Uncategorized 08 Dec 2023 Everything you need to know about Mortgage Payment Frequency While monthly mortgage payments are the standard for many homeowners, choosing a different mortgage payment frequency can help pay off your mortgage sooner, or at the very least, make it easier to manage your household… CMSpeople
Uncategorized 24 Nov 2023 What’s the Difference Between a Guarantor and Co-signer? To better understand the differences, we should first understand how a Guarantor and Co-signer are the same. A guarantor and co-signer are both used to help obtain mortgage financing on a property - whether it… CMSpeople
Uncategorized 06 Nov 2023 Why Do I Need a Mortgage Pre-Approval? At face value, it might seem self-explanatory, yet we often get asked: What is a mortgage pre-approval, and why do I need one? People are right to ask though and that’s because there is some… nkad3
Uncategorized 06 Oct 2023 The Second Mortgage Process Urgent second mortgages are a very common request, especially in markets with growing home appreciation and increasing household debt. And 2023 is no exception to this as more home buyer's are starting to feel the… nkad3
Uncategorized 22 Sep 2023 B Lender Mortgage in Canada: Pros and Cons Let’s first understand the difference between different classes of mortgages in Canada: As mortgage professionals, we refer to the 3 major tiers of lending as: A-lender mortgage (or ‘A’ bank mortgage), B-lender mortgage (or Alternative… nkad3
Uncategorized 26 Aug 2023 New Cap on Home Equity Lines of Credit in Canada – October 31, 2023 Today, clients with a revolving portion of their mortgage (or collateral mortgage as it’s often referred to) can use or reuse up to 80% loan-to-value as the mortgage is paid down. This is inclusive of both mortgage… CMSpeople
Uncategorized 25 May 2023 The New First Home Savings Account (FHSA) – What is it? Recently the government of Canada announces the launch of a First Home savings account which is geared towards first-time home buyers and designed to help them save for their down payments. The best way to… CMSpeople
Uncategorized 25 May 2023 I’m Behind on My Mortgage Payment – What Should I Do? Although have the best of intentions, sometimes we find ourselves in financial constraints that cause us to fall behind. Most homeowners will tend to make the difficult choice of having non-payments on their other debts… CMSpeople