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Category: Mortgage Tips & Advice (93 posts)

  • October 13, 2018 @ 5:13 PM
  • Posted by Marc Crossman

Setting Up Your HELOC

  A Home Equity Line of Credit or HELOC, can be one of the greatest gifts you give yourself. Borrowing money against your home as you accumulate equity through a shrinking mortgage or

  • October 13, 2018 @ 5:07 PM
  • Posted by Marc Crossman

TOP 5 THINGS TO CONSIDER WHEN BUILDING YOUR NEW HOME

  Building a new home – It’s something that many couples dream of. It can be an exciting, stressful, joyful, crazy time period that many walk away from saying “never again&rdqu

  • October 13, 2018 @ 4:53 PM
  • Posted by Marc Crossman

WHICH REALTOR SHOULD YOU USE?

  Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 5

  • July 24, 2018 @ 3:40 PM
  • Posted by Marc Crossman

9 REASONS WHY PEOPLE BREAK THEIR MORTGAGES

  Did you know that 60 per cent of people break their mortgage before their mortgage term matures?   Most homeowners are blissfully unaware that when you break your mortgage with your len

  • July 24, 2018 @ 3:34 PM
  • Posted by Marc Crossman

BREAKING A MORTGAGE – CAN YOU DO IT?

  Do you have a mortgage? So do I! Looks like we have something in common. Did you know that 6 out of 10 consumers break their mortgage 38 months into a 5-year term? That means that 60% of consu

  • June 8, 2018 @ 1:52 PM
  • Posted by Marc Crossman

MORTGAGE TERMINOLOGY YOU NEED TO KNOW

  Prepayment, Portability and Assumability   Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thi

  • June 8, 2018 @ 1:40 PM
  • Posted by Marc Crossman

KEEPING YOUR CREDIT SCORE HEALTHY

  If you haven’t seen your credit score, you’re not alone.   Many of our clients don’t know about their credit score or even know what it is when we first meet with them

  • April 22, 2018 @ 3:45 PM
  • Posted by Marc Crossman

OPTIONS FOR MORTGAGE PAYMENTS

Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments.   Most people want to pay off their mortgage as quick as possibl

  • April 6, 2018 @ 11:43 PM
  • Posted by Marc Crossman

WHAT ARE ACCELERATED PAYMENTS?

  An accelerated payment is a mortgage payment that is increased slightly so that you can pay off your mortgage faster. There are two common types of accelerated payments: bi-weekly and weekly.

  • April 6, 2018 @ 11:37 PM
  • Posted by Marc Crossman

TIME FOR A MORTGAGE RENEWAL

  Is your mortgage coming up for renewal this year?   There is a good chance that you or someone know has a mortgage coming due. Some 47% of Canadians, almost one out of every two househo

  • April 6, 2018 @ 10:49 AM
  • Posted by Marc Crossman

6 REASONS TO GET A HOME INSPECTION BEFORE YOU BUY

  In an active housing market sometimes buyers are urged by their realtors to make an offer with no conditions. As a mortgage broker this always makes my heart skip a beat. I know from experienc

  • April 6, 2018 @ 10:44 AM
  • Posted by Marc Crossman

SELF-EMPLOYED? HERE’S WHAT YOU NEED TO KNOW ABOUT MORTGAGES

  Why, why, why it is so challenging for entrepreneurs to obtain a mortgage in Canada? If you’re among the 2.7 million Canadians who are self-employed, regrettably your income is not as e

  • March 7, 2018 @ 12:42 PM
  • Posted by Marc Crossman

MAKING SMARTER DOWN PAYMENTS

  Mortgage Insurance Premiums. Many people know what they are- an extra cost to you the borrower. But not many people realize how they are calculated. Understanding the premium charges and how t

  • February 28, 2018 @ 10:03 AM
  • Posted by Marc Crossman

FIXED VERSUS VARIABLE INTEREST RATES

  Fixed Interest Rates This is usually the more popular choice for clients when it comes to deciding on which type of interest rate they want.   There are many reasons why, but the

  • February 16, 2018 @ 11:15 PM
  • Posted by Marc Crossman

6 HOME PURCHASE CLOSING COSTS

  When you purchase your home, there are 6 additional costs to account for. They include:   Home Fire and Flood Insurance Title Insurance Legal Fees Adjustments Land Transfer Tax G

  • January 23, 2018 @ 9:59 AM
  • Posted by Marc Crossman

WHAT IS A PROPERTY ASSESSMENT VS A HOME APPRAISAL?

