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How to Get Pre-Approved for a Mortgage in Ontario
Before you start scrolling through listings or booking showings, there’s one critical step every serious homebuyer should take: getting pre-approved for a mortgage. A mortgage pre-approval in Ontario tells you exactly how much you can borrow, locks in your interest rate while you shop, and shows sellers you’re a qualified buyer — a major advantage…
Read MoreMortgage Renewal in Ontario: 5 Tips to Get the Best Rate
Your mortgage term is coming to an end — and with it, a letter from your bank offering you a “special” renewal rate. Before you sign on the dotted line, stop. That first offer is almost never the best rate available. In fact, most Ontario homeowners who simply sign their bank’s renewal offer leave thousands…
Read MoreFirst-Time Home Buyer Guide: How to Get a Mortgage in Pickering, ON
Buying your first home is one of the most exciting milestones in life — and if you’re a first time home buyer in Pickering, Ontario, it pays to understand exactly how the process works before you start touring houses. From minimum down payment rules and the Home Buyers’ Plan to land transfer tax rebates and…
Read MoreA Guide to Obtaining a Commercial Mortgage
The terms and conditions of a commercial mortgage may vary depending on the lender. However, most commercial mortgages have a payback term of five years or less. These mortgages are typically used to finance the purchase of retail space, office buildings, warehouses and several other types of commercial real estate. Commercial mortgages are also more…
Read MoreHome equity line of credit (HELOC) rates for September 2022
HELOCs, or Home Equity Line of Credit, are loans that enable you to borrow funds against your home’s equity- the present market value of your home minus your remaining mortgage balance. When you secure a HELOC, you can withdraw the funds available in instalments as you need them, and pay interest only on what you’re…
Read MoreBuying Your First Home Is Easy With ABC Mortgages
It is an exciting time being a first-time homebuyer, but at the same time, it can also be nerve-racking because of the information and options available to choose from. It is imperative to do your due diligence before choosing what kind of house you wish to purchase so that you are getting the best deal…
Read MoreA Guide To First-Time Home Buyer Programs
When you decide to buy your first home, it can be stressful and exciting at the same time. With recent changes to Canadian lending regulations, including an increase in interest rates, it has become even more daunting to obtain a first-time home buyer mortgage in Scarborough. You will need to save enough funds for a…
Read MoreRefinancing Your Mortgage – How Does It Work?
There are a number of reasons why you would want to refinance your mortgage. It could be to leverage the equity you’ve built up in your home, to lock in a lower rate or to shorten the term of your loan. All of these are great reasons to take a little time to understand the…
Read MoreWhat is a Mortgage Refinance, and How Does Refinancing Work?
If you have multiple loans and are finding it difficult to repay or simply challenging to manage them, then refinancing can offer you the much needed relief. Refinancing can help you replace your existing mortgages with a single loan. Refinancing mortgages can help you reduce monthly payments, it can lower your interest rate and can also be used…
Read MoreWhy you should hire a mortgage broker to get a home equity line of credit in Toronto
A home equity line of credit or HELOC is a loan where the collateral is your equity in the house. Your home is one of your most valuable assets, it can be used when you are in need of immediate cash. This loan can be ideal to pay for expenses such as the education of your children, medical expenses and other home repairs and…
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