When your mortgage term is about to expire, it’s best to start considering renewing your mortgage. But you may be wondering when the best time to renew is – sooner or later? There are always two sides to every coin; there are benefits and consequences to every choice.
As we say goodbye to 2013 and welcome in 2014, we can learn from this past year’s real estate market trends to predict expectations in the new year. According to the Canadian Real Estate Association, Canadian home sales turned out slightly better than expected in 2013 and sales will continue to increase in 2014.
Economic stresses can happen to the most careful individuals. You may think you are prepared by planning, budgeting and saving, but unexpected issues can arise for various reasons. Identifying areas where you are the most vulnerable and making contingency plans is one aspect of the solution, but sometimes these efforts are inadequate. You need to know what…
Beacon scores will definitely dictate the mortgage amount that lenders are going and willing to offer. This is also the determinant of what you are going to pay if your mortgage request goes through. It is therefore important to know the basics of beacon scores as this will come a long way in understanding how…
Owning your first home is a big step. You no longer have to worry about rent, you can set up your home as you like, mow your lawn, and you also get invited to home owners meetings. Owning a house can be quite challenging, it is necessary to carry out research and talk with experienced…
The process of purchasing a home and arranging for a mortgage can be almost overwhelming, especially to a first-time home buyer. When doing the research, it is important to get assistance to understand terms and conditions. Informed decisions about the terms and budgetary impact is a part of choosing the right financing package. Learn here…
Mortgage brokers are trained professionals in the field of financing for those who need loans. Even for borrowers with impeccable credit history and income levels, finding the best terms for a loan is not easy. The top brokers are noted for their ability to locate the best rates and other terms. They understand how to…
In hard economic times, you may be looking for ways to cut costs, but saving money is not the only reason why you should refinance your mortgage. You can use cash freed up to build a retirement account, do a remodeling project or send your child to college. You can take advantage of built up equity…
For those who are taking out a mortgage for the first time, knowledge of the effect of changing mortgage rates may be very limited. About one-third of first time borrowers expect the interest rate to remain the same over the next five years. Unfortunately, this expectation can result in loss of the home with even…
