There’s a lot of paperwork involved in sorting out a mortgage. Instead of pulling it all together at the last minute, slowly start to organize your documents now, so that you’ll be better prepared when it comes time to close the deal.
In order to buy a home (or to get a mortgage to buy a home) you need to have a down payment, which has to be at least 5% of the home’s purchase price. Lenders typically group mortgage shoppers with deposits between 5 – 20% of the home purchase price, into the ‘slightly higher risk’ category. In order for the lender to protect against this increased risk, mortgage default insurance is required.
Did you know that changing your payment schedule can mean paying off your mortgage in less time and saving loads of money? Here are the different types of mortgage repayment options.
What is a mortgage broker and why you should use one.
The Bank of Canada confirms it: “those who shop around really do get better deals on mortgage rates.” Here’s why comparing mortgage rates can saves you money.
All about mortgage refinancing. What it is, when you need to do it and the benefits.
All you want is the best mortgage product at the best possible rate, so you aren’t wasting money on paying higher interest charges then you have to on what is probably be the largest debt of your life. Is that too much to ask for? Here’s a few tips on how to negotiate the best mortgage deal.
That’s right, we’re telling you not to sign your bank’s renewal letter, even though it’s so easy to do! Here are 5 reasons why you should force yourself to set fire to your mortgage renewal letter, or at the very least recycle it.
Similar to the extra warranty they try to sell you when you buy a laptop or refrigerator, mortgage life insurance is the ‘add-on’ product that helps to boost the lender’s profits. Here’s the background information that you need to make sure you don’t get taken for a ride.
Should you get a fixed mortgage rate or variable mortgage rate? Read on to learn about how these rates are different, and which one is the best fit for your mortgage needs.