Best Mortgage Broker Toronto
How Much is Alternative or Private Mortgage Cost?
Alternative or Private mortgages come with fees and costs, like lender fees, mortgage administration fees, mortgage broker fees, appraisal, and legal costs. Lender fees are variable from lender to lender as well depend on lending terms. Lender fees are usually in the...
What are Interest Rates on Alternative/Private mortgages?
Private or alternative mortgage lenders base their rates on the area, location, type of property, degree of risk perceived and estimated costs of administration. Each private mortgage interest is quoted on individual circumstances. But one is certain, your mortgage...
What are Alternative or Private Mortgages?
Private or alternative mortgages are funds that originate from private individuals, mortgage investment companies (MICs) or mortgage finance companies (MFC) who lend out for investment purposes. Private or alternative mortgage providers are willing to lend money out...
Why Can Your Mortgage Application be Denied?
What are the reasons why your mortgage application might have been denied? Banks and other traditional lenders have strict regulations and criteria to follow when approving mortgages to the potential borrowers who apply with them. When you apply, some of the major...
Offset Mortgage
An interest offset mortgage combines saving account deposits and a mortgage in one line of credit account.Each month, the lender looks at how much you owe on the mortgage and then deducts the amount you have in savings. You pay mortgage interest just on the difference...
What Type Of Mortgage Is Right For You?
Conventional, high-ratio or alternative mortgage? Fixed or variable rate? Open or closed? They’re all questions you’ll have to answer as you evaluate your options and choose a mortgage to meet your needs. Whether you’re about to buy a new home or your mortgage is up...
How Do Mortgages Work?
All mortgages work in the same basic way: you borrow money to buy a property, pay interest on the loan and eventually pay it back. There is a lot to consider before you decide which mortgage is best for you and your circumstances: Interest rates Different ways to...
Different Types of Mortgages Explained
What is a Conventional Mortgage? The term conventional mortgage refers to a mortgage that does not carry any form of high-ratio or lender insurance premium. A conventional mortgage means your down payment is 20% or more of the property’s value. With a conventional...