  It’s the time of year when many homeowners are getting their property assessments.   The real estate market is the single biggest influence on market values. Market forces vary fr

  • January 2, 2018 @ 1:11 PM
  • Posted by Marc Crossman

WHAT HAPPENS WHEN A HOME SALE FALLS THROUGH?

  Every homebuyer eagerly anticipates closing day. With the home purchase process completed, ownership of the property transfers from the seller to the buyer – you! Closing date is negoti

  • December 29, 2017 @ 1:16 PM
  • Posted by Marc Crossman

BANKS & CREDIT UNIONS VS MONOLINE LENDERS

  We are all familiar with the banks and local credit unions, but what are monoline lenders and why are they in the market?   Mono, meaning alone, single or one, these lenders simply prov

  • December 21, 2017 @ 11:25 AM
  • Posted by Marc Crossman

CONSTRUCTION MORTGAGE PART 1 – SERVICED VS UNSERVICED LOTS

  On several occasions we have had people ask us at Dominion Lending Centres about construction mortgages. Every lender has their own guidelines and rules when it comes to construction mortgages

  • December 19, 2017 @ 2:12 PM
  • Posted by Marc Crossman

5 COMMON MISTAKES WHEN SHOPPING FOR A MORTGAGE

    Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process:   1. Thinking banks ar

  • December 15, 2017 @ 11:46 AM
  • Posted by Marc Crossman

MORTGAGE BROKERS ARE SUPER HEROES

  Mortgage brokers have a reputation as superheroes. Although we cannot leap tall buildings in a single bound we can do extraordinary things. Is the down payment money coming from outside of Ca

  • December 5, 2017 @ 10:45 PM
  • Posted by Marc Crossman

3 MORTGAGE TERMS YOU NEED TO KNOW

  Prepayment, Portability and Assumability   Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thi

  • December 1, 2017 @ 4:23 PM
  • Posted by Marc Crossman

GETTING ON THE PROPERTY LADDER

  As property prices continue to rise across Canada, the conversation around “how to climb the property ladder” has made a subtle shift to “how to get on the property ladder in

  • November 25, 2017 @ 1:18 PM
  • Posted by Marc Crossman

ADDITIONAL FINANCING WITH A “BLEND AND EXTEND” MORTGAGE

  Prepayment Privileges   You need additional financing. Do you prepay your existing loan? We remind readers that commercial mortgage borrowers do not enjoy the privileges afforded person

  • November 17, 2017 @ 12:25 PM
  • Posted by Marc Crossman

MORTGAGE PAYMENT OPTIONS… WHICH IS THE BEST OPTION FOR YOUR SITUATION?

    Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments.   Most people want to pay off their mortgage as

  • November 16, 2017 @ 1:59 PM
  • Posted by Marc Crossman

MORTGAGE INSURANCE 101

  When you purchase a property, you may be a little overwhelmed by all the insurance offers related to the purchase of said property. Mortgage Insurance, Condo Insurance, Mortgage Default Insura

  • November 15, 2017 @ 10:57 AM
  • Posted by Marc Crossman

I’VE NEVER HEARD OF THAT LENDER BEFORE

  One of the benefits of working with an independent mortgage professional; compared to getting your mortgage through a single institution, is choice. And as there are even more mortgage rules c

  • November 7, 2017 @ 3:21 PM
  • Posted by Marc Crossman

5 SIMPLE STEPS TO OWNING YOUR OWN HOME

  Often, the route to owning your own home can seem like a trip to the moon and back.   Really though, it comes down to five key steps:   1 – Manage your credit wisely.If the

  • October 13, 2017 @ 11:45 AM
  • Posted by Marc Crossman

WHAT IS AN INTEREST RATE DIFFERENTIAL (IRD)? HOW DO YOU CALCULATE IT?

