Mortgages, Work Permits & Permanent Residence
Many people move to Canada with the the hopes of becoming a permanent resident or gaining employment. However, for many new immigrants, once you get here and get to know the beauty throughout Canada you decide to stay and make Canada your home. If you do then buying your own home may be the next […]
Reverse Mortgages: The Pros & Cons
If you’re a retiree, then a reverse mortgage can serve a valuable retirement planning tool. You can increase your income during retirement greatly by making use of your greatest asset, your home. Continue to maintain your home ownership while borrowing against your homes equity. Unlike traditional mortgages, reverse mortgages don’t require payments. Basically, your lender […]
Grants for First Time Homebuyers
The great news for first-time buyers is that the government has various grants that you can take advantage of, making your home purchase more affordable. If you’re buying a home for the first time, here are some of the grants you have available:
Challenges Securing “Mixed Use” Mortgage Financing
One of the biggest challenges many buyers face within the mortgage industry in securing “Mixed Use” mortgage financing. This process can take a tremendous amount of time, especially when it’s required for: Construction loans, Mortgage refinancing and Property acquisition. First, before we get too deep here, you need to understand what mixed use property is. To put […]
25-Year vs. 30-Year Amortization Mortgages
When it comes to make important shopping decisions for your mortgage, you have 3 important factors to consider, the amortization period, interest rate and the term. They are equally important in your final decision. However, when deciding what amortization period is best for you, you need to understand the difference between 25-year and 30-year amortization […]
New to Canada? Mortgage for Non-Residents
Welcome to Canada! Entering and settling in a new country can definitely be a big adjustment. If you’re planning to make Canada your home, then you’ve probably already started to think about buying a new home. First, you should know what it will take to secure a mortgage in Canada. As a new arrival here, […]
How to Get a Private Mortgage When You Don’t Qualify for a Bank Mortgage
Whether you’re new to canada or self-employed there is always a mortgage solution for you. Even if you’ve had past credit problems, you can still qualify for a mortgage. You just need to speak to a mortgage specialist. Sometimes banks aren’t always the easiest route, especially with all of the new mortgage rules in 2017. […]
How to Fund a Franchise Business in Canada
Before you decide to open a franchise you need to do your research and review all of the statistics. Once you’ve done this, the next thing you should ask yourself is how you will finance your business venture. You will need to pay inventories, salaries and working capital, so you’ll need to know where this […]
Land Mortgages: Land Title Loans, Land Loans and Rural Property Loans
Not all financial transactions are created equally. For instance, three major types can be tricky if you’re dealing with a financial institution: Land title loan, Land loan or mortgage, Rural property loan or mortgage. The reason why any of these three transactions can be a bit tricky is because of the high risk that is […]
The Difference between a Co-signer or Guarantor for a Mortgage
If you are a borrower who is perhaps self-employed, have questionable income stability or employment history or mediocre credit, it’s likely that your lender will need a guarantor or cosigner for your mortgage. In their eyes, this will ensure them that someone will held responsible if you’re unable to make your mortgage payments. You may […]