Tag Archives: Realty Kelowna

Mortgage Calculators Help to Determine What You Can Afford

Are you thinking of buying a home but have no idea what you can afford? Mortgage calculators take the guesswork out of finding out what your payments will be based on any amount borrowed. Going online makes doing the calculations a simple and convenient way to find out this valuable information. How a Mortgage Calculator … Read More

Variable Rate vs. Fixed Rate: the Great Mortgage Debate

Home owners have been able to take advantage of historically low mortgage rates for the past several years. Whether they are buying a home or making a decision to refinance a mortgage, the question about choosing a variable rate vs. fixed rate mortgage always comes up. To determine which one is best for you, consider … 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

Rates Aren’t the Only Factor to Look at When Considering a Mortgage

Are you looking for a new mortgage or refinancing your home in the near future? What is the first thing that crosses your mind? Many people are firmly focused on rates, and while that is an important consideration, it’s not the only thing they should be considering when looking for a mortgage. There are other … 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’s the Difference Between a Mortgage Broker and a (Bank’s) Mortgage Specialist?

At one time, home buyers who wanted to take out a mortgage went to a bank. Now, the market has changed and consumers have more options available to them. Independent mortgage brokers are specialists who have relationships with multiple lenders who can offer funding at various rates. Since they have access to several sources of … Read More

How to Get the Best Deal on your Home Insurance

Your home is your castle, and you want to make sure that it is properly protected with the right homeowner’s insurance. If your goal is to get the best deal on your coverage, there are some things you can do to make sure that are not overpaying for this necessary financial product.   Get the … 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

4 Important Questions to Ask before you Talk to a Mortgage Broker

If you are in the market for a mortgage, there are a few questions you should be asking yourself if you will be purchasing a house on your own or discussing with your spouse/partner or your co-buyer before you talk to a mortgage broker. Making some decisions and gathering some information in advance will make … Read More