No Income Verification Mortgages interest self-employed borrowers but come with higher rates and fees in the increased risk. Lengthy extended amortizations over 25 years or so reduce monthly costs but increase total interest paid. First-time buyers purchasing homes under $500,000 still only need a 5% advance payment. Lenders closely review income, job stability, fico scores […]
Mortgage Renewals let borrowers refinance making use of their existing or even a new lender when term expires. First Time Home Buyer Mortgage Programs assist new entrants overcome traditional barriers transitioning renters validated status given future housing stability prospects upon graduation terms. The CMHC and OSFI have tightened mortgage regulations more than once recently to […]
First-time buyers should research available incentives like rebates before buying homes. Renewing mortgages past an acceptable limit in advance of maturity results in early discharge penalties and lost savings. Anti-predatory lending laws prevent lenders from providing mortgages borrowers cannot reasonably afford based on strict standards. The First Home Savings Account allows first-time buyers to save […]
