The debate on which one is better fixed vs variable mortgage has been going on for a long time now. According to the statistics, people tend to choose fixed mortgages (approximately 65% of respondents). There are also variable (~28%) and combined (~7%) types of mortgages that are chosen less. Today we are going to talk… Continue reading Fixed vs Variable Mortgage
Category: Mortgage
Mortgage Cash Back
A nice bonus when buying a house is mortgage cash back. Cashback is firmly in our lives in every way. You can receive it in the shop, on your credit card or as a coupon or a present. Usually, it is not much, but it is always nice to have some of your paid money… Continue reading Mortgage Cash Back
Mortgage Default Insurance: What It Is and Why You Need It
Canadian banks only grant mortgage loans to financially reliable borrowers. There might be cases when they require mortgage default insurance to qualify for household financing with them. What is default insurance? Which specific features of it should you know? This article contains the answers to the most urgent questions about it. What Is Mortgage Default… Continue reading Mortgage Default Insurance: What It Is and Why You Need It
What is a Mortgage Pre Approval in Canada in 2021
Most young Canadian families are wondering, what is a mortgage and what is a mortgage pre approval? Obtaining pre approval is an important (but not necessary) step in the home buying process. Calculating your estimate gives you a clearer picture of your purchasing power. The most important argument in favor of this procedure is the… Continue reading What is a Mortgage Pre Approval in Canada in 2021
Mortgage Renewal vs Refinance in Canada: The Key Differences
In this article, we will look at the nuances of mortgage renewal vs. refinance. Now that bank rates have risen, many Canadians are wondering how best to deal with mortgages. Therefore, it is extremely important to understand what mortgage refinance is and how to extend the repayment period to your advantage. What is Mortgage Refinancing?… Continue reading Mortgage Renewal vs Refinance in Canada: The Key Differences
How Much are Lawyer Fees when Buying a House?
You finally have saved enough money for your down payment. Congratulations! But, wait… A friend of yours came to you and asked something about closing costs and how much are lawyer fees when buying a house. What?! You did not expect that at all. A lot of people underestimate closing costs, while they can eat… Continue reading How Much are Lawyer Fees when Buying a House?
What to Know about the First-Time Home Buyer Canada Incentive
If you are a first time home buyer canada we have really great news for you! You may be a participant of a special governmental program, for those who are new to mortgages. It is called First-Time Home Buyer Incentive and as you can guess from the title it is very useful for you, especially… Continue reading What to Know about the First-Time Home Buyer Canada Incentive
Biweekly Mortgage Payments vs Monthly. All You Need to Know
Despite the fact that you were able to save money for the down payment (or even not, it depends) there are still a lot of years ahead of you to pay your mortgage. When signing the documents you will need to choose biweekly mortgage payments vs monthly. This choice depends on your desires, whether you… Continue reading Biweekly Mortgage Payments vs Monthly. All You Need to Know
Questions To Ask a Mortgage Broker
Finding a good place to live is a real challenge and finding money to pay for it is even more challenging. To ease your life a bit you should definitely find a mortgage broker, so today we will talk about questions to ask a mortgage broker after you found him or her. Do not be… Continue reading Questions To Ask a Mortgage Broker
Mortgage For New Immigrants Canada
Moving to another country permanently is already a big deal. But if you even decided to buy a house in that country — you are a real hero to us. Especially for you, we will be talking about mortgage for new immigrants canada, what you can expect from it, what documents you will need, and… Continue reading Mortgage For New Immigrants Canada