Why You Should Start Considering Consolidating Your Debt
It’s no surprise debt is quite commons amongst everyday Canadians. In fact, you are currently most likely borrowing from a few different lenders. Think about it. Do you have a credit card, a car loan or a bank loan or all of these? Then you are within this group of Canadians. If this is the case, one thing you should be well aware of is the varying interest rates between the different lenders and type of debts. Don’t get despaired with your financial situation, debt consolidation can help, but, first you must understand what it is. By borrowing money from a low-interest lender in order to pay off high-interest debts, you are consolidating your debts. Doing so will help you get rid of higher interest debts by combining them into one, lower-interest loan that’s easier to keep track of. I bet you’re asking yourself why you should consolidate your debt? Well, here’s why.
Understanding Pre-Approvals – A Home Buyers Guide
Any good mortgage professional will tell you that your house hunt shouldn’t start with a call to your realtor; it should start with a call to a mortgage professional who will work with you in order to obtain a mortgage pre-approval. After all, how can you shop for property when you don’t know how much money you have to spend or, more importantly, how much a lender will loan you for your mortgage?
Can’t Qualify for a Bank Mortgage? How Private Mortgages Work
There is almost ALWAYS a mortgage solution. New to Canada? Self Employed? Maybe a few credit glitches in your past? You just need to ask the right mortgage consultant. Not everyone can qualify for bank mortgages today. It doesn’t make you a bad person, it makes you a business savvy person getting the best mortgage for your situation! With the mortgage rules constantly changing, private or alternative mortgages are becoming the only way some people can refinance or buy.
Buying House/Property in Canada for Non-Residents
We help a lot of non-residents buy property in the Greater Toronto Area, and there are some questions that come up repeatedly. Below, you’ll find answers to the most frequently asked questions.
A Home Buyer’s Checklist
As an experienced mortgage brokerage, we want to help you make smart decisions when it comes to buying your first home or vacation home. We understand that your decision to purchase is probably one of the biggest buys you’ll ever make, so it’s important to us to help you think ahead. Here are some tips that will help you make informed buying decisions.
How to Choose and Work with a Mortgage Broker
The majority of homebuyers get their loans through a mortgage broker—a professional who’s in the business of compiling and filtering through the options for you. A mortgage broker acts as your agent to “shop lenders” for the best possible loan terms, given your financial situation and goals. Many provinces require mortgage brokerages to be licensed, and individual mortgage brokers are sometimes certified too.
Real Estate Investments: Buying Property Under a Corporation Name
Are you looking to generate more income? Buying property can help you to achieve this goal. One of the greatest benefits to real estate investments is that they help you to increase your income, not to mention that the actual property value can increase over time.
In the Forecast: Are You Prepared for High Variable Mortgage Rates?
A word of warning about variable-rate mortgages, since you probably don’t want to regret your decision. For instance, you wouldn’t want to invest in a property with an ocean view that’s right in the middle of a know hurricane zone, right? We want you to be prepared for the high-variable mortgage rates that may come in the very near future. Although we aren’t too sure when the interest-rate market in Canada will be affected, we do know that you can expect to see an increase of at least 1 or 2 points on prime rates, whenever the storm hits. In order to help you prepare for this unknow hike we’ve created a plan just for you.
A Comparison: Mortgage Broker or Bank?
It might seem like a hard decision to choose between a mortgage broker or a bank, especially if you are looking for the best mortgage rates and best deal. Understanding the differences, advantages and disadvantages of both options will help to make your decision easy.
Renew Your Mortgage Seamlessly with These 5 Tips
Mortgage payments are the most single largest expense for Canadian homeowners. Yet, nearly 27% opt for automatic renewal at the end of their term, even though most fail to seek out a better deal. Looking for a better renewal deal can lower your payments. Here are 5 tips that can make the renewal process seamless.