Mortgage Blog
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Category: Mortgages 101 (11 posts)
Mortgages 101
January 1, 2015 | Posted by: Calum Ross
A mortgage is a loan that uses a property as security to ensure that the debt is repaid. The borrower is referred to as the mortgagor, the lender as the mortgagee. The actual loan amount is referre ...
read moreTypes of Mortgages
January 1, 2015 | Posted by: Calum Ross
While a mortgage is fundamentally a loan that is secured against your home, there are many variations to the type of mortgage that can be used for various needs. Based on your goals and risk character ...
read moreMortgage Features
January 1, 2015 | Posted by: Calum Ross
Choosing A Term You Can Live With What term should you take? That’s a good question. Before you look at the issue of term specifically, there are things you should consider: When you’re l ...
read moreThe Mortgage Players
January 1, 2015 | Posted by: Calum Ross
Mortgage Advisor Since the early 1990s, the use of mortgage brokers – technically independent mortgage agents/advisors who work for a registered Mortgage Broker, has gained great popularity as ...
read moreMortgage-Free Faster: Accelerated Mortgage Payment and Calculators
January 1, 2015 | Posted by: Calum Ross
Monthly, bi-weekly, or weekly payments? Once you have the mortgage amount, rate, and amortization period, your monthly payment can be calculated. Now is the time to decide how often you want to make ...
read moreRefinancing a Mortgage in Canada
January 1, 2015 | Posted by: Calum Ross
Refinancing is the process that pays the existing mortgage and/or any other legal claims against the property and sets up a completely new mortgage(s). There are many reasons why you should consider r ...
read moreSwitching / Renewing
January 1, 2015 | Posted by: Calum Ross
When the mortgage is about to mature, most lenders will mail out their renewal agreements around 30 days before the mortgage matures. Often, this causes a lot of grief for many people, especially if r ...
read moreBuying Your Home With Less Than 20% Down
January 1, 2015 | Posted by: Calum Ross
Home Buyers can also purchase their home with as little as 5% down. The 5% down program was initially set-up for qualified First Time Home Buyers but has since been made available to everyone even rep ...
read moreRRSP Mortgage: Using Your RRSP to Buy a Home
January 1, 2015 | Posted by: Calum Ross
An RRSP mortgage is possible in Canada. The Home Buyers’ Plan is a program established by the federal government that allows individuals, who are qualified first-time home buyer (as defined by C ...
read moreCash Back Mortgages in Canada
January 1, 2015 | Posted by: Calum Ross
You can receive as much as 5% of the mortgage amount paid to you at closing in Canada. That’s $14,000 on a $200,000 mortgage. This program is available to everyone, but since it is really design ...
read moreClosing Costs
January 1, 2015 | Posted by: Calum Ross
Closing costs – the list of charges that your lawyer presents to you on the closing date – surprises many people. Since they are additional costs over and above the price of the home. Acco ...
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