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The 3 Most Important Numbers for Your Mortgage Application

Posted onJune 18/2019By

If you are thinking of buying a property then you will likely need to obtain financing to purchase the home of your dreams. Many Canadians will begin the process by trying to crunch the numbers, looking at how much they will bring in each month from their jobs, as well as the down payment amount that they can afford to put down on their new home. However, there are 3 even more important numbers that you will need to assess in order to maximize the chances that your application will be approved. Credit Score   Your credit score will serve…

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Start Early and Do Your Research When Renewing Your Mortgage

Posted onSeptember 10/2018By

With rising interest rates and newfound stress testing rules, mortgage refinancing has become that much more expensive and complicated. As a result, if you want to avoid unexpected expenses and headaches along the way, it is important to start early and do your research when renewing your mortgage. Check Your Options Kelly Wilson is a mortgage broker who is also the co-proprietor of the Wilson Team brokerage firm in Ottawa. According to Wilson, the vast majority of Canadians stick to the same lender as far as mortgage renewals are concerned. However, this may prove unwise in some cases as taking…

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Three Helpful Mortgage Management Suggestions

Posted onApril 30/2018By

Buying a brand new home can be a terrific and rewarding experience. Paying for it, on the other hand, can sometimes be more than a little taxing. It can be particularly difficult in this time of increasing interest rates. If you want to minimize your mortgage expenses considerably, however, there are three effective options that can go a long way for you. Who says that handling your mortgage has to ruin your lifestyle and comfort? Handle Additional Payments on an Annual Basis It can be a good idea to manage single additional payments on a yearly basis. Doing so can decrease the balance you have left significantly. Note, too, that there’s another big benefit to it. If you manage this bonus payment, you’ll in no way, shape or form be obligated to take care of monthly interest for that specific principal. You won’t have to do this for the amount…

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