Posted on
June 10/2019By
northwood
If you are thinking of buying some real estate then you will likely need to seek out a mortgage so that you will be able to finance such a large investment. However, there are several different types of mortgages available to most Canadians, so you will need to determine which mortgage solution is right for you. Here, we will discuss some of the obstacles that you may come across while trying to obtain a rural mortgage as well as what obtaining a rural mortgage actually entails. The Challenges of Obtaining a Rural Mortgage The truth of the matter is…
Posted on
June 03/2019By
northwood
Torontonians are always looking for mortgage solutions. With so many different experts disagreeing on whether or not Canadians should pay off their mortgage before retirement it can be difficult to decide who to listen to. Mortgage renewing and refinancing are also options that homeowners in Toronto who are are seeking effective mortgage solutions will need to consider at some point. Here, we will discuss some of the pros and cons of paying off one’s mortgage before retirement. Advantages of Paying Off Your Mortgage Before Retirement One of the biggest advantages of paying off your mortgage before you retire is that…
Posted on
May 26/2019By
northwood
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…
Posted on
May 17/2019By
northwood
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…
Posted on
May 09/2019By
northwood
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…
