Tag: mortgage broker
Mortgage after bankruptcy – how to get a fair deal
How to get a fair mortgage deal after bankruptcy Buying a home is a significant milestone, and it can feel daunting, especially after going through bankruptcy. However, owning a home after bankruptcy is achievable with careful planning and a proactive approach to securing a mortgage. In Canada, there are specific steps and strategies to help […]
Seniors and reverse mortgages: unlocking your home’s value
Aging in place with confidence: how reverse mortgages can benefit you If you’ve reached that point in life where you’re thinking about the years ahead and what you want them to look like, your financial plan plays a big part in the options available to you. The idea of ‘aging in place’ – staying in […]
How to buy your first home in 10 steps [infographic]
A 10-step roadmap for first-time homebuyers: how to buy your first home The journey to buy your first home is an exciting and pivotal time in your life. In my work as a mortgage broker I’ve had the privilege of helping many people find their first homes, so I understand that this process can also […]
How to buy your first home by 29
What’s the rush? The financial “why” HSBC did an interesting study in the UK in 2014. It suggested that if you buy your first home by 29, you create a positive cycle that not only benefits your own financial situation, but that of your future children as well. Buying early gives enough of a boost that you […]
How using a mortgage broker reduces your rate by 17.5 basis points
Mortgage brokers drive mortgage rates down A 2011 Bank of Canada study said that “the average impact of a mortgage broker is to reduce rates by 17.5 basis points.” In fact, controlling for certain variables such as borrower income, they actually found that “borrowers using a broker got a discount of approximately 32 basis points.” (See the […]
Mortgage rates going up: the Trump effect
Lenders advise: mortgage rates going up We’ve just received several notifications of mortgage rates going up, imminently. Rob Carrick’s latest article in the Globe and Mail highlights the impact of the U.S. election on bond rates. “Mr. Trump’s plan is to stimulate the slow-growing U.S. economy by spending big on infrastructure, and that has financial markets worrying […]
Why use a mortgage broker? 59% would, when they learn the benefits
Do first-time homebuyers really get any benefit from a mortgage broker? Last week I met with Tom* and Marcy*, a couple in their early 30s who are interested in doing the mortgage planning for the purchase of their first home. They’re thinking of a property in the $700,000 range in Toronto or Mississauga. They have solid jobs; Tom’s […]
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