CMHC is Nearing Mortgage Insurance Cap
Many of us know about CMHC mortgage insurance; and those of us that do are either trying to find a way out of paying it, or are hoping that we never have to. But on Tuesday, the Canada Mortgage and Housing Corporation issued a statement to all major banks in Canada, saying that they were…
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 moreShould a Review of CMHC be Taken?
The Canadian Mortgage and Housing Corporation (CMHC) has helped millions of Canadian homeowners obtain a mortgage. But now the International Monetary Fund (IMF) has issued a report that suggests a review of the CMHC practices may be necessary, and that there may be a better way of doing things. The IMF is a global organization…
Read moreWhat Happens if a Co-Signer Passes Away?
No one wants to think about one of their loved ones passing away. But if you’re going to need a co-signer on your mortgage, or you want to be a co-signer on someone’s mortgage, it might be something you need to think about, especially if the co-signer is an older person. So, what does happen…
Read moreMortgage Apps to Help You
So you want to apply for a mortgage but before you even start speaking to lenders, you want to be able to calculate an approximation of what your mortgage payment will be. Maybe you don’t have access to your desktop right now, or maybe you’re on a crowded Toronto subway and you don’t want to…
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 moreThe Self Employed and Private Mortgages
When you’re self-employed, a private mortgage can be your best friend. Private mortgages are loans that are financed through a private individual or organization that are not a bank or other lender. You may have seen advertisements for homes with the banner ad “Owner-Financed” splashed across it – that’s a simple way of saying that property comes with the offer of a private mortgage. And when you’re self-employed, it can be just what you’re looking for.
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