Posted on
June 14/2021By
northwood
Homeowners may have a number of good reasons for wanting to refinance their home, such as gaining access to the equity or getting a lower interest rate. Depending on your personal goals, there are many benefits you can gain from refinancing your mortgage. What is mortgage refinancing? When you refinance your mortgage, you are paying off your current lender and taking out a new mortgage. There are a variety of mortgage options available, which means you can get new terms and conditions for your mortgage. 5 Benefits of Refinancing Your Mortgage Here are some of the biggest advantages of refinancing…
Posted on
June 07/2021By
northwood
Stay at home measures that have affected life in Canada over the past year have caused an uptick in the number of people opting to move out of the city for a bigger home. But is the move worth it? Here are the pros and cons of leaving the city to buy a house. Pros You may already have some ideas of why you would want to move from the city but here are some of the most common reasons people move: Lifestyle – the attraction of smaller centres for many, particularly families, is the idea of knowing your neighbours,…
Posted on
May 24/2021By
northwood
Deciding to renew your mortgage can be a big decision. If you are undecided about whether the time is right, then here are some things to consider. Plan Early Don’t wait until your mortgage term is over before you make a renewal decision. Consider how your situation has changed since you first got your mortgage. The sooner you can assess your new mortgage needs, the more time you’ll have to find a product that is right for you. Remember that if you decide to switch lenders, you’ll need to go through an application and approval process, which can take some…
Posted on
May 17/2021By
northwood
Buying your first home in Canada is one of the most important decisions you’ll make. However, it will take some effort, as you’ll need to put at least 5% of the total property cost towards a down payment. If you’re unsure how much that will be for your dream home, then you can use a mortgage qualification calculator to work it out. Saving up this money may seem like a daunting task, but it doesn’t have to be. Here are some easy ways you can start to save up for your down payment. 1. Put something away every month This…
Posted on
May 10/2021By
northwood
Getting a mortgage can be an exciting and stressful time. Having a mortgage broker to walk you through it can help relieve your anxiety and simplify the experience. Here are some of the most important questions you should ask your broker. 1. How long have you been in the business? The mortgage industry is competitive. You’ll want to work with a broker who has several years of experience, which equates to good connections with various lenders. 2. Can I get pre-approval? Knowing how much you might be able to get from a mortgage is key to helping you find a…
