate and commercial mortgages in general. You need this type of loan if you are a businessman, for example, self — employed or you want to invest in real estate.… Continue reading Commercial Mortgage Rate vs Mortgage Rate

Buying a house is certainly a stressful process. A prosperous homeowner usually worries about dozens of different things and one of them is a mortgage. Today we are going to talk about how long does a mortgage pre approval take, what it is, why you should do it, and a lot of other things. Long… Continue reading How Long Does a Mortgage Pre Approval Take

From the very beginning, from the very moment you have thought of getting a mortgage you need to make dozens of various choices. Will it be of collateral mortgages type or just a mortgage? Fixed or variable? Short term or long term? And so on, and so forth. Basically, the difference between collateral mortgages and… Continue reading What Is The Difference Between Collateral Mortgages And Normal Ones?

It may sound really strange, but as it follows from the title, it is the opposite of a mortgage, so instead of spending money each month — you receive them! What a miracle you may think, but how does a reverse mortgage work exactly? You can not just be paid for nothing. Do not worry,… Continue reading How Does a Reverse Mortgage Work

It can be really confusing and it is hard to tell the difference from the first glance between a mortgage term and amortization. But today we are here to tell you all the information we know. Firstly and shortly, amortization is bigger and more serious, it is the total length of your mortgage, while mortgage… Continue reading Mortgage Term vs. Amortization

Should you get a 30 year mortgage in Canada? Typically, most of these loans are limited to 25 years of repayment. But this term is not the maximum mortgage amortization. This loan is not subject to CMHC rules and has a lower ratio. However, if you decide to choose a loan with a high ratio,… Continue reading Features of 30 Year Mortgage in Canada

Purchase Plus Improvements mortgage is a great opportunity to purchase real estate and immediately make repairs to your liking. Many families are faced with the need to invest a huge part of the money in renovation work. If your funds are not enough or they simply do not exist, you can solve the problem by… Continue reading Purchase Plus Improvements Mortgage Explained

Seemingly, what can be so hard about approving a mortgage? But for some people, it can be a really stressful and long process. To ease your life a bit, we will talk today about the easiest bank to get a mortgage in canada and give you 7 useful tips. Getting a mortgage is not only… Continue reading Easiest Bank To Get A Mortgage In Canada — All Tips & Tricks