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What’s Included in Closing Costs?

Posted onMay 26/2019By

Closing costs in Ontario are an important part of your mortgage and home ownership budget, yet many buyers have not heard of them. You don’t want to be surprised when you go to your bank or broker’s office and discover that there are additional costs to cover on the day of taking ownership of your new home. Closing costs can add up quickly, so we’re going to discuss them in this post so that you can understand what they are and not experience any unpleasant surprises when you’re ready to collect the keys to your new home. Closing Costs Home…

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How to Get the Best Mortgage Rate

Posted onMay 17/2019By

Everyone knows that buying property is expensive, so when mortgage renewal time in Ontario comes around, it’s an opportunity to check various deals and save money. Whether you’re looking for a better rate on a mortgage renewal or aiming to borrow for a new mortgage, it’s important to note that banks and other lenders look at a number of key factors when you apply for a mortgage. This post will highlight those factors and give you the best tips on how to get the best mortgage rate. Improve your credit score. If you don’t intend to apply for a mortgage…

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What’s the Difference With a Commercial Mortgage?

Posted onMay 09/2019By

If you live in a part of Canada which has low rental vacancies, you might be tempted to invest in rental properties. A rental property usually generates revenue and often turns out to be a good long-term investment. However, it’s important that you understand the difference between residential and commercial mortgages Ontario. Commercial Mortgages Ontario Commercial real estate is used for the location of a business or to rent out, thereby generating income for the owner. On the other hand, residential real estate is an owned residence. However, mortgage issues in both sectors can become confusing because some rental properties…

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What is a Fixed Rate Mortgage? Is it Right for You?

Posted onMay 03/2019By

The world of mortgages is complex when you are new to it. And, remember, there are no stupid questions! You might have heard the names of different types of mortgages, but were not sure what they were. Let’s start with the fixed rate mortgage. In this post, we are going to explain what it is and if it might be right for you. Always keep in mind, though, that you should talk to an independent mortgage broker before making any final decisions. A fixed rate mortgage is one that has the same (fixed) interest rate for the full-time term of…

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