What is an Equity Based Mortgage? Equity Based Mortgages allow borrowers to use some of their existing equity as collateral for the loan. This type of loan is beneficial to those who have built up equity in their home and are looking for a way to access it. The borrower can choose to
An insured mortgage is a type of home loan in which the lender is protected against loss if the borrower defaults on the loan. to opt into an insured mortgage, generally your down payment would be under 20% and as low as 5% for first time home buyers. Usually mortgage insurance is provided by
What is the difference between an insured mortgage and an uninsured mortgage? An insured mortgage is one where the lender has insurance to protect them in case the borrower defaults on the loan. An uninsured mortgage is one where the lender does not have this insurance. Generally speaking, an insured mortgage will have a
Many people in Canada turn to home equity loans when they need money for a large purchase or project. If you're considering a home equity loan, it's important to understand the risks involved, as well as the potential benefits. some potential benefits to taking out a home equity loan. For one, the interest rates on
When it comes to home buying, the landscape of high prices for properties in Ontario seems to be the only option for you. But first time buyers are still successful in the Ontario housing market every day. In 2021, the annual average price rose by nearly 20% in Ontario and nearly half the buyer base
Before buying an investment property, it is important to understand the differences between purchasing a home and an investment. An investment property typically requires more research, due diligence and financial planning. Before starting your search for an investment property, you should take time to research the market to determine what type of property will
If you're a first time buyer, getting a mortgage is one of the most important financial decisions you'll ever make. But it doesn't have to be complicated or stressful. Here's everything you need to know about getting a mortgage as a first time buyer. The first thing you need to do is figure out
Are you looking to buy your first home? If so, you're likely wondering how much money you'll need for a down payment. It's important to know this amount before you start house hunting, as it can help you narrow down your search results. In this blog post, we will provide an overview of the
A reverse mortgage is a loan available to Canadian homeowners age 55 or over. It allows them to access a portion of their home equity to help cover expenses, make home renovations, or simply improve their quality of life in retirement. How does reverse mortgage work in Canada? A reverse mortgage works
If you're a Canadian with bad credit, you may still be able to get a mortgage. Here are some options available to you. A bad credit mortgage is a mortgage for people with bad credit. There are many reasons why someone might have bad credit, such as: Missed payments on debts A history of
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