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Confused about mortgage financing for a rental property?
Investors who consider adding real estate assets are often confused about their mortgage financing options. Many investors who put 15 per cent down use an insured mortgage, but the cost of the insurance premium can be high. Even so, not all investors can meet the strict requirements that go along with an insured mortgage on rental property.


Using a mortgage to manage your debt and improve your credit
What if there were a magic card that you could carry with you, with the power to open doors you all over the world? A good credit rating is a little like that- a passport to financial opportunities. The other hand, a poor credit rating can be a terrible obstacle, and repairing your credit is often a slow and difficult process.


Don't let the thrill of buying your new home be dampened by not considering the property taxes
Property taxes are one of the major ongoing costs to consider when purchasing any new home. It's a good idea to start off on the right track by deciding which method of payment is right for you and your budget.


A mortgage that gives the self-employed credit for great credit
A large and growing segment of Canadians are taking advantage of flexible or unconventional employment opportunities. In fact, the self-employed now represent close to 16% of the country's workforce. Today's generation of contractors, freelancers, consultants, commission sales professionals and small business owners have come to value independence in their day-to-day work. Now, that entrepreneurship is no longer penalized when it comes to mortgage financing.


How can mortgage rates be going up when prime is coming down?
Now just imagine the family dinner conversation where your brother or sister declares utter confusion at how the prime rate could drop on the same day that rates went up for fixed mortgages. This just doesn't make sense… or does it? This article clarifies how fixed-rate and variable-rate mortgages are priced and you'll see the difference.


Thinking ahead - First time home buyers can use RRSP contributions to buy down mortgage debt
Like many Canadians, you may be wondering what you can do to reduce your annual tax burden. While it may be a little too late to alter the outcome of your 2004 tax year, you can definitely start arranging your finances in such a way that you will have more after-tax income in 2005.


Is a "zero" down payment mortgage right for you?
With highly intense competition in today's mortgage marketplace, financial institutions are coming up with even more innovative ways to attract customers than they have in the past. We have been offered cash back on our mortgages and even points that will earn us free flights or merchandise. We have seen mortgages for the self-employed, assuring us of an easier application process.


Getting a mortgage for self-employed / commission workers
Self-employed borrowers and commission sales people normally do not have the same income stability that regular salaried workers in Canada have. This segment of the Canadian labor force can apply for a regular mortgage to finance or refinance a home but the process is onerous and typically may result in higher interest rates.


I've applied for a mortgage, what's happening?
If your offer to purchase contains the clause" subject to financing" a lender would normally require from 2 to 5 business days to process the mortgage application. You may receive an provisional O.K within hours, depending on your circumstances, however the lender will still need to verify the information provided and evaluate the property.


Moving Day - The very last box you should pack
Even the best move can cause problems, and more often than not, those problems arise on the first day in the mover’s new home.Anyone who’s experienced a move knows the problems that can be encountered children can’t or won’t go to sleep without a favorite toy, someone needs a particular medication, or you can’t find basic toiletries. After all, everything you own is packed up in boxes, and finding the exact location of small items can be a real challenge, particularly after a long, strenuous moving day.


Have you ever thought about investing in a private mortgage?
Investing money in a private mortgage for attractive returns has its merits and its risks. This type of investment is one in which a person lends money to a borrower who pledges real estate as security for the loan. These types of mortgage investments may be arranged through a Mortgage Broker.


Pay your mortgage off faster and save thousands of dollars
One way of saving thousands of dollars on your mortgage is by switching your payments from monthly to weekly or bi-weekly using a rapid amortization calculation. Weekly or bi-weekly mortgage payments have been growing in favour with home owners across Canada and many institutions now offer these payment options. The fascination with more frequent payment options is that if they are done correctly you can take several years off your mortgage amortization and thus own your home free and clear years ahead of paying on a monthly basis.


Over-Extending Yourself Financially: The quickest way to destroy the excitement of owning your own home
Your dream home becomes a nightmare when you end up "house poor" with most of your money going to pay for the mortgage and little left over for enjoyment. When buying a home, you need to be practical and realistic. Over-extending yourself financially is the quickest way to destroy the excitement of owning your own home.


After months of house hunting, you've finally found the perfect home for you and your family. But, is it really the great investment it appears to be?

A shaky foundation, bad plumbing, poor insulation and many other problems can creep up on you after you've moved into your dream home. A home inspection can save you from these unpleasant surprises. It will help you determine the true value of your home and prepare you for future home maintenance costs. An inspection consists of a thorough evaluation of your home, from top to bottom. It includes an examination of major systems such as heating, air conditioning, interior plumbing and electrical systems.



Buying a new home may be the biggest investment you make in your life
When it comes to financing your purchase, you'll want to make sure that you make the choices that will suit your particular needs and budget, says the Greater Toronto Home Builder's Association. Banks, trust companies and other financial institutions are offering more ways to finance a new home purchase than ever before, with a wide range of options, features and services.


Home as an investment, Rent vs. Buy.
Everybody has to live somewhere. When you rent a home, your monthly payments go backward paying off somebody else's mortgage. When you buy, your payments go toward paying off your own mortgage. While you're acquiring a substantial capital asset, you're also getting security of tenure, low-cost accommodation for your retirement, control over your own living environment and pride of ownership.


Understanding how Term and Amortization work can save you lots of money
Everybody has to live somewhere. When you rent a home, your monthly payments go backward paying off somebody else's mortgage. When you buy, your payments go toward paying off your own mortgage. While you're acquiring a substantial capital asset, you're also getting security of tenure, low-cost accommodation for your retirement, control over your own living environment and pride of ownership.


Second mortgages - taking a second look
Second mortgages have always been perceived as an inferior option when it comes to financing a property. Most people think that you only take a second mortgage when you cannot get a bigger first. But, there are often times when a second mortgage is a lower cost option for a buyer than arranging a new first mortgage.


The Lawyers role when closing
Since buying or selling a home is a complex legal transaction, it's in your best interest to have someone with knowledge of the law working on your behalf. It is not a good idea to act as your own lawyer or use the same lawyer as the other person in the transaction.





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Home Ownership

Is a "zero" down payment mortgage right for you?

Getting a mortgage for self-employed / commission workers

I've applied for a mortgage, what's happening?

Moving Day - The very last box you should pack

As the weather warms up, will house hunting be your hot topic?

Have you ever thought about investing in a private mortgage?

Pay off your mortgage faster and save thousands of dollars

Over-Extending Yourself Financially: The quickest way to destroy the excitement of owning your own home

After months of house hunting, you've finally found the perfect home for you and your family. But, is it really the great investment it appears to be?

Buying a new home may be the biggest investment you make in your life

Home as an investment, Rent vs. Buy.

Understanding how Term and Amortization work can save you lots of money

Second mortgages - taking a second look

The Lawyer's role when closing