  A mortgage in its simplest form is a contract. It has terms, conditions, rights and obligations for you and the lender. When you sign on the dotted line, you are agreeing to those terms for th

  • October 11, 2017 @ 12:04 PM
  • Posted by Marc Crossman

Lessons from the Ashes: The Fort McMurray fire

  The Fort McMurray fire and subsequent reconstruction demonstrates the necessity—but also the limitations—of home insurance in the face of natural disasters Tuesday, May 3, 2016, i

  • October 6, 2017 @ 11:26 AM
  • Posted by Marc Crossman

TIME TO LOCK IN YOUR RATE? MAKE SURE YOU HAVE AN EXIT STRATEGY

  Like many of you, I received a call last week, from my mortgage provider, asking whether I wanted to “lock in” a new five-year fixed rate. The rate was a special offer and would on

  • September 29, 2017 @ 9:37 AM
  • Posted by Marc Crossman

PAPERWORK YOU MUST KEEP

  As a mortgage professional there are things I wish more people were aware of which is why we are going to take a look into the paperwork we all need to hold onto to avoid frustration or even a

  • September 26, 2017 @ 11:31 AM
  • Posted by Marc Crossman

CREDIT SCORES: HERE’S WHAT YOU NEED TO KNOW

  The interest rate you pay on loans for every major purchase you make throughout your lifetime depends on various factors, and is dependent on your creditworthiness – everything from the

  • August 31, 2017 @ 12:46 PM
  • Posted by Marc Crossman

EMOTIONAL HOMEBUYERS CAN LOSE OUT ON THE BEST DEALS

  Buying a home is financial decision, but also an emotional experience.   Before we’ve explored every room, we often start imagining our new lives there. Where our furniture will g

  • August 23, 2017 @ 5:13 PM
  • Posted by Marc Crossman

HOW TO RENEW YOUR MORTGAGE IN 5 EASY STEPS

  If you have a mortgage, chances are unless you win a lottery (cha-ching $$$) you’ll be doing a mortgage renewal when your current term has finished.   While most Canadians spend a

  • August 2, 2017 @ 11:55 AM
  • Posted by Marc Crossman

UNDERSTANDING HOW BRIDGE FINANCING WORKS

  Sometimes in life, things don’t always go as planned. This could not be truer than in the world of Real Estate. For instance, let’s say that you have just sold your home and purcha

  • July 31, 2017 @ 11:44 AM
  • Posted by Marc Crossman

FIVE POINTS TO CONSIDER BEFORE YOU LIST YOUR HOME

  There are several things to consider before you take the plunge and put your home up for sale. This might sound obvious, but the first step is to call your mortgage broker, not your lender d

  • June 6, 2017 @ 10:24 PM
  • Posted by Marc Crossman

MR. MORTGAGE BROKER, PLEASE GIVE ME THE BEST RATE!

In the past, it was easy to give our clients the best mortgage rate available. Unfortunately, new government regulations have created a fragmentation of interest rates that make “giving you our

  • June 1, 2017 @ 12:03 PM
  • Posted by Marc Crossman

PURCHASE PLUS IMPROVEMENTS – YOU JUST FOUND YOUR DREAM HOME… SORT OF.

In a competitive real estate market or a market that is suffering from a lack of available listings, the Purchase Plus Improvements mortgage could be your saving grace. Regardless of whether you&rsquo

  • May 24, 2017 @ 12:59 PM
  • Posted by Marc Crossman

SELF EMPLOYED? 8 TIPS TO HELP YOU QUALIFY FOR A MORTGAGE

  Since 2012, it’s become the wild west of mortgage options out there for those folks who are living the Canadian dream of being Self Employed (also known as BFS, Business for Self).&

  • May 4, 2017 @ 10:57 AM
  • Posted by Marc Crossman

SPOUSAL BUYOUT MORTGAGE?

If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout y

  • April 6, 2017 @ 10:45 AM
  • Posted by Marc Crossman

HOW TO PROPERLY CALCULATE YOUR MORTGAGE

Calling all house hunters! We have a question for you—have you calculated what your mortgage will be? It is all too common for buyers to start house hunting before they truly know what their mor

  • February 17, 2017 @ 12:57 PM
  • Posted by Marc Crossman

FINANCING SOLUTION HOME EQUITY LINE OF CREDIT

The Home Equity Line of Credit (HELOC) lets you split up your mortgage debt and borrow against your equity at low rates.   The unique feature of this mortgage product is that you can slice the

  • February 9, 2017 @ 11:49 AM
  • Posted by Marc Crossman

FINANCING SOLUTIONS BRIDGE LOAN

The fast pace of buying and selling real estate is daunting. Throw in trying to manage closing dates, possession dates and access to the proceeds for the purchase and you have a recipe for disaster.

