Mortgage Requirements for Buying a Second Home for Parents in Toronto
When people are thinking of buying a second home, this one to be used and lived in by their parents, there’s a lot of confusion that goes around. What are the down payment requirements, and what are the requirements for getting a mortgage on a second property? These things can be confusing enough, but the…
Read moreMortgage Refinance Process for Loan Consolidation in Ottawa
Home refinancing can be a great option when you have too much debt and you’re looking for a way to pay if off sooner. By refinancing you will get rid of your old mortgage completely and replace it with a new one. However, when you get the new mortgage, you could apply for more than…
Read moreBest Mortgage Renewal Tips
When it’s time to renew your mortgage, your lender must by law send you a letter saying that your Toronto mortgage is about to expire. But, aside from the fact that the letter will say your mortgage will be over, it won’t tell you much. So, what are some tips to make sure that you…
Read moreDo you Have a Better Chance of Getting a Mortgage from a Mortgage Broker?
Canada is far behind our U.S. counterparts when it comes to homeowners using a mortgage broker to get them financing for the home they want. But slowly we’re starting to catch up as more and more Canadians begin to realize all the many benefits of working with a mortgage broker. The biggest question homebuyers usually…
Read moreProcess of Calculating HELOC Payments
We have already talked at great length on this blog about how to obtain a home equity line of credit by going to a Toronto mortgage broker and letting them do all the comparisons of different lenders and different rates for you. However, there’s a major step that comes after the application process – and…
Read moreHow do Progress Draw Mortgages Work in Toronto?
We’ve talked about construction loans, or progress draw mortgages, at great length on this blog. When you want to build a home, your construction loan will be divided into several different parts, called draws, to be released at different times during the construction period. But how exactly does the application process work? It’s no secret…
Read morePros and Cons of Secured Line of Credit Against your Home in Ontario
Everyone gets that borrowing is somewhat frowned upon; and that if you don’t need to do it, you really shouldn’t. But when you can be responsible with your borrowing, something such as a secured line of credit can be a real relief when there are no answers in sight, and you need financial help. But…
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