Mortgage Prepayment Penalty
A mortgage is a hefty financial commitment to repay a large sum of money to a lender to buy a home. Considering this, the thought of paying all the money that you owe before it’s actually due might be far from your thoughts when you initially take out a mortgage. Read More
What is a Cash-Out Refinance?
There are certain things in life that are very expensive and may require more cash to cover than the majority of us might have in our bank accounts. That’s why many consumers tend to take out loans to cover such expensive costs. People who own homes may also consider… Read More
Retiring With a Mortgage in Canada
After spending your entire life working hard at your job and paying all of your bills, retirement should be a time to finally be rid of the daily grind and the mounting bills. While there are obviously still bills to pay in retirement, one large bill that many retirees tend… Read More
Minimum Credit Score Required For a Mortgage in 2019
Getting approved for a mortgage these days can be a real challenge, especially with housing prices constantly on the rise. In Toronto, for instance, you’ll be paying over $820,000 for a home, which is nearly $100K more than the average price in the city the year before. Read More
How to Negotiate The Best Mortgage Contract In 2019
Most Canadians who become homeowners typically need to take out a mortgage to help finance such a massive purchase. And as you may already be aware of, a lower rate on your mortgage is ideally what you want (or is it? learn more here… Read More
Loan-To-Value (LTV) Ratio
When you apply for a mortgage or another type of loan, the lender will want to assess a number of important factors before determining whether or not to approve your loan application. One of these factors is your loan-to-value ratio (LTV). Read More
What Will Happen To My House After I File For Bankruptcy?
Your home is probably one of the most valuable investments you’ll make in your lifetime. Not only that, if you have a house, you’ve probably become attached to it and comfortable with your lifestyle there. If you’re going through a bankruptcy, it is likely that… Read More
How to Build Home Equity in Canada
Are you currently in the process of mortgaging a home in Canada? If so, did you know that you are building equity as you pay off your mortgage? Home Equity: What is it and How Do I Calculate It? The concept of… Read More
How to Get a Second Mortgage in Toronto
Do you have a large expense that you need to pay for and are considering taking out a loan to cover it? While you could always take out a personal loan or even spend against your credit card… Read More