Posts from the ‘Product Commentary’ Category
10 Key Points About Deferred Mortgage Payment Programs #COVID-19
Last Updated on March 21st, 2020
Want to learn more about deferred mortgage payment programs? Here are ten key points to know.
Not All Variable-Rate Mortgage Contracts Are Created Equal
Monday Morning Interest Rate Update for May 28, 2018
Canadian borrowers are well advised to look carefully at the terms and conditions in their mortgage contract because two mortgages with the same headline rate can come with very different associated costs. To help in that regard, today’s post highlights five important questions to ask when evaluating variable-rate mortgage products.
Why Today’s Fixed Versus Variable Debate Is All About the Spread
Monday Morning Interest Rate Update for August 24, 2015
Why Today’s Fixed Versus Variable Debate Is All About the Spread – Monday Morning Interest Rate Update (August 24, 2015)
Large Mortgage Loans and the Sliding Scales Used to Underwrite Them
Last Updated on December 11th, 2018
Lenders use additional scrutiny when underwriting large mortgage loans, and most will apply a sliding scale on large conventional loans which limits the amount you can borrow. Today’s post details how sliding scales work and offers some other useful tips to anyone considering a mortgage of $750,000 or more.
Bridge Financing – A Solution When Buy and Sell Dates Don’t Overlap
Last Updated on March 2nd, 2020
If you are selling your current home and need to use the equity as the down payment on your new property, what do you do if the closing dates don’t line up?
Mortgages for Co-op and Co-ownership Properties
Last Updated on December 12th, 2018
If you’re a home buyer searching for a bargain in a seller’s market, co-op and co-ownership properties may be just the ticket.
The Best Mortgage Product No One is Talking About
Last Updated on December 14th, 2018
Conservative borrowers who prefer fixed rates almost always choose a five-year term. In today’s environment, I think there’s a much better deal to be had, even if no one is talking about it. In today’s post, I make my case.
Mortgages for New Canadian Immigrants
Last Updated on December 11th, 2018
If you or someone you know is a new immigrant to Canada, you may be surprised at the attractive mortgage options that are available at competitive market rates. To learn more, check out today’s post.
Title Insurance: How It Works and Why You Should Buy It
Last Updated on December 10th, 2018
Title insurance offers a surprisingly broad and inexpensive way to cover yourself against a host of potentially expensive problems relating to your property. To learn more, check out today’s post.
Open vs. Closed Mortgages: The Surprising Winner Is…
Last Updated on December 10th, 2018
Home-equity lines-of-credit (HELOCs) and open variable-rate mortgages are tempting to borrowers because they can be paid off with no penalty. Are they worth it? Using current interest rates, today’s post puts the numbers to the test and compares the cost of open- vs. closed-term financing solutions. As you will see, the results are both surprising and definitive.
The Mortgage Deal of the Week
Last Updated on November 10th, 2017
Today’s post introduces a new feature on our website called “The Deal of the Week”, which highlights the best mortgage deal currently available. Our inaugural offer is one of the best to come along in a very long time.
Canadian Reverse Mortgages Explained
Last Updated on December 10th, 2018
Reverse mortgages are growing in popularity as an increasing number of baby boomers reach retirement age. While categorized as a mortgage, this type of loan has unique characteristics that make it quite different from other forms of traditional financing. Today’s post explains how reverse mortgages work and examines the strengths and weaknesses of this financing option.
Mortgage Financing for Vacation Properties and Second Homes
Last Updated on November 10th, 2017
If the current heat wave has you thumbing through the cottage listings and yearning for an escape, then today’s post on financing for vacation properties and second homes will be of interest. We give you an overview of what lenders are looking for and offer some perspective on how they view these deals.
CMHC Loan Insurance – How It Works and How it Can Be Improved
Last Updated on December 11th, 2018
If you want to buy a house and have a down payment of less than 20%, you are required to buy mortgage loan insurance on behalf of your lender. Today’s post explains how loan insurance works and offers some suggestions to the powers that be for how we can make it better.
Hybrids – The Safe Mortgage
Last Updated on November 10th, 2017
Are we headed for deflation or inflation? If it’s deflation, choose variable, but for runaway inflation, go fixed. Can’t decide which scenario is more likely when even the experts don’t agree? If you’d rather hedge your bets, consider my safe mortgage approach.
