Category Archives: Mortgage Help

How People New To Canada Can Obtain A Mortgage

Getting settled in a new country comes with a number of challenges, but in most cases people who are new to Canada can obtain a mortgage at competitive rates. The guidelines and financing options are different depending on the situation: In Canada on a work visa or an employed landed immigrant Non-landed immigrants who are … Read More

Is The Bank Of Canada’s .75% Interest Rate Something You Should Pass Up?

When the Bank of Canada (BoC) reduced its key interest rate by 25 basis points to 0.75 percent, it certainly was a bold move that made a lot of people sit up and take notice. At first, consumers were waiting hopefully for Canada’s Big Banks to drop their prime rates by the full quarter point … Read More

What EVERY Mortgage Calculator Should Be Telling You

A simple mortgage calculator can tell you how much your mortgage payment will be at different interest rates at the term you select. You can even find out how much your payment will be if you decide to pay your mortgage monthly, semi-monthly, bi-weekly, weekly or make accelerated bi-weekly or weekly payments. Your mortgage calculator … Read More

Should You Consider Getting “Mortgage Insurance”?

Your mortgage is likely the largest debt you will ever take on in your life. If something were to happen to you, would you like to see it paid off so that your surviving spouse or partner or your children can have the benefit of a mortgage-free home? Mortgage insurance is a good idea, but … Read More

Should You Re-Finance Your Mortgage This Spring?

As the weather starts to warm up, it’s natural to think about home improvements. Are you also thinking about whether you could improve your finances by deciding to re-finance your mortgage this spring? There are some good reasons why you should consider making a change now. Why Finance your Mortgage this Spring You Can Get … Read More

The Secrets To Using A Mortgage Calculator To Your Advantage

Mortgage calculators can be used to tell you how much you will pay on a mortgage of a set amount at a particular interest rate, but they can be used to show you a lot more information as well. You can use a mortgage calculator to your advantage to find out other helpful information you … Read More

How to Qualify for a Mortgage if you are Self-employed

If you have decided to take the leap into self-employment within the last couple of years, Congratulations! You have done something that a lot of people dream about and talk about but never have the nerve to do. Striking out on your own comes with many challenges, but there are just as many rewards for … Read More

Choose the Right Mortgage Amortization Period

Most people who buy a home don’t pay the entire amount in cash. Instead, they make a down payment of a percentage of the purchase price and take out a loan for the balance owing. The mortgage is paid back over a certain number of years, with interest. As a mortgage consumer, you can choose … Read More

What is an Accelerated Mortgage Payment and How it can Help you Pay off your Mortgage Faster

An accelerated mortgage payment is one where you pay your lender either an additional payment or a larger payment than the one you are required to under your mortgage agreement. Each lender will have its own rules for making this type of payment. In some instances, you will be able to make your extra payment … Read More

What do Mortgage Lenders Look for When Deciding Whether to Approve an Application

When a bank or other mortgage lender receives an application for funding, what kinds of things do you suppose they look at? Is getting a loan stacked in favour of people who are making large incomes only? Not necessarily. There is more than one factor that lenders look at when deciding who will be successful … Read More