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Pros and Cons of Mortgage Refinancing

A significant drop in mortgage rates usually increases applications received by mortgage lenders. Mortgage refinancing is a procedure through which new mortgage payoff is attained in place of an existing mortgage. The new lease is usually an improved version with new terms.   The biggest reason for refinancing a mortgage loan is reducing monthly payment […]

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Buying a Condo or Property in Vancity

As market conditions in Vancouver are fluctuating every day, buyers are increasingly concerned. The Real Estate Board of Great Vancouver says that this April in 2018 saw a 17-year low for the month in buying trends. They said that homes and condominiums sold in Metro Vancouver registered a decline in value. Many more properties were […]

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How to Get a Decent Mortgage When You are Self-Employed

There are more and more self-employed people entering the Canadian market in recent years. The numbers have risen by over one million from 2001. Self-employment also means precarious earnings for many. With lack of steady income, it becomes harder for them to invest in a home. They are among the first to be refused by […]

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Brokers or Banks – Which one is better?

If you are looking to buy a home, you have to look at a bank or mortgage broker to help you with the funds. There are very few who can afford to buy a home without a mortgage. What is a mortgage?   Simply put, a mortgage is a loan that you borrow from a […]

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New Mortgage Rules for Canada

How Canada’s New Mortgage Stress Test Affects You Since January 1, 2018, all Canadians renewing or refinancing a mortgage are required to pass a stress test to prove that they can handle a 2% interest rate increase. 2% might not sound like much to some, but it’s a lot, particularly when dealing with homes that cost […]

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Can Canadians Deduct Mortgage interest from their Taxes?

Can Canadians Deduct Mortgage Interest From Their Taxes? The short answer for most Canadian homeowners is no. While our American neighbours get to claim interest on their mortgages as a tax deduction, the Canadian tax system simply does not allow it. There are exceptions, however, so read on to learn more. How Come Mortgage Interest […]

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Mortgage Refinancing: The Most Overlooked Financial Strategy

There was a time when dad went to work, mom stayed home to raise 4, 5, 6, 7 (or more) children on dad’s wage, and everyone lived comfortably in a nice house and drove a newer car. Times have sure changed! Inflation has driven costs higher, and it’s driven them faster than our wages have […]

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The Top 4 Questions That Mortgage Brokers Get Asked Every Day

In our office, we have a lot of people coming in or contacting us via email or phone about a mortgage. And we tend to get the same questions all the time (don’t worry, we love it!) So we compiled a little list of the top 4 questions we get asked all the time: Questions […]

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An Open Letter from a Mortgage Broker, For First Time Home Buyers

Dear Prospective Homeowner, I see you standing there in the lobby of a real estate brokerage, staring nervously at brochures and pointing excitedly at different houses. Your face is still awash with the gleam of possibilities. Right now, it’s about what your perfect home will look like. But there will be practical, financial matters to […]

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Debt Consolidation: Is It Right For You?

So, you’ve incurred debt that is proving difficult to get rid of and are thinking of debt consolidation to pay it off. If you have racked up some credit card debt, or taken a loan to go back to school but found that jumping back into the job market has taken a bit longer than […]

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