Managing your down payment is not often something people think about when looking to buy a home. Of course, there are lots of things to consider when preparing to purchase a home, and the down payment is an important one. Often as mortgage professionals, we speak in general terms without getting into fine details. These […]
If your mortgage is coming up for renewal and you are experiencing a bit of “rate shock,” you are not alone! If you currently have a fixed-rate mortgage, your interest rate will most likely be going up, and likely substantially, depending on your term. If you currently have a variable-rate mortgage, your interest rate has […]
What is the trigger rate? If you currently have a variable rate mortgage you may have had the unpleasant experience of hearing the term “trigger rate” by your current mortgage lender, or you may have heard it in the news. Don’t feel bad for not being familiar with the term as historically it has rarely […]
Current homeowners looking at selling their existing home and purchasing another can have specific needs that first-time homebuyers don’t have to be concerned with. What happens when the closing date for the purchase of your new home lands BEFORE the closing date of your current home? How can you make the downpayment for the new […]
If you were fortunate enough to lock in your mortgage into a fixed-term mortgage within the last year or two, you will most likely have a historically low interest rate. But what if, like many others, you now find yourself in a situation where you need additional funds? This may be for such things as […]
What a change a few months can make! With two years of record-low rates and a blistering hot real estate market, many thought the low rates and rising prices, would go on forever. The low rates were welcomed by all, with 5yr fixed rates under 2%. The rising prices were welcomed by current homeowners and […]
As a Grimsby mortgage broker, I deal with many customers looking to take out a second mortgage. A second mortgage has benefits if done for the right reasons and knowing whether it is a good choice for your situation is something our Grimsby mortgage broker team can help you with. We’ll go over everything that […]
A question I often am asked, as a Grimsby mortgage broker is whether it pays to have a private mortgage or not. There are some instances where it can be beneficial to a home buyer, especially if they are having a hard time qualifying for a traditional mortgage. What is a Private Mortgage? This is […]
TIf you’ve been sitting on the fence regarding buying a home, speaking with a Burlington mortgage broker can help you take that leap into home ownership. You may have done all of your research, listed the pros and cons, calculated your costs and budget, and feel ready to go. You’ll be happy to know that […]
Part of managing your finances is building good credit. Having good credit opens the door to being able to get loans, credit cards and ultimately a mortgage. However, we may get into situations that cause our credit to go from good to bad. This Hamilton mortgage broker shared that anyone can change their credit from […]