Your Path To A Better Mortgage
What does a Mortgage Path really mean? Back in the day, a mortgage path was generally seen as the “path to pay it off”. That should be most if not all borrowers’ one goal when it comes to borrowing money on their home. To pay it off. If this is your plan, then you are […]
A Simple Guide To Self Directed Mortgages
For most Canadians, buying a home is the biggest investment they will ever make. And as such, they want to make sure they get the best mortgage deal possible. Self-directed mortgages are becoming increasingly popular as they offer more control over the terms of the loan. What is a Self-Directed Mortgage? A self-directed mortgage is […]
Appetite For Lending
Appetite for lending can differ from lender to lender. A lender’s appetite can explain why certain rates on mortgages offered can be higher. Additionally, certain lenders decline mortgage applications due to area and what they are looking for. Overall appetite is your home’s marketability – what will it sell for. Moreover, if house is located […]
4 Main Types Of Alt-A Lending
There are 4 main types of Alternative Lending. This is not the same as Alternative Mortgage Solutions or (AMS). The rates on this type of mortgage typically range 0.5% to 2.5% higher than your best mortgage rate on the market. As a result, your mortgage payment is typically higher per month. Lenders that offer Alternative […]
What is a Mortgage Bridge?
Mortgage bridge financing is a type of loan that provides short-term financing for real estate transactions. It is designed to help individuals or businesses that need to purchase a new property before they have sold their existing property. In such cases, the funds from the sale of the current property may not be available in […]
Ideas To Finance Your Farm
Most times when a borrower is a farmer, they have gone through all avenues to obtain financing on their farm. If you have not tried Farm Credit Canada yet, please do. Farm Credit Canada is a company that specializes in business and financial services, and products for farming operations, including family farms, and to those […]
What Does Loan To Value Mean?
In the Brokering industry, brokers and agents use the term LTV. This is a short form of Loan to Value. Below we show you a simple example of how the loan to value can be calculated with a $100,000.00 Mortgage. Your Down Payment is the difference. What that means – if your purchase price is […]
Foreign Income And Your Mortgage
We have a post on what income is needed on your mortgage, but what if that income is not claimed at all in Canada? This is what we will go over in this post. We hope to explain how to purchase a home in Canada when you work outside of Canada and simply do not […]
What Is Alternative Lending? Alt-A Lending.
Alt-A Lending is what we call it in the industry. It’s also a Borrower Type as an Alt-A Lender will naturally lend to an Alt-A Borrower. There are usually Mortgage Fees associated with this type of lending. Alt-A closing costs will show you what it looks like to close with this type of lending. Triple-A lenders […]
Mortgages And Your Bankruptcy, Proposal or Bad Debt.
What does it take to get a mortgage once you have claimed bankruptcy (BK), performed a proposal, or simply have bad debts on your bureau? Let’s quickly review all 3 scenarios Bankruptcy Most Triple-A Lenders and mortgages requiring Default Insurance require 2 years of discharged, 2 years of re-established credit and a 2 thousand-dollar minimum […]
