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  • Mortgage tips: How to get downpayment for your mortgage - hypotheque.
    There are many different ways to obtain a down payment for your property. There are the standard, usual ones, but there are others that most people don’t know about but I have learned about over the many years I have been advising my clients regarding their mortgages. Basically, there are three methods - hypotheque:
  • Is it better to make your mortgage payments weekly, every two weeks, or monthly? - hypotheque
    The more often you make the payments, the more savings, even if you do not increase the amount paid. If it is possible, make your payments each week, if not, pay your mortgage every two weeks - prêt hypothécaire.
  • How to choose the right mortgage strategy? - pret hypothecaire
    All of this points to only one thing-you really need a professional who is looking out for your best interests in order to find the perfect mortgage loan strategy. The advantage of this approach is that you will learn a lot about your situation and the economy, and this education is all free!
  • The most common situations that lead to a penalty (taux hypothecaire)
    No borrower feels that it is fair to pay a penalty on his mortgage. However, except for some unusual types of open mortgages, all mortgages have prepayment penalties. This is a complicated subject, requiring detailed explanations and can usually be better understood with examples.
  • All about Mortgage Penalities (hypotheque)
    No borrower wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some unusual types of open mortgages, have penalties for prepayments. The question of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them.
  • How are calculated Mortgage Penalities (hypotheque)
    No one wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some rare types of open mortgages, have penalties for prepayments. The subject of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them.
  • Morgage Strategy - Variable Mortgage strategy (hypotheque)
    The interest rate of a variable rate home loan changes with the base rate of the large Canadian banks. The lender does not give you a fixed rate, but rather a rabais on the base rate. This is the reason that variable rates are expressed as a base rate less a percentage.

    If the base rate, for example, is 6.00%, and the bank quotes “base rate minus .90%”, this means that the variable rate loan will be 5.10% for the length of time that this base rate is in effect. If the base rate is lowered by the Bank of Canada, the loan rate is likewise lowered: a new base rate of 5.25% will mean a variable mortgage rate of 4.35% for that period. The Bank of Canada fixes this rate 8 times per year. Note that this rate may be refixed at the same rate (no change), so the base rate does not necessarily have to change 8 times a year.
  • The fears of mortgage lenders.
    Once you understand what mortgage lenders don’t want to face, you will better understand whether or not your application will be viewed in a good light by the mortgage lenders you apply to - taux hypothecaire.

    A lender has two big fears:
    - Losing Time
    - Losing money.
  • What’s best to work with, with a mortgage broker, a mortgage marketer, or a bank representative?
    Of this you can be sure: the expertise and integrity of whatever advisor - taux hypothecaire you work with will make a big difference. Yes, there are expert local bank branch representatives, expert mortgage marketers and expert mortgage brokers. And then, there are many who do not fully understand this field.
  • Should you work with a mortgage broker, a mortgage marketer, or a bank representative?
    No matter what, it is the integrity and expertise of your mortgage consultant that will make the most difference. There are very good local bank branch representatives, very good mortgage marketers and very good mortgage brokers. Of course, there are very bad ones as well. It is the individual in the position who will make the most difference in the long run - taux hypothecaire.
  • The expertise of your mortgage advisor
    This new development allows mortgage advisors to concentrate on a certain field and thoroughly understand all of the complications of their field. I believe that more and more mortgage advisors will start to specialize in this manner as the market becomes more competitive. Finding a speciality like this will improve their competitiveness - courtier hypothécaire.
  • The integrity of your mortgage advisor
    Integrity is said to bethe quality of an honest person, who is not able to be corrupted and who behaves in a manner that is above reproach. Is the home loan broker you are going to work with have this quality, so that he can put your interests before those of his bank? Make sure the answer to this question is YES - courtier hypothecaire.
  • Choosing a home loan consultant.
    It is not very difficult to find a good mortgage counselor. Just as you would hire someone to work for you, think of your mortgage counselor as a good employee who will be with you in the future. He should be, because he will be there to help you save money over the next 15 or 25 years - courtier hypothecaire.

