Closed vs. Open Mortgage: Understanding The Differences

When you look up a mortgage website or get in touch with a mortgage lender, you may have heard the terms, ‘open,’ and ‘closed’ thrown around. If you’re new to mortgage processes, you may have difficulty understanding these terms. Therefore, in this article, we’ll discuss what an open and closed mortgage is, what the differences… Continue reading Closed vs. Open Mortgage: Understanding The Differences

What Credit Score Is Needed For A Mortgage In Canada?

If you are considering buying a house in the near future, your mind must already be buzzing with questions regarding the home buying process, budgeting, and even loan applications. After all, taking out a mortgage is a major financial responsibility that requires ample of preparation and deliberation by the borrower. Good credit is key to… Continue reading What Credit Score Is Needed For A Mortgage In Canada?

Fixed Vs. Variable Mortgage Interest Rates Explained

Buying a home is a dream for many people. Statistics reveal that only 45 percent of people between the ages of 18 to 34 are home owners in Canada. Most people are emotionally attached to home buying decision in life. So, people often make the mistake of buying a home quickly without thinking the decision… Continue reading Fixed Vs. Variable Mortgage Interest Rates Explained