Category: Types of Lenders and Mortgages

Fixed or Variable Rate Mortgage – Which is Right for You?

Once you have an accepted offer on a home, you must choose the type of mortgage you would like to have. Do you want a fixed or variable rate mortgage?  Most people opt for a fixed-rate over a variable rate because of its simplicity and stability, but it’s not the only option. Variable rate mortgages […]

5 Important Types of Mortgages You Should Know

Types of mortgages There are many mortgage products in the market today. So I’m looking to buy a home and find the options overwhelming. Especially when buying your first home, the choices and options may seem endless. To assist you in this process, here are a few basic types of mortgages you should know. 1. Variable […]

Cottage Mortgage in Ontario

Some may feel there is no a better way to spend a summer weekend than at the cottage. There are no shortages of cottages in Ontario. However, getting a cottage mortgage in Ontario can sometimes seem like a confusing and overwhelming task. Cottage Mortgages in Ontario: What You Should Know Is a Cottage Mortgage in Ontario […]

New to Canada Mortgage and New Immigrant Mortgage

For those who are new to Canada or recently immigrated to Canada and are thinking of buying a home in Ottawa, here is some information on a new to Canada mortgage and a new immigrant mortgage.   New to Canada Mortgage   To begin, it’s good to open a bank account and start building your […]

Monoline Lenders

One of the major benefits of working with a mortgage broker in Ottawa is that they have access to many lenders from banks, to credit unions to monoline lenders.    Monoline Lenders   For clients only familiar with traditional banks, many of the lenders available with Ottawa mortgage brokers may be new to you.  These lenders, […]

Ottawa Reverse Mortgage

A husband and wife in their early seventies felt that they needed a little more cash on hand.  They were considering cashing in some of the limited investments they had left.  Here is an Ottawa reverse mortgage success story. The couple is uneasy each day and the smallest financial upset is a big challenge for them.   […]

No Down Payment Mortgage Ottawa

No down payment mortgage options for Ottawa. One of the biggest challenges when wanting to purchase a home is saving for the down payment. Keep reading to learn more about the no down payment* mortgage options in Ottawa.  With these options you can buy a home with no down payment saved.    No Down Payment […]

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 mortgage and the lenders offering them.   One major challenge is that lenders who are […]

Banks and credit unions versus monoline lenders

Everyone is familiar with a bank and a credit union however many are not familiar with a monoline lender.   What is a monoline lender? What is a monoline lender and why are they an option to explore when looking for a mortgage? A specialized lender Mono, meaning one, means that a monoline lender has […]

Purchase Plus Improvements mortgage

This mortgage is for those of you who have been looking for that perfect home but there is always something that just stands out that is a little wrong with it. Perhaps it's a dated furnace, older windows or shingles that need repair. Also, maybe you would like to put in a finished basement. The […]