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How Much Money Can You Get from A Reverse Mortgage?

Many Canadians believe they will be financially secure and carefree once they pay off their mortgage. Even as a homeowner, you may not have the cash needed for day-to-day expenses or to do the things you want. A reverse mortgage...

May 30, 2023

The Difference Between Reverse Mortgage and Home Equity Loan: Which is Better?

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The Difference Between Reverse Mortgage and Home Equity Loan: Which is Better?

As Canadians reach retirement age and beyond, they often wish to remain in a familiar setting that offers comfort and security – their homes. Unfortunately, increasing living costs and rising home maintenance expenses make this more difficult for many to...

May 30, 2023

Can a Bank Deny Mortgage Renewal Canada? Your Questions Answered

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Can a Bank Deny Mortgage Renewal Canada? Your Questions Answered

When mortgage terms end, most borrowers decide to renew them. But what if a bank denies your mortgage renewal? Don’t panic – there are viable alternatives for you that we’ll cover in this article. On December 7th, the Bank of...

May 30, 2023

A Definitive Guide to Porting a Mortgage in Canada

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A Definitive Guide to Porting a Mortgage in Canada

Moving from one home to another is an exciting time for any homeowner. Unfortunately, terminating your mortgage contract before its term ends can be a challenging financial burden to overcome. However, there are options that can help! For example, transferring...

May 30, 2023

Why Use a Mortgage Broker Instead of a Bank? A Complete Guide

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Why Use a Mortgage Broker Instead of a Bank? A Complete Guide

The Canadian housing market continues to be competitive and active for home buyers. The average home price is $713.542, up 17% from December. If you’re in the market to buy a house, you need to be organized and ready when...

February 25, 2022

Second Mortgage Calculator: How Much Can I Borrow?

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Second Mortgage Calculator: How Much Can I Borrow?

Second Mortgage Calculator: How much can I borrow? In 2008 the financial market faced a crisis, and the property market was also under the crash. The thing is, the housing market did survive and many people actually came out of 2008 wealthier because...

February 15, 2022

Why Do You Need an Appraisal to Refinance?

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Why Do You Need an Appraisal to Refinance?

In 2020, mortgage interest rates reached historic lows. In response, the total number of mortgage renewals grew to 13.3% during this time. While this pushed about $20 million in loans in Canada, many people didn’t take advantage of the interest...

February 3, 2022

Banks Who Will Approve A Bad Credit Mortgage in Ontario

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Banks Who Will Approve A Bad Credit Mortgage in Ontario

There are several mortgage lenders and banks who will approve a bad credit mortgage in Ontario. Bad credit is no stranger to many folks, and nearly 20% of Canadians have an “extreme” or “bad” credit score. This makes it difficult to get...

February 2, 2022

Second Mortgages: No Income Proof or Unemployed

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Second Mortgages: No Income Proof or Unemployed

Second mortgages with no income proof or unemployed are easier to obtain than you think. Have things been tight in terms of cash flow? Taking out a second mortgage may be the solution when attempting to alleviate financial stress. While...

January 5, 2022