Getting a Mortgage? It’s Time to get a Will, Too!
Buying a home is a huge commitment. It’s a huge cost and, there are lots of responsibilities that go along with it. One of those responsibilities is often life insurance, and the option to buy mortgage life insurance. This type of life insurance will pay off the balance on your mortgage should you pass away….
Read moreING Direct Bought By Scotiabank!
ING Direct has been looking for a buyer for their Canadian business and now, they’ve found one in Scotiabank! In a deal that will be closed and finalized in December, Scotiabank has purchased won the bidding war over National Bank (the other interested buyer) and has purchased ING Direct for $3.1 billion. The move is…
Read moreAnother Mortgage War? Banks say ‘No Thanks’
We’ve seen it happen at least twice just this year. One major lender drops their rates on five-year fixed term mortgages and all the other banks soon follow. It’s happening again. Except this time, the major banks won’t have any part of it. It was on Thursday when True North Mortgage dropped their rates to…
Read moreWhat do the New OSFI Rules Mean for You?
While everyone’s talking about the new mortgage changes that went into effect on July 9, the new proposed changes by the Office of the Superintendent of Financial Institutions (OSFI) have gone almost unnoticed by consumers. But, depending on the province you live in and the type of lender you want to use, by the year’s…
Read moreQ & A: Mortgages for Self-Employed in Ontario
It’s no secret that getting a self-employed mortgage anywhere in the nation is pretty tough right now. The banks restricting their lending practices and the federal government imposing new rules every day has made this type of mortgage even more confusing and has left self-employed homebuyers with even more questions. Here are those questions you’ve…
Read moreCommonly Asked Questions about Bridge Loans in Ottawa
In their most simplest form, a bridge mortgage loan is funding that can be borrowed to cover a homeowner’s cost when they are selling one home and buying another. When this happens, often the closing date of the home that’s being sold is after the closing date of the home that’s being purchased. Relying on…
Read morePurchasing a Home Using Bridge Financing
It’s the age-old question that homeowners often have when they want to sell their home and buy a new one: Should I buy or sell first? Sometimes you may not even have a choice, but if you do, which one should you choose? This is only one of many questions that homeowners often have about…
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