Differences Between Mortgage Brokers and Mortgage Bankers
When first applying for a mortgage, you might find that there are mortgage brokers and there are bankers. But what about when you merge the two, and get a mortgage banker? What is a mortgage banker, and how do they differ from mortgage brokers?
Read moreHow Does Rent-to-Own Work?
We touched briefly on rent-to-own homes a couple of months ago when we explained how to recognize the scams from the legitimate offers on the market. And now that you know what you’re looking for, just how exactly do rent-to-own homes work?
Read moreMortgage Broker TV
Think about it. We watch decorating TV shows for countless hours on end (we must, there’s an entire industry dedicated to it.) We even watch shows where people look at new homes and try to decide on which ones to buy. So, why not watch a TV show about mortgage brokers, and how they help people get mortgages? This is the exact thing a B.C. mortgage broker asked himself; and in answer, he landed himself a role on a reality TV show that showcases the process of applying for, and giving, a mortgage.
Read moreWhat does it mean to “Port your Mortgage?”
More Canadians are starting to hear about porting a mortgage, and are wondering not only what that means, but also if it’s something they’ll benefit from. Porting a mortgage simply means taking your current mortgage, with its rates and terms, and moving it to another property. And yes, if you’re going to be moving and you love your current mortgage, porting your mortgage could have some pretty good advantages.
Read moreShould Mortgage Rules be Tightened Further?
Mortgage brokers and banking economists are at odds about whether or not Canada’s mortgage rules should be tightened once again, making it more difficult for more people to get mortgages. Mortgage brokers disagree with each other, and bankers can’t seem to agree among themselves either. But why are we even asking the question?
Read moreMortgage Brokers and Banks: The 3 Major Misconceptions
When it comes time to apply for a mortgage, you might wrestle with the decision to go through a mortgage broker, or to go through your bank. The one you’ll choose will ultimately be the one that’s best for you, but so many people automatically favour banks for their mortgages because they think bank mortgage loans carry more benefits than loans obtained through a mortgage broker. But, that’s not actually true. And you need to break through the major misconceptions before you make your choice.
Read moreBC = No HST, and That’s Good News for the Housing Market!
Last week’s referendum in British Columbia to scrap the HST had just about every Canadian wondering if the same thing could happen in their own province. In some maybe; in Ontario, no. Laws are different here and as such, we’re likely to live with the HST until some good-loving politician gets rid of it. But the people of BC are currently rejoicing and it’s no wonder why. With HST gone, residents are going to pay nearly half what we do in taxes for the things we buy, and that includes big purchases like a home mortgage.
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