Posted on
December 26/2018By
northwood
As recently as a decade ago, many people had something to look forward to during their mortgage renewals in Ontario. Following the recession and financial crash of 2008, falling interest rates soon became the norm. An entire generation of new home buyers was told that they could reduce their payments by renewing their mortgage. However, a lot can happen in a decade, and 2019 will usher in a new wave of higher mortgage rates when Ontarians decide to renew their mortgages. Read on for some recent trends and tips so that when it’s time to renew your mortgage, you’re informed…
Posted on
December 14/2018By
northwood
When it comes to renewing your mortgage there are numerous factors to consider. And with so much financial jargon and so many changing dynamics, your mortgage renewal can seem pretty overwhelming. Sometimes, having a few key pieces of information can be crucial, and arming yourself with just a little bit of industry knowledge can ensure that you’re in charge of your financial future. If you are planning on a mortgage renewal in Ontario, then the tips below should provide some of the extra help you need. Perform the Proper Rate Research Take the time to compare and contrast what you…
Posted on
December 10/2018By
northwood
If you are planning on renewing your mortgage you may feel apprehensive about it, or even overwhelmed. For many Canadians, purchasing a home can be scary! Given the enormity of the money being borrowed, many Canadians feel afraid and avoid doing sufficient research on such an intimidating topic. That’s why we’d like to offer some guidance to ensure that your mortgage renewal goes as smoothly as possible. In particular, we recommend that you consult with a broker for your mortgage renewal, for a number of important reasons. Get Better Rates By asking a mortgage broker for help, you will be…
Posted on
December 05/2018By
northwood
For most Canadians, their biggest monthly expense will be their mortgage. But did you know that over a quarter of Canadians will simply renew their mortgage once their term is up, instead of shopping around to try and find a better deal? We look for sales and discounts on clothes, groceries, gas, and almost everything else that we shop for, so why not our mortgages as well? Here, we provide some helpful tips so that you can get a better rate when you go for a mortgage renewal in Ontario. Start Looking Early The general rule of thumb is to…
Posted on
November 14/2018By
northwood
Obtaining a commercial mortgage in Ontario will allow you to either expand an existing property or purchase an altogether new property. Business debts can also be consolidated via a commercial mortgage in Ontario. However, the procedures or steps that are involved in getting a commercial mortgage are quite different from the steps required to qualify for a residential mortgage. It should also be noted that the interest rates for commercial mortgages tend to be much higher than their residential mortgage counterparts, as the risks incurred tend to be far greater with commercial properties. The good news is interest rates have…
