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renew
11
Aug

Mortgage Renewal: Should I take the Bank’s Offer or Shop Around?

CONGRATS!!!  You’ve reached a mortgage renewal!!!!  This means that you have reached the end of a term within your mortgage agreement.  The question is do you take the offer your current lender has sent you or shop around? You may think that because you have been a great client...
20
Jun

What is the Difference Between an Open Mortgage and Closed Mortgage?

It’s good to know as much as you possibly can about your mortgage before you sign the agreement. You don’t want there to be any surprises and having a basic knowledge of the different types of mortgages can help you feel more secure in the overall process. Knowing...
16
Jun

What is The Difference Between Mortgage Insurance and Term Insurance?

Congratulations! You just bought the biggest purchase in your lifetime, which would be your home. Now you must be wondering what you can do to protect this investment. The answer to that would be insurance. But with so many advertisements and numbers complicating everything,...
06
Jun

Can I use My RRSPs for a Down Payment?

You may be asking yourself, Can I use My RRSPs for a Down Payment? Coming up with money for a down payment for a mortgage could be the only thing standing in the way for a potential homeowner. For some people it is the hardest part in obtaining a mortgage. It can be difficult to...
02
Jun

What is the CMHC?

The CMHC (Canadian Mortgage and Housing Corporation) has been Canada’s housing authority for more than 65 years. The CMHC contributes to the housing market and financial system to help support Canadians with their housing needs. They have information on almost anything...
22
May

What is the difference between a fixed and variable rate?

One of the first steps when picking a mortgage is picking what type of mortgage you want. Knowing the difference between a fixed and variable rate will help you determine the type of mortgage you want. A Fixed Rate Mortgage means that whenever you sign your mortgage you are...
16
May

Mortgage Broker Fees – Do You Have to Pay Mortgage Broker Fees?

Have you decided you want to go through a mortgage broker instead of a bank for your mortgage, even if you are still deciding we can help.. But one question you might be wanting to know is, Do you charge any mortgage broker fees? Even though a mortgage broker doesn’t charge...
09
May

What is the Difference Between a Bank and a Mortgage Broker?

What is the Difference Between a Bank and a Mortgage Broker? In the past, people went almost exclusively to their banks for their mortgages. Now we have many more options for anyone when they looking for a mortgage, including a mortgage broker. A Mortgage broker is basically the...
29
Apr

Mortgage Rate at an All Time Low – Meridian Credit Union

Mortgage rates seem to be getting a little better but do you qualify for this low rate? Ontario’s largest credit union has taken the term mortgage rate to an all time low— 1.49 per cent. What are the criteria for this low mortgage rate? The unusual offer from Meridian Credit...
22
Apr

Mortgage Poll for Home Buyers by Scotia Bank

Just one-in-three (33%) Canadian home buyers with a mortgage have read their entire mortgage agreement according to the 2015 Scotiabank Mortgage Poll. Of those who have read at least some of their mortgage agreement, only 27% understood all of the details in the agreement....