When shopping for a mortgage, you may come across this term: collateral mortgage. Some people may tell you it is a good option, others will be of the opinion it is a great disadvantage. Just like every other option when it comes to mortgages, do...
Are you self-employed and planning to buy a property? Are you worried about the mortgage approval? Until recently, if you were self-employed you could definitely get a mortgage, but it was not an easy process due to the fact that income was variable and unpredictable....
Chances are you have heard these two terms time and again, especially if you are planning to invest in a property. Before we analyze each one of them, it is important to understand what they mean in the world of mortgages. Basically, equity refers to the...
It has become common to see home buyers getting a bridge loan in order to buy another home before they sell their existing one. At first glance, it seems like a great solution - and it can be -, but just like all other scenarios...
If you are new to Canada and are looking into settling in this country, you may want to consider purchasing a home. The first step you should take is informing yourself about the rules and conditions that apply to your situation. It may seem a...
When you are applying for a mortgage loan, one of the many things lenders look at and consider is your credit score. Your credit score is a measure of your financial health, and shows lenders their level of risk if they lend you money. So, what...
An assumable mortgage is a mortgage that may be transferred without changing the terms of the original mortgage. What does this mean? What does it involve? It is a financing agreement in which a seller transfers the terms, the interest rate and the remaining mortgage...
Are you looking into getting a mortgage and are not sure whether or not to get a closed or an open mortgage? That is very common. When choosing a mortgage, it is very important to be informed about all the options available. In this post,...
When applying for a new job, or when looking into starting a new career, people often get asked the reason why they would want to become part of a certain team. Many times, people are surprised by the fact that companies don’t want to hire...
Crazy high prices are no longer the only concern for people considering entering the real estate market or trading up for a bigger or better place. As of January 1st, all borrowers are now required to pass a stress test before they are allowed to...