HIGH RATIO MORTGAGE INSURANCE PREMIUMS
A high ratio mortgage, as opposed to a conventional mortgage, is one in which the Loan to Value Ratio (LTV) is greater than 80%. When a down payment of less than 20% is made on a mortgage, insurance will be required. The following is a breakdown of the applicable insurance premiums depending on the loan […]
MORTAGE RENEWALS & TRANSFER
Statistically speaking, the majority of Canadians renew their mortgage today with their existing Bank at significantly more than the fully discounted rate available to them in the market place. This ultimately ends up costing the consumer thousands of dollars more unnecessarily, and lengthens the average time it would otherwise take to be mortgage free. At […]
MORTGAGE REFINANCING IN TORONTO & GTA
Although many home owners hesitate when considering the possibility of taking on more debt against their home in the form of a mortgage, ultimately it may make sense for them to do so for several different reasons. With the high rate of unsecured debt growing at approximately 30% per annum in Canada, and disposable income […]
REPEAT HOME BUYERS
As a repeat buyer, you know that a quality mortgage professional is a must-have during the home buying process. Repeat home buyers should take the time to ensure that they are getting the best possible deal, regardless of the fact that they have a mortgage with an existing lender. Lenders typically use this as a […]
FIRST TIME HOME BUYERS IN GTA
First-time home buyers represent the largest group of purchasers in today’s real estate market. Recognizing this, Lenders and Insurers have developed progressive ways to allow for many Canadians to purchase their first home, which would otherwise not have been possible under traditional programs. The most common program utilized today by First-Time Buyers is the 95% […]
MORTGAGE PRE-APPROVAL
A mortgage pre-approval is a process that provides you with important information to help you with your home search. When you get pre-approved for a mortgage, you’ll find out: The maximum amount you can afford to spend on a home The monthly mortgage payment associated with your maximum purchase price What your mortgage rate will […]