In the competitive world of mortgage lending, one important tool that borrowers in Canada can utilize is the mortgage rate hold. A rate hold allows borrowers to secure a specific interest rate for a set period, typically ranging from 30 to 120 days, while they shop for a home or finalize their mortgage application. This […]
If you’re seeking a mortgage, but your application doesn’t fit into the box of the big traditional institutions, you’ll find yourself in what’s commonly referred to in the industry as the “Alternative-A” or “B” lending space. These lenders come in three classifications: Managing mortgage affordability in the alternative lending landscape requires careful consideration of several […]
In the realm of homeownership, the journey towards securing your dream home involves a myriad of decisions and considerations. One crucial aspect that often gets overlooked is protecting your investment and loved ones in the event of unforeseen circumstances. This is where Mortgage Protection Insurance (MPP) steps in as a valuable safeguard, providing peace of […]
In the realm of financial tools for homeowners, a Home Equity Line of Credit (HELOC) stands out as a versatile and valuable resource. Understanding HELOCs empowers homeowners to make informed decisions about their finances. Benefits of HELOC Considerations Before Getting a HELOC A HELOC can be a valuable financial tool for homeowners, offering flexibility, lower […]
Purchasing a home in Canada can be both exciting and overwhelming! Navigating through the labyrinth of mortgage terminology can often feel like deciphering a foreign language. However, fear not! In this guide, we’ll demystify some of the most important mortgage terms and help empowering every homebuyer with the knowledge they need to make informed decisions. […]
The Bank of Canada Cautious, but a Rate Cut in June is Possible Today, the Bank of Canada held the overnight rate at 5% for the sixth consecutive meeting and pledged to continue normalizing its balance sheet. Governor Macklem confirmed that inflation is moving in the right direction, labour markets are easing, and wage pressures […]
With the continued rise of inflation, interest rates and the overall cost of living, the uncertainty can be unnerving for many individuals. But don’t fret! We have some tips and suggestions to help you manage your financial stress and help you to power through these latest economic changes: Regardless of where you find yourself financially, […]
Curious about the CHIP Reverse Mortgage by HomeEquity Bank? If you’re a Canadian aged 55 or older, this financial solution could hold the key to tapping into your largest asset, your home. It’s a unique opportunity that allows you to use your home equity for various purposes, from paying off debts to funding home renovations […]
One of the important factors in home ownership is understanding things like your credit score. Some people don’t pay much attention to this metric until they begin the mortgage discussion! However, you will find that your credit score is one of the most important factors when it comes to qualifying for a mortgage at the […]
A mortgage broker is a financial professional who helps borrowers find the best mortgage deals available in the market. They act as intermediaries between borrowers and lenders, helping you navigate the complex world of mortgages. With access to a wide range of lenders and loan options, brokers can save you time and effort by doing […]
100% recommend Charlene for mortgage broker needs. Melany, Charlene’s assistant was extremely responsive and honest when it came to the finances we needed for our dream home! The process to getting approved wasn’t as gruelling as some make it seem thanks to Melany & Charlene!
