Tag: refinance
Don't be Afraid to Talk to a Mortgage Broker
By: Elias KellendonkHalloween aside, this October has plenty of reasons to get you spooked, what with a recession, a long and tiring election campaign, and recent world events. Plenty of reasons, but your mortgage need not be one of them. We’re here to help in this frightful time, no matter if you’re buying a home, renewing your …
Refinance and Consolidate Your Mortgage
By: The Super BrokerDebt consolidation or a Mortgage Refinance can cost effectively remove debt, and can make the financing of your future projects that much easier.
Flaherty Tightens Canadian Mortgage Rules.
By: Elias KellendonkCome July 9th, the CMHC will no longer insure mortgages with amortizations longer than 25 years, and will further limit the amount a homeowner can refinance their mortgage to 80%, down from 85%.
The Blended Mortgage: A Way to Access Equity without Penalty
By: Elias Kellendonk“Mortgage penalty can be a shocker,” stated Ellen Roseman in her blog, On Your Side. She reminds readers that the interest rate differential (IRD) prepayment penalty charged by lenders to borrowers who break their terms early can amount to thousands of dollars. One broker commented that this penalty amounted to $28,000 for his client whose …
Canadians Negotiate Lower Mortgage Rates
By: Elias KellendonkA growing number of Canadians are negotiating lower than advertised rates.
Big Bank Launches Collateral Mortgage to Spur Market; Takers Will Be Bound
By: Elias KellendonkWhat is TD’s strategy to stay afloat in a competitive mortgage market which has seen the Canadian home buyer’s business increasingly shifted towards mortgage brokers?
CMHC Allows Commercial Financing up to 85 per cent
By: Elias KellendonkWith the Canada Mortgage and Housing Corporation’s multi-unit insurance coverage, a commercial investor can attain up to 85 per cent financing toward their commercial purchase.
Private Commercial Lenders Provide Alternate Route for Commercial Funding
By: Elias KellendonkPrivate commercial lenders, particularly in the commercial mortgage market, are increasingly becoming the go-to for hard-to-fund commercial projects.
Is the security afforded by a long-term mortgage worth the added cost?
By: Elias Kellendonk12 per cent of Canadian mortgage holders opt to lock in to terms longer than five years; is the stability worth the added cost?
Canadian Home Renovation Statistics
By: The Super Broker50 per cent of (or 2.1 million) Canadian households renovated their homes in 2009, and just over 40 per cent intend to this year.