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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...
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...
09
May

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 middleman, they will negotiate the best rate for you. You may...
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....
31
Mar

5 Mistakes of a First Time Home Buyer

Are you having thoughts of becoming a first time home buyer? There are many benefits to owning your own home. However, you have to think and approach this in a smart manner by researching online mortgage calculators or asking questions with different financial advisors. But...
17
Mar

Canada household debt ratio hits new record of 163.3%

What would you be doing if you had some disposable income? Would you be paying off household debt, or getting further into debt? Canada’s Debt Ratio Statistics Canada says the ratio of household debt to disposable income hit a record high in the fourth quarter. As incomes...
12