Ottawa has toughened some rules for mortgage refinancing…
Last week I wrote about qualifying on the 5 year rate.
Number 2 on the list of mortgage changes is limiting the maximum refinance value to 90% of your property value. Previously you were aloud to tap into the equity in your property up to 95% loan to value.
The [...]
Ottawa has toughened on some mortgage rules! or has it?
This all depends on who you talk to. If you talk to the general consumer who just read Flaherty’s announcement it can be a little scary (it’s had my phone ringing with inquiries to try and beat the new rules.)
Personally I think the new “tightening” will [...]
Refinance and Renewal are two very popular terms right now in the mortgage market.
Renewal is what you are doing when your term is completed, you may renew with your current lender which is what a great majority of people do. They simply sign back the renewal form and tick a box with the desired term [...]
After watching bond rates drop, watching the Bank of Canada’s decision to cut key interest rates, watching lenders and banks actually pass on the full cuts, watching lenders cut their fixed rates to the lowest they’ve been for over 9 years, watching the Canucks cut winning out of their schedule (with the exception of last [...]
Save $10,595.86 and 3 years and 6 months off your amortization by doing as little as dividing your monthly mortgage payment in half!
That’s right it is that simple, and I can show you how!
The next step is to determine what you can afford and for simplicity lets say you’ve purchased your place and good news, [...]
Say good-bye to the 40 year Amortization! In what the Canadian Government is calling a guard against the US style housing bubble, a number of changes are going to take place in the near future in the Canadian Mortgage market. Well, it seems as that the days of 100% financing and 40 year amortizations are [...]
