Canadas new mortgage rules can have an impact upon your mortgage, whether you’re looking to purchase your first home, or want to switch mortgages or refinance; the following guide should help you make an informed choice:
The following mortgage options are the most common, and knowing which one is best suited to you and your personal circumstances, can be achieved with the help of a qualified and experienced mortgage broker.
There can be many reasons for wanting (or needing) to renew your mortgage, from changes in your financial circumstances, to being dissatisfied with your existing lender, but whatever your reason, renewing can be a fantastic opportunity to make some much needed changes.
For anyone wanting to purchase their first property, the process can seem more than a little daunting, and knowing who to turn to for help and advice, not to mention your mortgage, can be confusing. To help you, here are the 3 main places to get your mortgage from:
It can be easy to miss private mortgage lenders among the noise and glossy advertising of Canada’s Big 5, but they are often viewed as saviours by some individuals or institutions when financing options are unavailable to them. Private mortgage lenders offer short term asset backed loans for the purchase of a property, and they can be a fantastic alternative to other, regular financing options, depending upon your circumstances.
You could be forgiven for thinking that Canadian mortgages had reached their lowest rates back in April, and that it simply wouldn’t be possible for the market to sustain these rates for long, however, it’s now June, and those rates are still at an all-time low. That said, with the market being as unpredictable as it is in these unusual and unprecedented times, experts can’t confidently predict whether rates will stay this way, go lower, or soar as the economy begins to pick up again.
Do you dream of one day owning your own home, but worry that a poor credit score will make your dreams unattainable? Fortunately, even if you do have bad or bruised credit, there is a potential solution, and while there aren’t as many mortgage options out there for those with a poor credit score, there are some.
Do you dream of one day owning your own home, but worry that a poor credit score will make your dreams unattainable? Fortunately, even if you do have bad or bruised credit, there is a potential solution, and while there aren’t as many mortgage options out there for those with a poor credit score, there are some.
Predictions made by experts within the housing and mortgage market, suggest that housing activity in Canada will continue to be strong throughout 2021 and even into the following year, and it’s estimated that 701,000 homes will be sold through Canadian MLS systems this year. It’s also predicted that the national average price of a home will grow by as much as 16.5% annually, hitting a high of $665,000.
Predictions made by experts within the housing and mortgage market, suggest that housing activity in Canada will continue to be strong throughout 2021 and even into the following year, and it’s estimated that 701,000 homes will be sold through Canadian MLS systems this year. It’s also predicted that the national average price of a home will grow by as much as 16.5% annually, hitting a high of $665,000.
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If you’re looking for a mortgage to buy a new property, then your best bet is to meet with an experienced mortgage broker who can help you find out your eligibility and choose the best option for your financial circumstances, from a range of lenders.
When it comes to buying a home, there are many options available to suit every need, and just as there are choices of properties, there are varying mortgage options, too. With closed, open, variable, fixed, 3-year, 5-year and so on, there should be a mortgage out there for you, and when you meet with a mortgage broker, they will talk you through your options. One of the points they will discuss with you, is whether you want an open mortgage or a closed one, and as each is designed to suit different borrowing needs, it’s important that you make the right choice.
When making what is likely to be the biggest purchase of your life, you want to be sure you get the very best deal possible, but how can you guarantee this? With so many banks, lenders and brokers all waiting eagerly to take your loan application, what can you do to ensure you get a great mortgage deal?
Are you about to buy a home for the first time, or is your mortgage up for renewal? If so, then the following mortgage tips could help you to save time and money. And don’t forget, for all the latest mortgage advice and guidance, seek help from a qualified mortgage broker, who will give you unbiased help based upon your specific circumstances:
If you’re considering purchasing your first home, you probably have a lot of questions about the mortgage process and may even be confused about some aspects of it. To help you make informed decisions as you head towards one of the biggest financial commitments of your life, here are a few guidelines and pointers:
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With the pandemic still affecting Canada as it is the rest of the world, many more Canadians will be staying at home this winter, making it an ideal time to search for, and buy a home that can meet all your needs and give you the perfect, functional space to live, work, play and work out in.