Posted on
December 28/2020By
northwood
Buying a home can be an exciting time, but it can also leave you wondering when to do so. Depending on what you are looking for in a property, you may want to wait until the market is more favourable. If you are looking for the best deal, you’ll want to understand how the real estate industry changes throughout the year. Here are some ways to know when it’s best to buy real estate in Toronto. Best Time of Year to Buy a Home While there is no perfect time of year to buy a home that will suit everyone,…
Posted on
December 21/2020By
northwood
Adjusting your mortgage can help you save money or reduce your interest rate. As well, it can help you build equity in your home faster. Getting a better rate or lower payment on your mortgage can be an attractive reason to refinance your mortgage. However, even if interest rates are low, is it always a good time to refinance? Here are some things to know before you renew. Good Reasons to Refinance The following are the best reasons to seek a refinance of your mortgage: It will lower your monthly mortgage payments You will build up more equity You can…
Posted on
December 14/2020By
northwood
Losing your spouse can be a sad and stressful time. However, you shouldn’t also have to worry about losing your home during this difficult period. Here are some ways that you can get control of your mortgage situation so you can stay in your home and manage your mortgage payments and budgeting after the death of your spouse. Things to Consider After the Death of Your Spouse There are several things that you should be clear about when it comes to your mortgage and your home. These include: Whether your name was on the mortgage How much is left owing…
Posted on
December 07/2020By
northwood
If you are looking to downsize your home, refinance your current loan, or tap into your equity to help fund your retirement, it is important to know that no one is ever too old to apply for a mortgage. Age is not a factor that loan providers consider during the application process. In fact, it would be unethical for mortgage providers to discriminate in that way. However, there are some things you should know before you apply for a mortgage no matter what your age. Mortgage Myths Debunked The mortgage application process can be overwhelming and confusing. This is probably…
Posted on
November 30/2020By
northwood
Building up equity in your home is one of the advantages of owning property. Another benefit is being able to use the equity sooner rather than later. That is why some homeowners opt for a second mortgage, which allows them to access money for projects or other activities without having to sell their home. What is a second mortgage? A second mortgage is a loan that homeowners can apply for that uses the property as collateral. It can give a homeowner access to funds without having to sell their home. It is called a second mortgage because, in case of…
