April 26, 2019
With the rising cost of living and housing at a high, it can be difficult to save up for a substantial amount for a down payment. The sooner you start saving though, the sooner you can stop renting and finally own a home. Many hopeful buyers do not realize that they are closer to home ownership than they think. Here are some overlooked sources of money you can put towards your down payment: U...
April 26, 2019
The way a mortgage is structured merely relates to how much you have to pay each month and over how many months. There are fixed rate mortgages, which is also referred to as adjustable rate mortgages, and variable rate mortgages or VRMs. The difference between these two types of rates is right in their names. One does not change during the mortgage term while the other can. A fixed rate mortga...
April 15, 2019
Ask any home buyer and they will tell you that one thing they want is the best mortgage at an excellent price. Negotiating a deal on your mortgage may seem undoable, especially if your mortgage broker leads you to believe that you stand no chance of getting a better deal since you already have been offered the best one. Here are a few tips on how to negotiate your mortgage rate. Honesty Whe...
April 1, 2019
A reverse mortgage is a loan that is secured against the value of your home. It is intended exclusively for homeowners who are 55 years and older. It enables them to convert up to 55% of their home's value into tax-free cash. You can use the funds from a reverse mortgage for anything you desire; to cover monthly expenses, pay off debt, renovate your home, or travel - the choice is yours! You ...
March 19, 2019
As a first-time home buyer in Edmonton, getting approved for a mortgage could be one of the most stressful steps in your home buying process. This stress eases around the second time when you already know how to get your first mortgage approved. In case you weren’t already pre-approved, you will begin your process of mortgage approval after making an Offer to Purchase and after your offer has b...
March 15, 2019
Having the best mortgage advice is invaluable. Whether you are a first-time home buyer, looking for the second mortgage or refinancing an existing one, having the best mortgage broker in Edmonton is priceless. While your mortgage broker can give you a lot of information and insights, it is best to have some preliminary knowledge so that you can manage your finances efficiently. One of the things ...
February 15, 2019
The most significant monthly payment for most Canadians is their mortgage. And, yet, so many complacently renew their mortgage instead of finding a better deal when their term is up. You should be shopping for a better rate at least half a year before your term is up for renewal. It is the longest period lenders will guarantee a rate. That way, if rates rise, you have your guaranteed rate, and if...
February 4, 2019
One of the most apparent advantages of being self-employed is that it gives you the freedom to write-off many personal expenses and pay a lower income tax. This is the reason why many people across Canada are opting to show self-employment or contractual employment. In fact, nearly 20% of all income earners throughout Canada have some kind of self-employment, even if it is part-time to gain tax b...
January 2, 2019
If you are a first time home buyer in Edmonton, you may be wondering what to expect from a home inspection. Home inspections are basically a part of the standard contingency for buyers so that they can be assured that their future home is structurally sound before moving in. However, many buyers underestimate the importance of carrying out a home inspection and making sure it is done correctly bef...
November 29, 2018
Buying a house is both an exciting and stressful process. There are many steps to getting approved for a mortgage and even more paperwork that comes with it. Save yourself from worrying and follow this guideline so that you can feel assured that you have everything you need during the home buying process. Pre-approval This part is not technically part of the process; it is instead more of a mark...
