Navigating Mortgages with Bad Credit: Finding Hope and Solutions

Mortgage Matters Blog KEEPING IT SIMPLE! Navigating Mortgages with Bad Credit: Finding Hope and Solutions If you’re worried about purchasing a home or renewing your mortgage due to bad credit, you’re not alone. Many people face similar challenges and feel the stress and uncertainty that comes with it. However, it’s important to know that there…

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CHOOSING YOUR AMORTIZATION

Mortgage Matters Blog KEEPING IT SIMPLE! CHOOSING YOUR AMORITZATION The choice of your mortgage amortization period, representing the number of years required to become debt-free, is a decision of great consequence as it directly impacts the total interest you’ll pay over the life of your mortgage.  The amortization is also known as the life of…

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WHAT IS CREDITOR MORTGAGE INSURANCE?

Mortgage Matters Blog KEEPING IT SIMPLE! WHAT IS MORTGAGE INSURANCE? Why is it so important? Securing your dream home involves more than signing a deed—it requires safeguarding against unforeseen circumstances. Enter creditor mortgage insurance, a crucial shield for homeowners. Simply put, this insurance serves as a safety net, offering financial protection for your loved ones…

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LOOKING BEYOND MORTGAGE RATES

Mortgage Matters Blog KEEPING IT SIMPLE! LOOKING BEYOND MORTGAGE RATES While it’s tempting to rely on comparing mortgage rates as the ultimate method for securing the best mortgage deal, this approach doesn’t always hold up in various scenarios. Here are three compelling reasons why making a decision solely based on rates may not be the…

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BUDGETING TOWARDS HOMEOWNERSHIP

Mortgage Matters Blog KEEPING IT SIMPLE! BUDGETING TOWARDS HOME OWNERSHIP Transitioning from renting to homeownership is one of life’s most momentous decisions. However, this shift can become quite taxing if you fail to plan ahead, establish a budget, and save money before embarking on your homeownership journey. Budgeting plays a pivotal role in mitigating the…

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WHY A MORTGAGE PRE APPROVAL IS SO IMPORTANT

Mortgage Matters Blog KEEPING IT SIMPLE! WHY A PRE APPROVAL IS SO IMPORTANT! Before embarking on your quest for a new home, obtaining a mortgage pre-approval is a non-negotiable prerequisite.  Along with my guidance, this equips you with the confidence needed to navigate the home-buying process effectively.  With a mortgage pre-approval, a seasoned mortgage specialist,…

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WHY WORK WITH A MORTGAGE PROFESSIONAL

Mortgage Matters Blog KEEPING IT SIMPLE! WHY CHOOSE TO WORK WITH A MORTGAGE PROFESSIONAL (LIKE ME!) In Canada, securing a mortgage typically involves two main options: either through a bank or with the assistance of a licensed mortgage professional. Banks, as a rule, offer mortgage products exclusively from their own institution. In contrast, licensed mortgage…

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Qualifying Rate Vs. Contract Rate

October 17 2016 there was a change to the mortgage rules for insured mortgages. An insured mortgage is one in which the borrower puts a down payment of less than 20% of the value of the property.  The new rule requires these borrowers to QUALIFY at the contract rate or the Bank of Canada posted…

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New Mortgage Rules

On October 3rd 2016 the Canadian Department of Finance announced stricter rules for specific types of mortgage products.  This is latest of many rule changes in the past eight years geared towards …. To see the specific details on the changes  got to http://www.fin.gc.ca/n16/data/16-117_2-eng.asp There have been many recent articles that review and explain these…

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