When it comes to the world of home loans, mortgage brokers can be invaluable in helping potential homebuyers with their process. A mortgage broker is an intermediary who brings borrowers and lenders together. They help compare rates among different lenders and find the lowest mortgage rates as well as put them in contact with lenders…
Before meeting with a real estate agent to go house hunting, it’s a good idea to meet with a loan officer first to make sure you qualify for the type of mortgage you desire. Once you have an idea of what suits you best, learning the steps to getting a mortgage comes next. The best place…
When it comes to insurance, the four day rule is so simple, yet can cost you thousands of dollars in penalty if you don’t know about it. It is one of those fine print insurance clauses that you may not be aware of unless you are one of the few that reads their policy cover…
Below are some definitions of commonly used terms regarding real estate and mortgages. If you are planning on buying or selling a home in the Ottawa area or anywhere in Ontario for that matter, you should familiarize yourself with some of the terms. Contact me for any questions! The main information provided for these definitions…
You’ve cut back on Starbucks, taken a second job and borrowed money from mom and dad. Well done! You are ready to put down a wad of cash to cover the 20% down payment on your first property. But don’t make first-time homebuyer mistakes, like trusting your bank to look after you. In reality, the…
Like any big life decision or major purchase, buying your first home demands careful consideration, planning and preparation. However, not everyone has the patience and time to do the research. Some mistakes can and should be avoided especially if they end up costing home buyers a lot of money. Read on for a list of the most…
The price of a house is perhaps one of the most crucial factors in the home buying process, though it can be so easy to oversee its weight once the house hunt begins. $10,000 of cushion can become a $30,000 compromise in a small matter of time. You need to evaluate your budget and establish…
You are a lucky new homeowner! Congratulations! You have searched and finally found your dream home. You have secured your mortgage and gone through real estate brokers, home inspections, lawyers and shopped around for insurance. You’ve done your homework on closing costs and signed a ton of paperwork. This has been a busy and exciting…
According to many people, selling the house in the winter is a hassle. Some even say that it is the worst time of the year to sell a home. Given the severity of winter here in Ottawa, with snow storms and cold weather, it is definitely a challenge, but not for the determined ones! During…
Record Low Interest Rates, Record-High House Prices We now have mortgage trends that make it an ideal time to buy your dream home. We have reached ultra-low interest rates. It has never been easier or cheaper to pay off the interest rates on your mortgage. The five year fixed rate mortgage is tempting to first-time…