  • February 6, 2017 @ 11:14 AM
  • Posted by Marc Crossman

3 STEPS TO KEEP YOUR CREDIT IN CHECK

  If you have have overextended yourself with credit card debt, or have consolidated all of your consumer debt into your mortgage, or are at the point where you just want to cancel your credit c

  • February 3, 2017 @ 12:29 PM
  • Posted by Marc Crossman

WHAT DOES IT ACTUALLY MEAN TO CO-SIGN FOR A MORTGAGE?

There seems to be some confusion about what it actually means to co-sign on a mortgage and you know that where there is confusion, your trusted mortgage professional seeks to offer clarity. Let’

  • January 27, 2017 @ 12:10 PM
  • Posted by Marc Crossman

UPGRADING YOUR HOME: REFINANCE PLUS IMPROVEMENTS MORTGAGE OPTION

When it comes to mortgages and renovations it is important that you have your financing in place before you take the sledge hammer out of the garage! Lenders do not like coming into play half way thro

  • January 20, 2017 @ 1:22 PM
  • Posted by Marc Crossman

WHY SO MANY MORTGAGE DOCUMENTS?

Documents, documents and more documents. Yes that’s right you will need to provide your Dominion Lending Centres mortgage broker with as many documents that we request upfront as possible. Why?

  • January 9, 2017 @ 11:54 AM
  • Posted by Marc Crossman

Why your mortgage lender requires home insurance

Before you close on the sale of your new home, you’re going to need to get home insurance. Most lenders won’t give you a mortgage without proof of home insurance, so it’s something t

  • December 8, 2016 @ 9:27 AM
  • Posted by Marc Crossman

FINANCING OPTIONS FOR CONVENTIONAL BORROWERS

  To understand financing options for conventional borrowers – ask your Dominion Lending Centres Mortgage Broker.  In October 2016 the Federal Government announced some significa

  • November 30, 2016 @ 11:27 AM
  • Posted by Marc Crossman

SCISSORS! THE ULTIMATE TOOL TO FINANCIAL FREEDOM!

  Latest statistics indicate that Canadians are currently carrying over $450 BILLION in consumer debt!   Mortgage Brokers are often called in to help refinance someone’s&n

  • November 23, 2016 @ 11:06 AM
  • Posted by Marc Crossman

WHAT ELSE DID THE FINANCE DEPARTMENT CHANGE ON OCTOBER 17TH?

As the dust is settling on the major changes to the mortgage qualifying rate and it is back to work as usual, some Canadians are starting to realize that there were some other significant changes that

  • November 22, 2016 @ 12:04 PM
  • Posted by Marc Crossman

THE PERSONALITY OF YOUR MORTGAGE

Everyone knows that Mortgages come with a rate attached to them. But few know that each Mortgage Product has a PERSONALITY too!   The Personality of a mortgage product is a key component in sel

  • November 9, 2016 @ 2:43 PM
  • Posted by Marc Crossman

THINGS TO CONSIDER WHEN DECIDING TO BUY A FORECLOSURE

  When bad things happen to good people sometimes the reality is they just can’t keep up with their mortgage payments. While Canadian mortgage defaults are amongst the lowest in the world

  • November 3, 2016 @ 11:50 AM
  • Posted by Marc Crossman

BANK OR MORTGAGE BROKER?

Mortgages are like vehicles. A bank is similar to the brand, Ford or Toyota for example. How long you have a mortgage before it’s time to renew is like the model, a Fusion or Camry. The rate is

  • October 28, 2016 @ 11:59 AM
  • Posted by Marc Crossman

TOP FIVE HOME RENOVATIONS THAT INCREASE PROPERTY VALUE

Looking to increase your homes property value? Here are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investmen

  • October 7, 2016 @ 12:06 PM
  • Posted by Marc Crossman

5 REASONS A MORTGAGE BROKER IS YOUR BEST CHOICE

  So it seems that there are still Canadian consumers who have reservations or misunderstandings about why a mortgage broker is their best choice. Time to take a quick look at 5 reasons you shou

  • September 25, 2016 @ 9:50 PM
  • Posted by Marc Crossman

DOES 0.50% LESS REALLY SAVE ME MONEY?

