Category: Home Loan
How is Mortgage Interest Calculated?
Are you trying to get a mortgage from a lender? Two of the top things you may be considering include the cost of the loan and the amount you can borrow. Before applying for the mortgage, you will see that the lender has advertised a specific interest rate. For instance, the lender may state that… Continue reading How is Mortgage Interest Calculated?
Using Home Equity to Buy Another Home in Canada: Is It Legal?
Is using home equity to buy another home in Canada Legal? The answer is yes – Home equity is one of the most convenient ways to invest in another home purchase. So, you don’t have to worry about anything if you’ve accumulated enough equity in your home. In this guide, we’ll show you how to… Continue reading Using Home Equity to Buy Another Home in Canada: Is It Legal?
Your Ultimate Guide to Home Improvement Financing
Whether you’re looking to sell your property in the future, or simply want to make improvements to live more comfortably, you need to consider your financial decisions properly. It is only through smart renovations that you’ll not only improve the value and utility of your property but also boost its resale value. Most Canadians typically… Continue reading Your Ultimate Guide to Home Improvement Financing
When To Refinance A Mortgage: What You Should Know
Given how quickly mortgage rates are falling, one can easily assume that homeowners should refinance their loans, correct? While that is an option to consider, it’s not always the best move. To be honest, refinancing should only be considered when the time is right. In this article, we’re going to talk about when to refinance… Continue reading When To Refinance A Mortgage: What You Should Know
How Does A Reverse Mortgage Work When You Die?
What exactly is a reverse mortgage? How does a reverse mortgage work when you die? Read on to find out the answer to these and many more questions. So what is a reverse mortgage? It is sometimes billed as the last mortgage you will ever need. A reverse mortgage is a type of loan, one… Continue reading How Does A Reverse Mortgage Work When You Die?
Taking Out A Second Mortgage To Pay Off Debt: Is It A Good Idea?
If you owe a significant amount of high-interest debt, one way to pay off that debt quickly is to take out a second mortgage on your home. Using a second mortgage to pay off debt can be a good idea if you’re facing high-interest credit card debt. But when is taking out a second mortgage… Continue reading Taking Out A Second Mortgage To Pay Off Debt: Is It A Good Idea?
How To Borrow For A Down Payment In Canada
For potential homeowners, coming up with a sizable down payment is probably the hardest part of purchasing a home. A down payment is a necessary aspect of securing a mortgage. It is a way for creditors to reduce the risk of lending you money. Gone were the days when Canadians were able to purchase homes… Continue reading How To Borrow For A Down Payment In Canada