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not able to qualify for a mortgage

Not able to qualify for a mortgage at your bank?

February 13, 2019 | Applying for a Mortgage

Not able to qualify for a mortgage at your bank? An Ottawa mortgage broker can help you explore solutions with alternative lenders and private lenders. There may come a time when your finances are not quite where they need to be to qualify for a mortga ...

pay your property taxes

Three Ways You Can Pay Your Property Taxes

When signing the mortgage package your Ottawa mortgage broker will ask you how you would like to pay your property taxes.  Here are three ways you can pay them. Learn more: Ottawa mortgage broker How to Pay Your Property Taxes Have Your Mortgage Lender ...

interest rate differential

What is an Interest Rate Differential (IRD) and How is it Calculated?

A mortgage is a contract between you and the lender. The contract has terms, conditions, obligations, rights and so on. Many lenders will allow you to break the contract if you pay a penalty. For a fixed rate mortgage, this penalty is often the higher ...

High ratio, conventional, insured, insurable and uninsurable

High ratio, conventional, insured, insurable and uninsurable

The reward for making a larger down payment in the past was a lower rate.  However, with recent changes in mortgage rules many lenders now have a higher rate for those with larger down payments.  In the past mortgages were looked at as high ratio (less ...

What are all these insurances?

What are all these insurances?

When buying a home, the different types of insurance that you may be offered, can be a little confusing.  If you've ever asked, "What are all these insurances?", keep reading to learn more.    What are all these insurances?   The three main i ...

variable rate mortgage

Important points to know about prime and your variable rate mortgage

January 22, 2019 | Best Mortgage Rates

Here are some important points to know about prime and your variable rate mortgage. Fixed rate mortgage holders are not affected by changes in prime. Bank of Canada rate changes only affect those with a variable rate mortgage. On July 12th and Septembe ...

Vacant Possession

Vacant Possession

January 22, 2019 | Applying for a Mortgage

If purchasing a home in Ottawa that currently has a tenant and you would like to live in it, it is important to ask for vacant possession in your offer.   Vacant possession   Many purchasers when looking at a property with the current tenant ...

collateral mortgages

Pros and cons of a collateral mortgage

In the last few years collateral mortgages have gained quite a bit of a negative reputation. This has been heightened by television shows such as CBC Marketplace.  Also, newspapers such as the Toronto Star discussing the downsides to a collateral mortg ...

Fixed and variable mortgage rates

Fixed and variable mortgage rates on the rise - What you need to know

January 22, 2019 | Best Mortgage Rates

As we saw on Oct 24th 2018 the Bank of Canada has raised their overnight rate again by 0.25%. This making prime at bank’s now 3.95%. TD Canada Trust’s prime is 0.15% higher than other Canadian banks and currently is at 4.10%.  With fixed and variable m ...

self employed home buyers

CMHC changes for self employed home buyers

CMHC is making changes to assist self employed home buyers.  The announcement came on July 19, 2018. CMHC noted that those who are with self employment are a large part of the Canadian workforce. The changes will help those who are self employed obtain ...

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