mortgage approved

Mortgage Approval Process

Before your start house hunting, it’s a good idea to know your housing budget beforehand. The last thing you want to do is to find your dream home, only to discover that it’s way outside your budget. Not only can a mortgage pre-approval help you avoi...
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mortgage broker vs. banks

Mortgage Broker vs Bank

When it comes to securing a mortgage, homeowners have more options than ever before. Your local bank branch can be a good starting point for your mortgage search, but it shouldn’t be your own stop. Buying your house is a very busy time – you most lik...
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Mortgage calculation

Mortgage Calculators

For most homeowners a mortgage represents the largest debt of their lifetime. That’s why it crucial to do your homework and ensure your mortgage fits within your budget. There are many helpful calculators out there that can help you figure out everyt...
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Mortgage calculator

Calculating Closing Costs in your mortgage

In between house hunting, getting pre-approved for a mortgage and saving up towards your down payment, it’s easy to forget about your closing costs. Closing costs are not just a drop a drop in the bucket, they represent a major cash expenditure – the...
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Mortgage co-signer

Mortgage Co-signer

Although mortgage lenders prefer homebuyers with pristine credit ratings, you can still get a mortgage if your credit rating is less than perfect. A mortgage is very large sum of money, so lenders want to ensure you’ll be able to pay it back before a...
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Mortgage insurance

Mortgage Default Insurance

For homeowners making a down payment of less than 20 per cent, your mortgage is considered high ratio, so you’ll need to purchase mortgage default insurance. Mortgage default insurance is required if you’re making a down payment of 5 per cent to 19.9...
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Mortgage documents

Mortgage Documents

A mortgage is a very large sum of money – not only does it represent a significant loan for lenders, it’s typically represents the largest debt on a family’s balance sheet. It should come as no surprise that mortgage lenders want to do their due dili...
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paying the mortgage

Mortgage Down Payment

Not to be confused with your deposit, your down payment plays a crucial role in your journey towards home ownership. Your down payment is the amount of savings you’ve set aside to pay directly towards the purchase price of your house. It directly inf...
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Mortgage FAQ

Mortgage FAQ

Even if you’re just a first-time homebuyer, chances are you’ve heard of a mortgage, but do you truly understand what it is? Let’s run down the basics of residential mortgages, including some of the most common questions homebuyers have, so you’ll be...
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breaking a mortgage loan

Mortgage Penalties - breaking a mortgage

When you sign up for a mortgage, chances are the idea of breaking it before your term is up is the furthest thing from your mind. Although you’re probably most concerned about your mortgage rate, it’s important to ask about mortgage penalties when si...
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Mortgage pre-approval

Mortgage Pre-Approval

It’s difficult to go house hunting if you don’t know how much the bank will lend you. Being pre-approved for a mortgage means you’re one step closer to homeownership. There are many advantages to being pre-approved. Let’s run through the pre-approval...
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Mortgage tips

Mortgage Tips

Your mortgage doesn’t have to be a life sentence. Just because your mortgage has an amortization period of 25 years, doesn’t mean you can’t pay it off sooner. Here are our best tips to pay down your mortgage faster so you can start enjoying mortgage...
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Mortgage broker questions

Questions to ask your Mortgage Broker

You’ve made the wise decision to search for the ideal mortgage product with the assistance of a mortgage broker. Your next step is finding a mortgage worker who you feel comfortable with and will work hard to get you the lowest mortgage rate. Similar...
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mortgage renewal

Tips for renewing your Mortgage

Unless you win the lottery, chances are you’ll have to renew your mortgage at least once during your lifetime. Let’s face it, everyone is busy – when you receive your mortgage renewal letter in the mail, the easiest thing to do is to sign on the dott...
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Bridge Financing

Bridge Financing

Believe it or not, but being a first-time homebuyer actually has some perks. As a first-time homebuyer you don’t have to deal with the pressure of selling your existing home and buying a new property. Buying and selling at the same time can be stress...
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Mortgage Payment Calculator

Mortgage Payment Calculator

Use this calculator to test different scenarios and determine your ideal monthly payments. Our innovative chart shows you exactly what your monthly payment will be and how much you contribute each year to Principal, Interest and Total Balance du...
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How much can I afford?

Mortgage Affordability Calculator

The affordability calculator can help you decide how much mortgage you can afford to borrow and ultimately re-pay. Affordability is based on your (household) income, the monthly expenses you have (car, credit cards, etc) and other costs associated wi...
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How to decide between renting & buying

Buy vs. Rent Calculator

A lot of Canadians are asking themselves if it's a good time to buy a property. This calculator can be helpful to determine if buying a home is the right decision and investment for your family. For most people buying makes sense, but that logic does...
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