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Things to Consider When Retiring With a Mortgage in Ontario

Posted onAugust 28/2019By

While retiring is something that many Canadians look forward to, the celebrations can be cut short if they have a substantial amount of debt to deal with in their twilight years. For instance, many Canadians may worry about retiring with a mortgage. In fact, a recent Equifax study found that Canadians over the age of 65 have accrued debt at a much faster rate when compared to other Canadian demographics. As such, many Canadians may need to turn to innovative commercial and residential mortgage solutions in order to deal with their rising debts. Here, we will focus primarily on the things you will need to consider when retiring with a mortgage in Ontario. Focus on Paying Off Your Debts Many middle-aged people will focus on helping their children pay off their student loans or car payments, or will prioritize the growth of their investment portfolios, while they slowly but surely…

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Mortgage Solutions for Buying Rural Properties

Posted onJune 10/2019By

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…

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Should You Pay Off Your Mortgage Before Retirement?

Posted onJune 03/2019By

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…

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5 Things to do Before Applying for a Commercial Mortgage

Posted onMarch 20/2019By

Applying for a commercial mortgage is different from a regular home mortgage because there is a piece of commercial property involved that acts as a piece of collateral to secure the loan. This property could be an office, warehouse, apartment building, mall, etc. In these types of arrangements, borrowers can often get a lower interest rate because the loan is seen as secure. Commercial mortgages can also come with longer terms and a bigger loan amount because the property is considered a fixed asset, which means it does not depreciate over time as with other items, such as a vehicle.…

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Renew Your Mortgage the Right Way

Posted onMarch 12/2019By

If you are contemplating renewing your mortgage then you should really consider the opportunity that is before you. There are many things that may have changed since you first took out the mortgage. You may be looking to use your home equity to fund a renovation project on your home. Alternatively, you may want to use that equity in other ways, such as purchasing a cottage or holiday home. You may also want to make some long-term investments to secure your future. There is also the option of putting your other high-interest debts into your mortgage when it is up…

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