Selecting the length of your mortgage amortization period — the number of years it will take you to become mortgage free — is an important decision that will affect how much interest you pay over the life of your mortgage. While the lending industry’s benchmark amortization period is 25 years, and this is the standard […]
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Who Does It Protect? Mortgage life insurance is simply a life insurance policy on the homeowner which will allow their family or dependents to pay off the mortgage on their home should something tragic happen to them. This is not to be confused with mortgage default insurance, which lenders require to cover their own assets […]
Benefits of Using a Mortgage Professional There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, […]
Many people find that one of the easiest and most affordable ways to access money is through the equity that they have accumulated in their home. This is a very popular option, especially when you have an excellent first mortgage in place. Canadians purchase homes for a variety of reasons. Some want the stability of […]
Growing up in Victoria, I was raised to give back to my community wherever possible. I was on the receiving end of the volunteerism our beautiful city is known for in the form of coaches who guided me in team sports, fundraised to support these same teams, and generally made sure I was on the […]
So, you’ve finally decided to fulfill a lifelong dream and buy your own home… how exciting! You are ready to fulfill your dream of having a place to call your own. Buying a home is one of the biggest emotional and financial decisions you’ll ever make. Prepare by learning about the process of homebuying and […]