So you’ve saved up some cash, done the necessary research, and excitedly informed your family of your intention to purchase a beautiful property. All that’s left to do is secure a mortgage. However, when it comes to mortgage financing, there are many questions you may have but often find answers difficult to come by. Therefore, Jackie at The Mortgage Girl wants to arm you with the most accurate information available to help you purchase a home. To do this, I’ve answered some of the most frequently asked questions about mortgage financing.
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Frequently Asked Questions About Mortgage Financing
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What is CMHC Mortgage Loan Insurance?
Original Article Source Credits: Canada Mortgage & Housing Corporation, https://www.cmhc-schl.gc.ca/
Article Written By: NA
Original Article Posted on: NA
Link to Original Article: https://www.cmhc-schl.gc.ca/en/buying/mortgage-loan-insurance-for-consumers/what-is-mortgage-loan-insurance
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How much you need for a down payment
Original Article Source Credits: CANADA , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-09-16
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
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Bank Of Canada Pumping Billions Into Mortgage Liquidity To Prop Up Real Estate
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Stephen Punwasi
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/bank-of-canada-pumping-billions-into-mortgage-liquidity-to-prop-up-real-estate/
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‘It’s the lowest we’ve ever been’ — mortgage rates drop through the floor with some as low as 1.65%
Original Article Source Credits: The Star , https://www.thestar.com/
Article Written By: Tess Kalinowski
Original Article Posted on: Aug. 7, 2020
Link to Original Article: https://www.thestar.com/business/2020/08/07/you-can-get-a-fixed-rate-as-low-as-184-per-cent-which-is-unbelievable-low-mortgage-rates-driving-up-home-prices.html
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COVID-19 Stokes Canadian Homebuying Intentions: MPC Report
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: August 10, 2020
Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/covid-19-stokes-canadian-homebuying-intentions-mpc-report/
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Canadian New Home Starts Rise To Highest Level Since 2017, Pandemic Be Damned
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/canadian-new-home-starts-rise-to-highest-level-since-2017-pandemic-be-damned/
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CMHC's Siddall Calls on Lenders & Default Insurers to Tighten Lending
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: August 13, 2020
Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/cmhcs-siddall-calls-on-lenders-default-insurers-to-tighten-lending/
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Why has my mortgage application been declined?!?!
With changing Mortgage Rules it is best to use an experienced Mortgage Broker. Contact Jackie Woodward and put her over 35 years' experience to work for you!!
Being declined for a mortgage can be quite disheartening, especially when you consider all of the hard work that goes into applying for one in the first place!
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What Makes The Mortgage Girl Stand Out
Thanks for stopping by my blog. If you’re looking for more information about The Mortgage Girl, you’ve come to the right place.
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Top Five Things To Look For When Hiring A Mortgage Broker
Obtaining the right mortgage solution to finance your home is essential to fulfilling your dream of homeownership. As an inexperienced mortgage seeker, sieving through hundreds of mortgage products to find one that best suits your needs may seem overwhelming. At such times, it is advisable to work with an experienced mortgage broker as they make the mortgage process more manageable and less tedious for you.
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Meet The Face Behind The Mortgage Girl
I’m Jackie Woodward, the proud owner of The Mortgage Girl.
I look forward to sharing my story. I hope that you will enjoy getting to know me better.
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Announcing The New Website
We are delighted to announce the launch of our new website!
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New Website Under Construction
New Website Coming Soon!
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MORTGAGE RATES DROP AGAIN, NOW WHAT????
As the mortgage rates continue to fall, many economists are having trouble predicting what the rates will do in the future, however, the consensus is that rates will remain unchanged for the short term. Simply, the Bank Rate set by the Bank of Canada is increased when the economy is doing well but if there is a recession then low rates are used to cushion the economy. As the economic forecasters don’t know what’s going to happen, they’ve split the difference and predicted everything will remain unchanged for now……. What has changed since last year when warnings of significant higher…
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Tips for Renewing Your Mortgage
If you are a current homeowner and your amortization period is approaching its maturity date, you may want to start considering what you should do about your Edmonton mortgage. If you have not paid your loan off in full, you should consider renewing your mortgage. This is a process that most borrowers apply for until they no longer have a balance on their home loan. So, to help provide some guidance, your local broker with The Mortgage Group has listed some useful tips for renewing your mortgage. Tip #1: Start The Process Now You do not have to wait and apply for a mortgage…
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How to Prepare for Your First Edmonton Mortgage Broker Meeting
For many people, the process of securing an Edmonton mortgage can feel complex, overwhelming, and a bit intimidating. Whether you are buying your first home, remortgaging, or buying a second home, Edmonton Mortgage Broker can help make the process easier. If you aren’t sure what to expect with your first meeting or aren’t sure what a mortgage broker does, we’ve covered the basics to help prepare you and let you know what to expect. Personal ID Be sure you have one or two forms of up to date IDs with you, such as a driver’s license or passport. You can also use…
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We have been told to take a fixed rate mortgage term until now! What has changed???
Before reading any further, if you are the type of person who can’t sleep at night knowing your interest rate may go up, even by just a little, a variable rate mortgage may not be the best option for you. With a fixed rate mortgage term, the mortgage rate and payment(s) you make each month will stay the same for the term of your mortgage. With a variable rate mortgage, the mortgage rate will change with the prime lending rate as set by your lender and depending on which lender you are with, your payment amount may or may not change…
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Do you know if your mortgage is a collateral or a standard charge? You should
Given all of the mortgage products with many different lenders available these days, I would say it’s a good time to remind all to read the fine print in any and every contract put in front of you. If you don’t understand something, you need to ask the questions. As the mortgage interest rates start to significantly increase, do be aware of exactly what you are getting into when borrowing and paying down the largest debt most of us will ever have in our lifetimes. Important to be aware that if you have just a mortgage, that is what will be discussed…
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What? A mortgage with no regular payments required? Is a Reverse Mortgage right for you?
What is a Reverse Mortgage? A reverse mortgage is a loan that allows you to turn a portion of your home equity into cash without having to sell your home. The maximum amount you will be able to borrow will depend on your age, your home’s appraised value and the lender. With this long-term financing solution, you will have access to a dependable source of tax -free funds without the stress of having to make any payments until the loan is due. This is usually when you move out of your home, sell or the last borrower dies. How do I know if…
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