Monthly Archives: Monday October 31st, 2016

Should I choose monthly or weekly payments?

Monday October 31st, 2016

Should I choose monthly or weekly payments?

You have just completed the mortgage approval process, and the inevitable question from your mortgage broker or bank adviser crops up: do you want to make weekly or monthly payments? If you answer weekly payments (my suggestion!), be aware that your choice doesn’t end there. First of all, there is a big difference between an […]
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Refinancing a property can be advantageous.

Monday October 24th, 2016

Refinancing a property can be advantageous.

Certain situations make it worthwhile to refinance your property: To maximize your RRSP in the framework of a plan drawn up by a financial planner; To finance a project at a lower cost (lower interest rates) such as; Purchasing a motor vehicle Renovating a home Installing a swimming pool Changing the windows Installing a heat […]
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To avoid unpleasant surprises, do an annual review.

Monday October 17th, 2016

To avoid unpleasant surprises, do an annual review.

Have you thought of doing a yearly review of your mortgage in order to avoid any payment shock if interest rates increase? It’s really quite simple. On each anniversary of your mortgage, compare your rate with the available rates on the daily market (just click on the link below to access today’s rates). If your […]
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Important changes in the rules regarding mortgage financing effective October 17

Friday October 7th, 2016

Important changes in the rules regarding mortgage financing effective October 17

On Monday, October 3rd, the Finance Minister of Canada announced a major change to the rules of mortgage financing, which will affect all clients currently in the process of purchasing a new home Below is an excerpt of the press release published by the Finance Minister of Canada: “Bring consistency to mortgage insurance rules by […]
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Don’t forget the additional fees!

Monday October 3rd, 2016

Don’t forget the additional fees!

Costs associated with the purchase of a property are not limited to the down payment and the mortgage. Here is a brief list of charges that will occur when taking possession of your home. You must plan for about 1.5% of the property purchase price to cover these charges. Insurance premium (Canada Mortgage and Housing […]
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