Choosing the mortgage that's right for you involves a little bit more than merely deciding whether you're a fixed or variable type of person - particularly if you opt for a variable rate mortgage.
It's not enough to choose a variable rate mortgage based solely on rate - you also have to consider what type of variab...
Read MoreA home inspector is an invaluable resource to ensure your dream home isn't actually a money pit. But not all home inspectors are created equal - and some are much more thorough than others. So how do you find a good one? Being proactive - with a list of questions in your back pocket - will help a lot. Below are a few to get you started:
1. How many homes do you inspect each year? A fu...
Read MoreFor years, major banks have typically advertised mortgage interest rates higher than their bottom line, best rate. Depending on a customer’s credit history and debt ratio, there was still room to negotiate a lower rate. According to the Canadian Association of Accredited Mortgage Professionals, in 2011 the average Canadian’s discount on a 5-year fixed term was 1.46 percenta...
Read MoreBy Heather Grummett
There’s a lot to think about when purchasing a home and perhaps the last thing on your mind is to consider what you may be doing five years from now. However, looking ahead should definitely be something to think about, and then try to choose a mortgage product that best suits your goals.
“Over half of Canadians break their mortgage before the end of their five year...
If you're in a hot sellers' market, it can be tempting for home buyers to put in more attractive offers by waiving the all-important home inspection.
While it's a risky endeavour, many home buyers justify it by saying that home inspections can't catch every problem anyway. There's a bit of truth to this thinking - all one has to do is watch a couple episodes of Holmes on Homes to get ...
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Read MoreAs you may have noticed, BMO currently has an aggressive marketing campaign promoting their 2.99% ‘low rate mortgage’. This mortgage product was launched on March 2nd, 2010, and BMO seems to be putting more advertising dollars into this product, than ever before. They are advertising it as “Mortgage of the year” since CanadianMortgageTrends.com name the ‘low rate mortga...
Read MoreThere's nothing better than buying a brand new home. Not only does a new build award you the opportunity to put your own stamp on things - with your own choice of finishes and upgrades - but you also have the luxury of being the very first to experience that new house smell.
Buying a new home, however, is differ...
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