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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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Benefits of Mortgage Payment Calculator

Posted onMarch 04/2019By

If you have been hesitant about buying a home because of the current market or you have concerns over such a big financial commitment, a mortgage payment calculator may help put your mind at ease. When it comes to making these types of decisions, the more informed you are, the better equipped you are to make the right choice. A mortgage payment calculator can help you figure out what kind of monthly payment you are able to afford. However, before you attempt to use a mortgage payment calculator you will need a few details including the asking price, annual tax…

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What to Do If Your Mortgage Renewal Has Been Denied

Posted onJanuary 28/2019By

Learning that your mortgage renewal in Ontario has been denied will make you feel frustrated or outright angry. But once you’re over the initial surprise or shock, the good news is that there are steps you can take to solve this problem. It’s not uncommon for a homeowner’s mortgage renewal in Ontario to be denied, and that means there are financial companies out there to meet your needs and help you renew your mortgage. Why has My Mortgage Renewal Been Denied? That’s probably the first question you’re asking yourself. There are many reasons for this and they are based on, for example, payment history, employment status, and your financial situation, including debt levels. Now, though, the best step forward is to explore how you can get your mortgage renewed quickly. Mortgage Renewal in Ontario If your current lender will not renew your mortgage, you have no choice than to look…

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Recent Trends in Mortgage Renewals

Posted onDecember 26/2018By

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…

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