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MORTGAGES

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What is a mortgage?

What really is a mortgage? A mortgage is a loan secured by a piece of property. A bank or lender ...

What is mortgage insurance?

Mortgage Insurance Mortgage default insurance is a premium added onto mortgages if the buyer puts...

What is the difference between the amortization and the term?

Mortgage Amortization and term A mortgage amortization is spread over a longer period i.e.: 25 or...

Do I have to renew with the same lender?

Renewing your mortgage No. If your term is up, you should call your broker and see if the renewal...

How early can I renew my mortgage?

Renewing my mortgage With most lenders you can renew your mortgage up to 120 days before your ren...

What is a fixed rate mortgage?

Fixed Rate Mortgages A fixed rate mortgage is when you sign up for the same interest rate over th...

What does it mean to port your mortgage?

Porting your mortgage Porting you mortgage is when you take your current mortgage with you to a n...

How can I pay off my mortgage faster?

Become mortgage free If you’re looking to payoff your principal faster, depending on your lender,...

What is a variable rate mortgage?

Variable rate mortgages A variable rate mortgage is when your interest rate increases or decrease...

What is a reverse mortgage?

Retire with freedom A reverse mortgage is a mortgage that pays you! Pretty sweat, eh? Reverse mor...

Is a line of credit and a mortgage the same thing?

One is not like the other Lines of credit and mortgages have similarities and big difference's bu...

What is a purchase plus improvements mortgage?

Buying and renovating If you find a home that requires a lot of work to be done (mostly cosmetic)...

How does construction financing work?

Construction Mortgages Construction financing can look a bit different at each bank, but the proc...

What is APR?

APR or the Annual Percentage Rate is the total cost of the mortgage spread over the amortization ...

Do Mortgage Brokers get better rates?

Lower rates When working with a Mortgage Broker we have access to dozens of lenders which means w...

What is the disadvantage of using a Mortgage Broker?

You don't like saving money, having a direct contact and a personalized experience? Disadvantages...

Is it better to use a bank or a Mortgage Broker?

Bank vs Mortgage Broker In our eyes, it's a simple answer. Clients want someone who is working fo...

How long is the average mortgage in Canada?

Canadian Homeowners On average, it takes a Canadian about 20-25 years to payoff their full mortga...

What types of mortgages are there available to me?

choose the right fit There are many different of mortgage available in Canada and it's important ...

What is a Bridge Loan?

Lets bridge the gap A Bridge Loan can also be known as Interim Financing . A bridge loan is typic...

Should I take a long term or a shorter term?

Time Flies When deciding on your mortgage term length, it is important to consider these factors....

Ready to dive in? Let's start your mortgage-free plan today.
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