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How To Prepare For Your First Mortgage

Posted onDecember 07/2015By

If you are a soon-to-be first time homebuyer, congratulations! This is a memorable event; one that many people long to achieve. Owning a home provides an endless amount of advantages over renting, perhaps the most important of all being that your money is actually being invested in something. When paying rent you never see a return, but the exact opposite is true for those who make the switch to home ownership. Unless the housing market tanks when you need to sell, you can always expect at the very least a slight increase in your property value. Equity is something to be cherished, but with this exciting new life venture comes a major responsibility, one that comes in the form of a mortgage. Committing to a 15, 20, or 30 year, six-figure loan (the average price most first time buyers pay) is no small matter, and as such requires a ton…

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Should You Negotiate Your Mortgage?

Posted onOctober 26/2015By

Finally thinking about joining the homeowner club – negotiation is a key trick of the trade when it comes to mortgages. If you know the power of negotiation, you will save yourself a lot of hassle, money and time in the end. Becoming educated on the home buying process and the financial aspects of it, can give you the upper hand. Remember the lenders are competing for your business, you don’t have to just settle for what you can get, you can get the best if you know your stuff. 3 Tips to help you negotiate your mortgage Calculate your finances. It’s important that you are fully aware of your finances. Know your credit score and how much money you have in the bank. If you have a high credit score, try to maintain it. If your credit score is on the lower end, speak with your financial agent to…

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Why Do You Need Home Insurance?

Posted onOctober 12/2015By

Home insurance is the best way to manage your risks and to protect your assets. Although home insurance is not mandatory in Canada, it doesn’t mean that you shouldn’t get it. It is highly recommended by lenders and other experts in the field to get home insurance. The fees that you pay to your insurance company, also known as the premium, covers the cost of a potential loss. If something was to happen to your property, you want to make sure that you and your family are best protected. You are able to choose the best insurance plan for your wallet and home, as most insurers offer coverage in the following areas: Water damage This will be needed if you encounter plumbing problems or an appliance breaks down causing flooding, clogging or other types of damage. Every year many homeowners deal with water damage issues in their homes, water damage…

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3 Mortgage Options After Losing Your Job

Posted onOctober 02/2015By

Worst case scenario: you’ve just lost your job. It’s a reality for thousands of people across the country and now it’s happening to you. Life changes and it changes quickly, being prepared for the unexpected is the best way for you to handle this situation, but that doesn’t always work out. Don’t let the stress take over; come up with a plan and work on achieving financial success even in your time of need. There are many different paths that you can go down – but one of the first things you can do is speak with an advisor that can review your current situation and make the appropriate recommendations. It can be one big headache trying to figure out the next steps, but your advisor will know best. Refinancing One of the best ways to save money on your mortgage is by lowering your interest rate – you can…

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Know The Key Factors To Getting A Mortgage For A Cottage

Posted onSeptember 07/2015By

Owning a cottage can be a wonderful thing if you enjoy leaving the concrete jungle that is city life and embracing the green oasis that is country life. When the warm weather arrives, nothing beats loading up the family car with loved ones, luggage, and other goods, and making the trek to the family cottage. Unless you were gifted one or had a sizable enough cash pile to buy one outright, you will need to obtain a mortgage to make your dreams of owning a cottage come true. Here are some key factors to getting a mortgage for a cottage. What you’ll find is that lenders will consider certain criteria before deciding whether or not to approve your cottage mortgage request. Location, Location, Location Lenders will want to assess the cottage you want to buy to determine, first, if they should lend you the money you need and to determine…

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