A Quick Recap on First Time Home Buyer Mortgages
Canadian Mortgage Services
by CMSpeople
2w ago
Important Note regarding The First-Time Home Buyer Incentive First launched in 2019, the Canadian government was offering a helping hand through the First-Time Home Buyer Incentive (offered through CMHC). This program provided an interest-free down payment boost of 5% or 10% of the purchase price, depending on the type of property. Effective March 21, 2024, […] The post A Quick Recap on First Time Home Buyer Mortgages first appeared on Canadian Mortgage Services ..read more
Visit website
Should You Use a Mortgage Broker? Bank vs. Broker
Canadian Mortgage Services
by CMSpeople
3w ago
While banks are a familiar option, mortgage brokers offer distinct advantages that can make a significant difference in your homeownership journey – whether you’re purchasing your first home, or refinancing an existing mortgage. Here’s why a mortgage broker might be the ideal partner in navigating the complexities of securing a mortgage. Unveiling a Wider Mortgage […] The post Should You Use a Mortgage Broker? Bank vs. Broker first appeared on Canadian Mortgage Services ..read more
Visit website
B-ing There for You: A Guide to B-Lender Mortgages in Canada
Canadian Mortgage Services
by CMSpeople
1M ago
Buying a home in Canada is a dream for many, but navigating the mortgage maze can be daunting. And if you already own a home, perhaps a mortgage refinance is becoming a challenge with the big banks. If you’ve encountered roadblocks with traditional banks/lenders due to credit score, income, or down payment constraints, B lenders […] The post B-ing There for You: A Guide to B-Lender Mortgages in Canada first appeared on Canadian Mortgage Services ..read more
Visit website
What Documents do I Need to Get a Mortgage?
Canadian Mortgage Services
by CMSpeople
1M ago
Buying a home? Congrats! Or maybe you’re refinancing your mortgage to make your mortgage work for you. Now, before you get swept away in open-house dreams or renovation plans, let’s talk paperwork. This guide will serve as your roadmap, outlining the essential documents you’ll need to navigate the mortgage process smoothly and efficiently. While this […] The post What Documents do I Need to Get a Mortgage? first appeared on Canadian Mortgage Services ..read more
Visit website
Can I Get a Mortgage with Bad Credit or No Income?
Canadian Mortgage Services
by CMSpeople
1M ago
Mortgage qualifications haven’t changed much in the last decade, apart from minor underwriting adjustments over time. While these subtle adjustments have led to an adaptation of mortgage underwriting, both credit and income remain of greatest importance in obtaining a mortgage for the amount needed, and at an affordable interest rate. In short, banks and lenders […] The post Can I Get a Mortgage with Bad Credit or No Income? first appeared on Canadian Mortgage Services ..read more
Visit website
When Will Mortgage Rates Drop?
Canadian Mortgage Services
by CMSpeople
1M ago
Can you believe it’s been almost 2 years since mortgage rates first started their climb? For some, these 2 years have flown by, while for others, it’s been a financial nightmare. The Bank of Canada raised its policy rates 10 times between March 2022 and July 2023, totaling 4.75% in increases for variable-rate mortgages. Though […] The post When Will Mortgage Rates Drop? first appeared on Canadian Mortgage Services ..read more
Visit website
Mortgage Renewal Rates in Canada
Canadian Mortgage Services
by CMSpeople
2M ago
Here’s a crazy statistic: 80% of all mortgages outstanding as of March 2022 are coming up for renewal in 2024. This amounts to approximately $250 billion in mortgages. 2025 is expected to be an even bigger year with a whopping $350 billion in mortgage renewals expected. Although rate cuts are within sight, between now and […] The post Mortgage Renewal Rates in Canada first appeared on Canadian Mortgage Services ..read more
Visit website
How to Get a Home Equity Loan in 2024
Canadian Mortgage Services
by CMSpeople
2M ago
If there is ever a time when homebuyers need to access their home equity, it’s 2024. Rising costs across all categories have tightened the grip on household budgets. While mortgage rates have increased gradually over the last 18 months, the lag effect means that Canadians are realizing the damage more so now, than when the […] The post How to Get a Home Equity Loan in 2024 first appeared on Canadian Mortgage Services ..read more
Visit website
Everything you need to know about Mortgage Payment Frequency
Canadian Mortgage Services
by CMSpeople
4M ago
While monthly mortgage payments are the standard for many homeowners, choosing a different mortgage payment frequency can help pay off your mortgage sooner, or at the very least, make it easier to manage your household budget.   Regular Mortgage Payment Options  Here are the 4 types of regular mortgage payment frequencies:   Monthly – 12 […] The post Everything you need to know about Mortgage Payment Frequency first appeared on Canadian Mortgage Services ..read more
Visit website
What’s the Difference Between a Guarantor and Co-signer?
Canadian Mortgage Services
by CMSpeople
4M ago
To better understand the differences, we should first understand how a Guarantor and Co-signer are the same. A guarantor and co-signer are both used to help obtain mortgage financing on a property – whether it is a purchase or a mortgage refinance. This is required when the primary applicant(s) fall short on credit or income […] The post What’s the Difference Between a Guarantor and Co-signer? first appeared on Canadian Mortgage Services ..read more
Visit website

Follow Canadian Mortgage Services on FeedSpot

Continue with Google
Continue with Apple
OR