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There are many stresses associated with home buying – both financial and emotional. And frankly speaking, it doesn’t help that the process comes with its very own foreign language. While your mortgage broker can help de-mystify these terms, it helps to have a bit of a primer on what some of these terms mean. After all, it’s your money and your home we’re talking about; as a Mortgagor, you have a right to understand what you’re Read the rest of this entry »

It can be a headache searching for the right mortgage. There are over 8500 mortgages on the market so it’s a tricky business. You might conduct a mortgage search on the internet, or via a large high street lender, or with a mortgage broker or advisor. Mortgage advisor can range from single individuals to large organisations with a number of advisors.

When you do conduct a mortgage search you will be asked a n Read the rest of this entry »

Despite recent turmoil in financial markets, and trouble for the UK’s fifth largest mortgage provider Northern Rock, there is no shortage of companies offering mortgage quotes. One of the questions you will often be asked when you’re at the cashiers in the bank is whether you’ve got a mortgage, followed by when your mortgage is up for renewal and if you would be interested in a quote for a mortgage. There are over 8,000 m Read the rest of this entry »

Forget everything you thought you knew about the benefits of taking a variable-rate mortgage instead of locking in for the long term.

A new study suggests the security of a five-year mortgage costs little or nothing beyond a riskier variable-rate mortgage, providing you get a jumbo-sized rate discount.

“Interest costs on discounted closed five-year mortgages have been close to, an Read the rest of this entry »

Question: “What’s the biggest financial investment most Canadians will ever make?”

Okay, that may have been an easy one if you read the headline of this column. For most Canadians, their home is their biggest investment – and their most powerful financial tool.

It’s odd – given the importance of the mortgage decision – that many homebuyers will spend much more time deciding on whi Read the rest of this entry »

Mortgage brokers are blossoming in the current environment and are gaining an increasing share of the mortgage market. This is great news because you should consult with a mortgage professional when you’re making one of the most important financial decisions of your life. But, keep in mind, that not all mortgage brokers have the same level of training and experience.

That’s why it’s such great news for Canadian Read the rest of this entry »

“A penny saved is a penny earned”… or so the old proverb goes. Of course, the value of a penny has changed somewhat from the time when your mother offered her wisdom on the value of keeping what you earn. Today, you could save thousands of dollars by simply making the right mortgage decision. If you’re like most Canadian homeowners, your mortgage is a goldmine of potential savings.

In the past few articles, w Read the rest of this entry »