There are many people, both mortgage professionals and borrowers alike, who will swear that variable-rate mortgages are always the way to go. Their reasoning is that variable-rate mortgages have historically beat out fixed rates, or that variable-rate mortgages have always worked…
How to Get a Down Payment For a House in Canada
If you’re hoping to buy a home sometime in the near future, odds are you’ll need to take out a mortgage to finance it. But even though you’re borrowing money to finance the property, you’ll still need to come up with…
Building Credit
Your Canadian credit history tells the story of your financial life, it’s comprised of all the financial decisions and mistakes you’ve made since the first day you started using credit. It represents your financial life and your creditworthiness to potential lenders,…
Accelerated Mortgage Payments
Accelerated payments will be a little higher than the non-accelerated options, which is how they are beneficial. By simply accelerating your payments, you’ll be making the equivalent of roughly one additional monthly payment per year, which is applied 100% towards your…
A Step by Step Guide to the Mortgage Renewal Process
Did you know that you’re not obligated to stay with your current mortgage provider once your mortgage term is up? Many people simply receive a renewal email or notice in the mail and think that they are tied into working with…