What do Canada’s New Mortgage Rules Mean for You?

Today the Canadian government announced a number of interesting steps to try and support the long-term stability of Canada’s housing market in an effort to encourage home ownership for Canadians.
The Government will adjust the rules for government-backed insured mortgages as follows:

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Warning: Are You Budgeting For These Mortgage Fees?

There are a bunch of miscellaneous fees that come with getting a mortgage known as closing costs.
Some of these fees may be negotiable and some are set.  They can cost thousands of dollars so it’s important that you budget for them appropriately.
Planning for these costs ahead of time will also remove any surprises or difficult [...]

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The Secret to Improving Your Credit Score

So you want to improve your credit score?
You may not realize how much money your credit situation is costing you.
If you have large credit card balances, too many credit accounts and have missed making some of your payments, you’ll probably have some strikes against your credit score.
The first thing you should do is make sure [...]

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What Everybody Should Know About Credit Scores

Want to determine what kind of mortgage deal you are going to be able to get?
You might be surprised to know that you began this process long before a mortgage loan was even on your radar.
Getting a great deal on a mortgage is not something any broker can just make happen.  The onus is on [...]

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The Truth About the “No Money Down” Mortgage

In the last half century, the idea of what a down payment looks like has changed dramatically.  In order for your parents and grandparents to come up with a down payment on their first property, they would have had to come up with 20% of the purchase price.
That’s a $50,000 down payment on a $250,000 [...]

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How To Get a Mortgage With No Down Payment

If you’re like most people, putting together a 20 percent down payment on the purchase price of a house or condo can often be difficult.
But the good news is you can still get a mortgage. The not-so-good news is there may be some extra fees involved.
If you’re unable to come up with 20 percent of [...]

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Is A Variable Rate Mortgage Right for You?

A floating-rate mortgage changes according to the current interest rate set by the Bank Of Canada.  This means the interest you pay each month can change based on the prevailing rate at the time.
The most common type of floating rate mortgage is the variable rate mortgage.
Understanding Variable Rate Mortgages
There are basically two types of variable [...]

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An Easy Guide to Fixed Rate Mortgages

When you think of something that is fixed, you think of something that is consistent, unchanging, and secure. 
And a fixed rate mortgage is exactly those things.
This is the main reason it appeals to so many people, despite the fact that overtime, studies show variable mortgages end up costing less.
Many people just find the peace [...]

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Which Types of Mortgages Are Available? (And Which One is Right For You)

No matter what kind of market exists, it has never been easier to buy a home.
By far the greatest benefits to all the mortgage options available today are flexibility and accessibility.  Previously, you had a save a 25% down payment and were limited to strict amortization options.
That’s not the case anymore.
This is why shopping for [...]

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