Credit key when house hunting
Make sure your score is in order before you set out to find a new home
Winter can seem like an eternity. Yet when it comes to your credit profile, house-hunting and the spring real estate season is just around the corner."Warm weather will bring an increase in homes on the market and buyers shopping, so it pays to take steps to make sure your credit profile is ...
Why is the Self Employed Borrower fixated on Rate?
Let's face it, everyone wants the lowest rate possible for their mortgage. However, is the lowest rate always worthwhile? Let's take a look at an example:
Bob Smith is a Business owner in Vancouver. He has a modest business that is experiencing growth year after year. Bob enjoys the many perks of being a business owner, especially the ...
What exactly is a Vendor Take-Back (VTB)?
This is when a seller offers to lend the buyer funds in order to help facilitate the purchase of the property. The VTB is a legally binding agreement that will represent a secondary lien on the property. The term, rate, payments and fees are all negotiated by the Seller and the Buyer (with help from their real estate agents and lawyers of course). ...
As your Broker I am able to help you when the banks can’t
No more 'BANK' Competition!
I know the 'nonprime' solutions that are available, I am the true mortgage expert when the bank says no.
As your broker - I am creative!
I structure the deal with a true common sense approach. I know what it means to use a Vendor Take Back to save the deal, or perhaps an inter-alia mortgage when the LTV may ...
“Our first clue – the overnight lending rate in the U.S. would remain the same until 2014. The second clue was the most recent changes to mortgage rules here in Canada.”
BLAIR GABLE/REUTERS
On Tuesday, the Bank of Canada made no adjustment to the overnight rate. No increase and no decrease. ...
Tighter guidelines for qualifying:
Canada's mortgage insurance rules. Four measures were announced:
1. Amortizations reduced to 25 years
2. Refinancing limited to 80%
3. Properties purchased at over $1 million no longer eligible for mortgage insurance
4. GDS and TDS set at 39% and 44%
CAAMP believes that Canadians understand the importance of paying down their mortgages. These chan ...
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The outlook for global economic growth has weakened in recent weeks. Some of the risks around the European crisis are materializing and risks remain skewed to the downside. This is lea ...
Why smaller down payments can lead to better mortgage rates
By Garry Marr, Financial Post May 3, 2012 http://www.canada.com/business/fp/money/smaller+down+payments+lead+better+mortgage+rates/6550872/story.html
It doesn't make much sense, but a skimpy down payment on a home might actually get you a better mortgage rate in today's market.
Blame the government subsidy known as mortgage default i ...
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The profile for global economic growth has imp ...