    Important factors to think about when you are looking for a good mortgage broker:
  • How do you obtain a down payment for your mortgage – prêt hypothecaire?
    When you apply for a home loan, one of the most important issues the bank will look at is whether you have a down payment and how much it is. Even a small one will have an influence on the loan - hypotheque.

    You can obtain a down payment in a lot of different ways. Some are fairly standard ones and others are ones you may not know about, but I have learned of over the many years I have been helping people obtain their mortgages. There are basically three ways - hypotheque:
    -Your own funds
    -A gift from a relative
    -Funds obtained from other people or in a different way.
  • The tax deductible mortgage strategy (Smith Maneuver)
    Through the use of a specialized mortgage strategy called the Smith Maneuver, you can achieve all of these goals. And you can do them all together! - taux hypothécaire

    This kind of mortgage strategy is named for its developer, Fraser Smith. Mr. Smith is a financial planner in British Colombia who developed this interesting strategy a few years ago. I was fortunate enough to be one of three mortgage consultants from Quebec to meet Mr. Smith when he spoke on this topic in Toronto.
  • Does paying your mortgage weekly or every two weeks really have an impact over paying it once a month? - hypotheque
    The more payments that are made, the more you will save on your mortgage, even if you do not increase the amount being paid. So, make your payment each week to get the most savings. If you can’t do this, at least do it every two weeks.
  • Is it a good idea to choose an open mortgage? (hypotheque)
    An open mortgage (taux hypothecaire) can be astrategicmortgage tool that can prevent high early payout penalties. It should, however, only be used if the chances are very high that the mortgage will be paid off in the next 12 months. If the mortgage is not expected to be paid off within that time frame (13 months or more) it is more advantageous to take the fixed rate home loan and pay the payout penalty.
  • The long term mortgage strategy - hypothèque
    Is taking out a longer amortized home loan the right thing for you?

    Of course you don’t want to pay off your mortgage (hypotheque) more slowly, and end up paying more interest on your home loan. Most people still opt for the traditional 15 to 25 year paydown schedule.
  • How to choose the mortgage strategy that is best for you? - prêt hypothécaire
    All of this points to only one thing-you really need a professional who is looking out for your best interests in order to find the perfect home loan strategy. The advantage of this approach is that you will learn a lot about your situation and the economy, and this education is all free!
  • Why do mortgage brokers work for their clients and not for lenders? (courtier hypothecaire)
    A mortgage broker (courtier hypothécaire) will earn his livelihood by the fees he is paid. They want to build up a satisfied client base so that their reputation, and therefore the amount of business (and commissions) will get bigger.
  • Mortgage Strategy – The “5 by 5” strategy (renew 5 times a 5 years fixed mortgage prêt hypothecaire)
    What exactly is the “5 by 5” strategy? As you may be able to tell from the name, it means you take a mortgage out on your home for five years, at a fixed rate, and then you renew it at the end of the five year period. If you visit any bank or call any mortgage consultant(courtier hypothecaire) and ask for the best mortgage rate they have, they will routinely give you the rate for the five year fixed rate mortgage, even if you did not indicate that kind of loan.
  • How is established the revenue of your -consultant hypothecaire-home loan consultant?
    We all need to be paid for our efforts, and mortgage consultants are no different. They are paid by the lending institutionfor securing the loan forthem. The amount of the home loan is what determines the commission the consultant (Intelligence Hypotheque) will earn. The larger the loan, the higher the commission, (the commission on a $200,000 loan is twice as high as the commission on a $100,000 loan) not, the higher the rate, the larger the fee.
  • How to save money on your mortgage (hypotheque)?
    Much more important than just relying on interest rates as the determining factor in choosing your home loan (prêt hypothécaire) is choosing the right mortgage strategy. There are many mortgage strategies that can be used to manage your mortgage costs over the life of the loan. Choosing the right strategy is much more critical in determining costs over time than just using the interest rate as a gage.
  • How to beat the lowest home loan rates(taux hypothécaire)
    Want to save money on your mortgage (hypotheque)? What you really want is a good home loan strategy. Consulting a mortgage advisor (courtier hypothécaire) can make you save up to 20 times more over the entire life of the mortgage.
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