Requirements to get a Conventional Mortgage Loan in Toronto
Lots of people hear the term “conventional mortgage” and know that the phrase means a traditional, standard mortgage. But what is a traditional, standard mortgage? A standard mortgage is one in which the borrower has put down at least a 20 per cent down payment. This down payment is required on all conventional mortgages in…
Read moreThings to Remember After You Pay off Your Mortgage
It’s the day you’ve been waiting for. Dreaming about, even. And now it’s here. You’ve paid off your mortgage in Toronto, and now you have a great deal more in your personal monthly balance sheet than you did just a couple of months ago. So now, the really big question is: just what exactly do…
Read moreWhat Happens to Current Mortgage when Selling a House in Toronto
Selling your home is such an exciting time! You’re about to embark on a new journey in your life and there are a lot of fun changes ahead. But first, you’ll have to figure out what to do with your existing mortgage. So, what happens to your mortgage in Toronto when you sell your home?…
Read moreWill Toronto Housing Correct in 2012?
Is this the year that a mortgage in Toronto will become more affordable? When comparing sales figures from last year to this year, it seems that it might just be. Compared with June of last year, sales in the big city dropped 13 per cent in June 2012, according to the Toronto Real Estate Board….
Read moreHow to Choose REITs
On Friday in our mini-series about REITs in Canada, we looked at the different types of REITs you could buy. But there’s a lot more to choosing a REIT than just knowing whether you want one that deals in retail space or one that’s directly tied to Canadian mortgages. Just like any other shares you’re…
Read more3 Options for Getting a Mortgage with Bad Credit
Truthfully, you have lots of options for getting a mortgage with bad credit. While you’re most likely going to pay higher interest rates, bad credit doesn’t always automatically mean you’re doomed when it comes to buying a home; and once you start looking, you’ll find there are options you never even thought of, or knew…
Read moreWhat the Interest Rate is Going to Do
Everyone eagerly waited to see what the Bank of Canada would do with the interest rate yesterday, as many homeowners sat waiting to see if now would be a good time to refinance their mortgage. It was expected that the overnight rate would remain at 1%, the same rate it’s been since September of 2010…
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