Most lenders allow porting mortgages to new properties so borrowers can hold forward existing rates and terms. The CMHC Green Home rebate refunds up to 25% of annual mortgage insurance costs for buying cost effective homes. Mortgage applications require documenting income, tax statements, deposit sources, property value and overall financial picture. The Canadian Mortgage and […]
Mortgages with variable rates or shorter terms often feature lower interest rates but greater uncertainty on future payments. Self Employed Mortgages require borrowers to deliver additional income verification in the increased risk for lenders. Canadians moving for work can deduct mortgage penalties, real-estate commissions, legal fees and more against Canadian employment income. Lower ratio mortgages […]
Fixed rate mortgages provide stability but reduce flexibility in accordance with adjustable rate mortgages. Mortgage Refinancing is smart when today’s interest rates have meaningfully dropped relative to the old mortgage. Mortgage Consumer Proposals let borrowers consolidate debts alongside mortgages equaling amounts determined achievable through subsequent careful analysis of total incomes and daily costs. Carefully managing […]
Borrowers ought to be cautious of credit card debt relief scams, where fraudulent organizations promise to get rid of or reduce debt in return for upfront fees. Borrowers who are considering a payday loan should carefully review the terms and conditions of the borrowed funds, including any prepayment penalties or another fees. Borrowers who will […]
