Category: Mortgage

Purchasing a property requires some effort and energy, so you certainly don’t want to put your mortgage plans aside and file for a different one, right?  Refinance might save large sums of money, which is the most beneficial period to take this action.  Meaning of Refinancing a Mortgage To refinance is to trade mortgages effectively.… Continue reading Why is it the Perfect Time for Refinancing Your Mortgage?

First, we had the Summer 2020 changes, new stricter rules for underwriting by the CMHC. Now — in 2021 — those changes are going down, and new rules come in full force. How to get a mortgage with the new guidelines and use them to your advantage? And why the changes won’t define your approval?… Continue reading 2021 CMHC Changes — Why Are Things Going Back to “Normal”?

Keys to understand what is a subprime mortgage and whether it’s is the best option for you.  Subprime mortgage or subprime lending is a type of lending which imposes greater risks for the lender and harder conditions for the borrower.  Usually, a subprime mortgage is granted to people unable to qualify for a prime mortgage. … Continue reading Subprime Mortgage in Canada — The Full 2021 Guide

Why are many people interested in the issue of collateral vs conventional mortgage today? Which option to choose when buying a home? Houses in Canada tend to rise in price every year due to the constant influx of new immigrants and growing demand.  Having a home is a dream and a goal for many because… Continue reading How to Buy a Home in Canada: Collateral vs Conventional Mortgage

Do you need mortgage underwriter? Mortgage loans are associated with risks by both parties. The bank wants to know if they can trust you with the money, and you want to know whether you can trust the bank. While your weapon of choice is mostly research — the bank has professional mortgage underwriter to make… Continue reading Mortgage Underwriter: What They Do and How to Make Them Your Ally

What’s the difference between mortgagee vs mortgagor? The mortgagee is the lender, the mortgagor is the borrower. Now, why do we not use simple words and make things so complicated? Leo Tolstoy’s “War and Peace” and “Finnegan’s Wake” by James Joyce can fight for the title of the “hardest to read” book, but we’re pretty… Continue reading Mortgagee vs Mortgagor Definitions and Meaning

A home appraisal is a big part of any real estate deal, but luckily — not the most expensive one. Here’s all you need to know about it in 2021.  Whether you sell your house or want to buy one — you need a professional to look at it to tell you the true value.… Continue reading Home Appraisal Cost in Canada: How Much and Why You Need it in 2021

There can be various situations in life – sometimes, we need to remove name from property title Ontario. Here is the ultimate guide on how to do that According to the rules in force, all the property owners should be listed in the documents relating to that property. However, life is unpredictable, and in some… Continue reading How to remove name from property title Ontario

A mortgage is like your step-brother from the countryside that came to help with the renovation: he’s helpful, you couldn’t do it all alone, but if he decides to stay at your place for the next 30 years — you wouldn’t be happy. Here’s how to politely ask it to leave — paying off mortgage… Continue reading Paying Off Mortgage Early: The Realistic Guide