Category: Mortgage

mortgage prepaid interest
Mortgage

How Mortgage Prepaid Interest on A Mortgage Works

When a mortgage refinancing or purchase process is completed, the agreed prepaid interest on the loan will be collected from the borrower and paid to the lender upon releasing the funding. Easy enough, right? Not exactly. The truth is, the

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Home Equity Loan

Equity Take-Out Mortgage Explained

Need some extra cash for a home improvement project or an unexpected expense? Using your home equity to get a loan might help! An equity take-out mortgage can be an effective solution for your short- and long-term financial goals. We’re

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knowing some mortgage renewal tips 2023
Mortgage

Mortgage Renewal Tips in Canada for 2023

A mortgage is one of the largest financial commitments Canadians make and it’s something that’s renewed regularly until the loan is paid off. With that in mind, having a good understanding of your mortgage options will ensure you’re getting one

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porting mortgage
Mortgage

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

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Second Mortgage Calculator
Home Equity Loan

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

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why do you need an appraisal to refinance
Mortgage

Appraisal for Refinancing | Key Insights Explained

In 2020, historic low mortgage interest rates led to a 13.3% increase in mortgage renewals, amounting to $20 million in loans in Canada. Despite this opportunity, many individuals missed out on favorable rates. This trend continues today. Refinancing is a

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Bad Credit Mortgage Ontario
Mortgage

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

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