Suddenly Rich? What to do Next
Most people dream of the day they won’t need to take out a second mortgage on their home to pay for renovations, or just to make ends meet. And many of us spend a lot of time thinking about how we’re going to provide for our family and loved ones in the future. Some of…
Read moreSave $1,000 in 10 Minutes
Many of us have made the New Year’s resolution to start saving more and spending less. We’ve even talked about it a great deal on this blog. And while that all sounds fine and well, how exactly can you do that? It might be easier than you think – and it could only take you…
Read moreCo-Signing a Mortgage: What, and Who, is It?
Many people start to panic when a lender tells them that they’ll need someone to co-sign a mortgage for them, but they shouldn’t. Needing a co-signer simply means that you nearly meet that lender’s requirements, but they need a little more reassurance that the loan will be paid off. When you have a co-signer on…
Read moreHow Much will Mortgage Insurance Cost you?
“We do a lot of talking on this blog about CMHC mortgage insurance, the high price it can cost you, and mostly, how to avoid paying it altogether. This insurance of course, is required by home buyers that have less than 20% for the down payment of their new home, and it protects the lender…
Read moreThings Not to Do in Debt Consolidation
Ah, debt consolidation! It sounds so wonderful, doesn’t it? Getting rid of those high interest rates and varying monthly balances, and just handing off all that debt to someone else in exchange for one low monthly payment. Yes, debt consolidation can be all of these things – if you do it properly. If not, it…
Read moreFour Ways to Avoid Private Mortgage Insurance
“A mortgage is expensive enough, right? So you definitely don’t want to be paying more than you have to on it. But, you might have to if you require private mortgage insurance. Private mortgage insurance is insurance that covers the lender should you default on the loan. It really holds no benefit to the homeowner,…
Read moreSelf-Employed and Getting a Mortgage: Get your Documents Ready!
For the past two weeks we’ve been exploring the different ways to get around the obstacles of obtaining a mortgage when you’re self-employed, and the many options that are available for those that work for themselves when it comes to home loans. But the process of getting a mortgage when you’re self-employed can be a bit more complicated than if you have a paycheque coming from the Big Boss every two weeks; and being armed with all the documentation you’ll need will help you get your mortgage that much quicker.
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