Category: Home Buyers

High Ratio Mortgages and Mortgage Default Insurance

High Ratio Mortgages and Mortgage Default Insurance

A high ratio mortgage is where the borrower’s down payment is less than 20% of the property’s purchase price. In Canada, such mortgages require insurance because they are considered higher risk and necessitate “default insurance” coverage.

Understanding Interest Adjustments When Closing on a Home

Understanding Interest Adjustments When Closing on a Home

When it comes to closing on a home, first-time buyers often encounter a seemingly unexpected expense known as an “Interest Adjustment.” This question comes up a lot and it’s essential to demystify this aspect of the home-buying process.

Approved! Time To Tackle Mortgage Conditions

Approved! Time To Tackle Mortgage Conditions

You just heard those reassuring words “You are approved!” but this isn’t the end of the journey. You and your mortgage agent must stay focused and ensure all the lender’s mortgage conditions are met well in advance of your closing date.

Everything You Need To Know About Property Taxes

Everything You Need To Know About Property Taxes

Property taxes are a significant financial obligation for homeowners. These taxes fund essential services like schools, infrastructure, and public safety, making them a crucial part of local communities, so how do they work? and how do homeowners pay them?

4-ways-to-buy-a-home-with-no-down-payment

4 Ways To Buy A Home With No Down Payment

Owning a house is a significant milestone but requires a substantial financial commitment! One of the essential requirements when buying a home is having a down payment towards the purchase price.

High Ratio Mortgages and Mortgage Default Insurance

High Ratio Mortgages and Mortgage Default Insurance

A high ratio mortgage is where the borrower’s down payment is less than 20% of the property’s purchase price. In Canada, such mortgages require insurance because they are considered higher risk and necessitate “default insurance” coverage.

READ MORE
Approved! Time To Tackle Mortgage Conditions

Approved! Time To Tackle Mortgage Conditions

You just heard those reassuring words “You are approved!” but this isn’t the end of the journey. You and your mortgage agent must stay focused and ensure all the lender’s mortgage conditions are met well in advance of your closing date.

READ MORE
Everything You Need To Know About Property Taxes

Everything You Need To Know About Property Taxes

Property taxes are a significant financial obligation for homeowners. These taxes fund essential services like schools, infrastructure, and public safety, making them a crucial part of local communities, so how do they work? and how do homeowners pay them?

READ MORE

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