Well, that was quite a year! Unfortunately, not for the better when it comes to interest rates and housing prices. Like all change, it’s not always welcome or for the better however we need to identify both threats to mitigate and opportunities to take advantage of. As your Hamilton Mortgage Broker, I am constantly looking […]
This might seem like part of a Dr. Suess rhyme but it is actually a legitimate and very pertinent question especially for first time home buyers. Read on to learn more about how a renter can help a renter be a home owner! As a Grimsby mortgage broker, I see and feel the pain of […]
Given that your home purchase and the subsequent mortgage used to finance the purchase are often the largest investment a person will make in their lifetime, people usually only focus on the interest rate and the term. As your St Thomas mortgage broker, obtaining a low interest rate for our clients is always an important […]
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 […]
How much of a down payment do we need to purchase a home? I am frequently asked this question as a Grimsby Mortgage Broker, often by people who have pre-conceived notions either from the internet, friends and family, or late-night real estate shows. Typically, you require a minimum 5% down payment, however, due to changes […]
Is it better to get a fixed or variable interest rate on your mortgage right now? With a quickly changing housing market and rapidly increasing interest rates, as a Hamilton Mortgage Broker we receive calls from our clients that are more torn than ever about whether to go with a Variable Rate or Fixed Rate […]
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 […]
As a St Thomas mortgage broker, we often get asked “when is the best time to refinance my mortgage?” Like many questions, there is not always an easy answer. The answer will depend on many factors that are unique to your situation. Are you up for renewal? Everything being equal the best time to refinance […]
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 […]
With real estate prices at historic highs and affordability seemingly farther away than ever before, many people are tempted to enter into a Rent to Own agreement. They promise to provide the allure of having a portion of your rent going towards your down payment and locking in a purchase price and at the same […]