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11
Sep

What is a Mortgage?

So you have decided to give up on the winning the lotto to pay for your first home purchase?  Well, rest assured you can still find the funds to purchase your home. We know that it can be overwhelming when trying to decide what to do and where to go. But what is a mortgage? It is...
11
Sep

What Are Different Mortgage Types?

When it comes to getting a mortgage it is good to know that there are several different mortgage types you can get based on your own specific needs.  Whether buying your first home, renovating your existing one or making that final dream home purchase, there are options available...
25
Aug

Mortgage with No Down Payment?

Wondering if you can get a mortgage without a down payment? The simple answer to this question is yes but no. Though there may be some advertisements out there stating NO DOWN PAYMENT, buyer beware!!!  Here in New Brunswick technically speaking you must have at least 5 % to put...
20
Aug

What is Default Insurance?

So you’ve noticed that you are paying an insurance premium on your mortgage and are wondering what it is and why you have no choice in this insurance option. This is called default insurance. Mortgage default insurance protects the lender from losing out should a mortgage default...
18
Aug

What is a Construction Mortgage?

Have you ever thought of building your dream home but have no idea how to finance it?  Well then a construction mortgage may be just the thing for you! We can help you understand the terms that will come with a construction mortgage and answer any questions you may have regarding...
18
Aug

Should I Choose a Fixed or Variable Rate Mortgage?

If you are trying to choose between a fixed or variable rate, it can seem to be a daunting task.  That is where we come in to help you choose the best option for you and your own personal situation.  The first step is understanding what a variable rate vs a fixed rate is. A...
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...
06
Jun

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. It can be difficult to come up with the large sum of money for a down payment, but this shouldn’t be the only thing that stands in your way between...
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...