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How Does Mortgage Life Insurance Work in Ontario?

Posted onJuly 25/2022By

In Ontario, homeowners can add life insurance to their mortgage. Mortgage life insurance in Toronto requires a premium to be added to each monthly mortgage payment. Like general life insurance, this coverage protects your loved ones from expenses in the case of your death, specifically regarding your mortgage loan. At Northwood Mortgage, we help Canadians get the right mortgage life insurance for their mortgage product. We work with home and business owners across Toronto and the GTA and partner with the top financial institutions in Ontario to guarantee the best coverage and rates. Here, we’ll talk a bit about mortgage…

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How to Find the Right Commercial Mortgage Broker in Toronto

Posted onJuly 18/2022By

A commercial mortgage broker in Toronto is beneficial as you navigate the commercial real estate industry. Your mortgage can help you in many ways, including determining the right type of mortgage based on your: Business model Current business value/equity Credit score Incoming projections At Northwood Mortgage, we work with businesses across the Greater Toronto Area. We strive to be a brokerage that our clients can trust. In an ever-changing market, it’s important to have someone in your corner. If you’re a business needing a new commercial property, then having the right mortgage helps. Here, we’ll discuss the finer points of…

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Toronto’s Real Estate Market Is Slowing Down: Here’s What You Need to Know

Posted onJuly 11/2022By

The COVID-19 pandemic has caused a spike in real estate markets across Canada. Getting a mortgage in Toronto has become increasingly complicated with the rise in prices within the city. Fortunately, Toronto’s real estate market seems to be slowing down finally. This is a promising time for buyers, as prices should begin dropping slowly but surely. At Northwood Mortgage, we partner with families across the GTA. If your family is looking for a home, Northwood Mortgage can help you obtain a mortgage in Toronto, and with the cooling of the market, now’s the time to do so. As a leading…

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How Are Credit Scores Calculated in Canada?

Posted onJuly 04/2022By

Obtaining a low mortgage rate in Toronto requires a great broker and a good credit score. As a leading mortgage brokerage in Ontario, Northwood Mortgage often receives questions about how credit scores are calculated and what they mean. Here, we’ll take a closer look at your credit score, how it’s calculated, and why it impacts a low mortgage rate in Toronto. What is your credit score? Your credit score is a number between 300 to 900. It tells lenders whether there is financial risk involved when providing a: Loan Credit card Mortgage Rental unit Rental vehicle Your credit score helps…

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