Category Archives: About Mortgage Brokers

Mortgage Brokers Offer Tangible Benefits

Very few people can afford to pay for their property in full. This is by no means a bad thing – property is expensive and it’s perfectly normal for an investment of this size to require long-term financial planning.

That’s what mortgages are all about.

Banks and lenders provide individuals with the option of borrowing money in order to afford a property purchase. But how do you know what kind of lending agreements are out there? The most obvious course of action is to head to your bank. But let’s not be hasty. Banks can only provide you with access to a small slice of the mortgage pie. A qualified mortgage broker, on the other hand, can connect you with lenders of all shapes and sizes, including trust companies, chartered banks, credit unions and private funds.  Continue reading →

How to Break Your Mortgage Without Breaking the Bank

Interest rates are low, and from the looks of things, should remain stable well into 2012. If you’re currently paying out the nose because you’re locked into a fixed-rate mortgage, now could be a good time to break your mortgage and refinance your rate. Unfortunately, trying to break a mortgage before your term is up can be a nightmare experience. The penalties for bailing early can be high, so don’t be rash with your decision. Consult with a mortgage broker before you dive in head first. Continue reading →

How Much Does Mortgage Insurance Cost?

As a first-time homebuyer, chances are you’ve never heard of mortgage default insurance. More often than not, it isn’t until you’re sitting across from your lender that you learn about this expensive requirement. You see, in order to qualify for certain types of mortgage products in Canada you are required to be “insured”. While most insurance products are designed to protect your dependants in the case of an unexpected accident, mortgage default insurance actually protects your lender if ever you are unable to make your mortgage payments. It’s a strange concept for many property virgins, but one that should be discussed early in the homebuying process. Continue reading →

How to Avoid Major Home Buying Errors

Housing affordability continues to remain stable across Canada, creating the perfect environment for savvy home hunters. With more houses available on the market, buyers are becoming much more competitive, rushing to complete their purchase agreements. Situations like this often lead to costly buyer errors, as anxious home hunters make hasty, uninformed choices. These mistakes are sometimes impossible to reverse, so be careful.  Continue reading →

CAAMP Releases Highlights From Fall 2011 Consumer and Industry Surveys

The focus of these surveys was to gather Canadians’ opinions of the mortgage industry. The report includes specific questions on experiences with their mortgage professional as well as information and feedback from industry members.

The survey results were presented by Maritz Research at Mortgage Forum 2011 in Toronto.

Click here to review the entire report.