Cash-Out vs. Cash-In Home Refinancing
There’s been a lot of talk about home refinancing these days. And with interest rates so low, it makes perfect sense. But, before you get all excited and start thinking that now is the time for you to refinance your home too, you need to know a couple things. The first is that if you’re considering home refinancing, you need to know what the amount of your mortgage is, and how much you owe. These two amounts will determine if you will be eligible for cash-out home refinancing, or if you’ll need a cash-in home refinancing. And of course, you should also know the difference between the two.
Read moreThings We’re Thankful For
It’s Thanksgiving and while we sit around stuffing ourselves with turkey and well, stuffing, let’s look at some of the main things that we as Canadians have to be thankful for this year.
Read moreA Quick Lesson from Mary Bach
Lately, we Canadians have been somewhat guilty of holding our noses up to our friendly neighbours across the border. Yes, the States’ economy is in a little bit of trouble, and yes, ours is doing much better for the time being. But it turns out that even with bad decisions and a tumbling housing market, there are a few Americans that we can take a lesson from – or at least one of them at least. While it may not be breaking mortgage news, Mary Bach has recently given all Canadians a very important lesson in the value of a dollar. Or rather, the value of two cents.
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 moreWhat are Canadian Requirements for Refinancing Your Home?
Refinancing your home essentially means that you turn in your existing mortgage in order to get a better deal on a new one. And with interest rates as low as they are, more and more Canadians are understanding that if they’re interested in home refinancing, there’s no better time than now. What they don’t understand exactly is what they need in order to be eligible for it.
Read moreWhat’s the Difference Between a Second Mortgage and Home Equity Loan?
Second mortgages, home equity loans, home equity lines of credit – what’s the difference? If you’re a homeowner and looking to borrow money by tapping into your home equity, these are just a few of the different terms you’re likely to hear, and you might be wondering what the difference is. Is there a difference between a second mortgage and a home equity loan? And how does a home equity loan differ from a home equity line of credit?
Read moreCanada is not in a housing bubble; but is that cause for concern?
The housing market in Canada is one that walks a fine line. It slows down too much, and people start panicking. It picks up speed, as it has recently, and people start panicking. The current reason for this latter panic is because mortgage interest rates are so low, more and more people are starting to take on mortgages. This then, has the potential to lead to the dreaded “bubble” – and even worse, the bubble burst – when people gobble up new homes at low rates, only to later find that they can’t afford them. And the panic in Canada right now is that this burst is going to happen on a multi-million scale
Read more
Contact Us
Contact us today to set up an appointment.