  It doesn’t sound like a big number, but when you realize how interest is calculated you may be surprised. Interest on a mortgage is compounded semi-annually, this means the interested is

  • September 20, 2016 @ 8:42 AM
  • Posted by Marc Crossman

8 THINGS TO AVOID BEFORE BUYING A HOME

The following is a list of things you’ll want to avoid if you plan on purchasing a new home in the near future.   1. Don’t apply for new credit: It may seem natural to apply fo

  • July 26, 2016 @ 11:49 AM
  • Posted by Marc Crossman

HOW YOU PAY YOUR MORTGAGE PAYMENTS MATTER

Aside from paying a regular monthly mortgage payment there are other choices you’ll be presented with when approved for a mortgage. This article will explain the differences and benefits of chan

  • July 22, 2016 @ 11:09 AM
  • Posted by Marc Crossman

Things to consider when buying in a new development

  With plenty of activity in the real estate market and more new building slated over the next few years, here is my list of “Things to Consider When Buying in a New Development”. R

  • July 19, 2016 @ 12:30 PM
  • Posted by Marc Crossman

Renovate or Move

This is the great debate around many household dinner tables nowadays: improve or move? With all the attention the real estate market is getting these days in the local and national media, I’m s

  • June 29, 2016 @ 11:54 AM
  • Posted by Marc Crossman

Renovations and Space Saving Upgrade Ideas

  As the price of real estate in many areas of the Canadian market continues to rise, first-time buyers can find it increasingly challenging to find a house that fits their family. Growing famil

  • June 17, 2016 @ 11:49 AM
  • Posted by Marc Crossman

Divorce and What Can Happen With the Mortgage

  When tough times put stress on families sometimes the end result is divorce. While no one ever wants to see this happen sometimes it is inevitable. Recently, CMHC changed the rules about how m

  • May 30, 2016 @ 11:20 PM
  • Posted by Marc Crossman

WHY ARE LENDERS SO FUSSY ABOUT CRA?

  WHY ARE LENDERS SO FUSSY ABOUT CRA?   Sometimes it seems like we’re seeing more collections activities by the Canada Revenue Agency than we did 20 years ago.  Whether it is t

  • May 27, 2016 @ 11:12 AM
  • Posted by Marc Crossman

9 Tips To Improve Your Credit Score

An important rule of thumb to remember regarding credit is that YOU are your only advocate for your credit. YOU are the only one that can improve your credit. YOU are the only one that can manage any

  • May 3, 2016 @ 1:00 AM
  • Posted by Marc Crossman

Difference Between Fixed and Variable Rates

  The two most frequently asked questions I get are: 1. What are your best rates? 2. What is the difference between fixed and variable rates?   Question #1 is actually more co

  • April 27, 2016 @ 12:59 PM
  • Posted by Marc Crossman

Renovating May Make More Sense Than Buying

  If you’re finding your family has grown out of your current home or your house could use a makeover to better fit your changing needs, renovating is a great option to examine. Instead of

  • April 13, 2016 @ 11:31 AM
  • Posted by Marc Crossman

TOP 10 THINGS TO CONSIDER BEFORE YOUR MORTGAGE MATURES

1. Have you explored all your options. Once you receive your mortgage renewal statement, there is nothing easier than signing on for another term, heck 70% of everybody that received them fr

  • April 6, 2016 @ 8:40 AM
  • Posted by Marc Crossman

DO NOT DO THESE 10 THINGS WHEN YOUR MORTGAGE CLOSING

  Okay, so here we are… we have worked together to secure financing for your mortgage. You are getting a great rate, favourable terms that meet your mortgage goals, the lender is satisfie

  • March 30, 2016 @ 11:52 AM
  • Posted by Marc Crossman

COMPLETION VS DRAW MORTGAGES

If you are considering building a new home, then you need to be educated on the difference between draw and completion mortgages. When you meet with a builder, there is tons of terminology and informa

  • March 23, 2016 @ 9:09 AM
  • Posted by Marc Crossman

CO-SIGNOR OR GUARANTOR FOR A MORTGAGE?

If a buyer can’t obtain a mortgage due to poor credit, employment history, lack of down payment or income — most lenders will consider lending if there is someone to act as co-signor or gu

  • March 15, 2016 @ 9:24 AM
  • Posted by Marc Crossman

HOW TO SUCCESSFULLY KILL YOUR FINANCING APPROVAL

  Here is where you are currently sitting. You have successfully found your dream home. Negotiated like a true champion and kept your calm through the back and forth with the seller. Provided th

  • March 15, 2016 @ 9:18 AM
  • Posted by Marc Crossman

5 QUESTIONS TO ASK YOUR MORTGAGE LENDER BEFORE SIGNING ON THE DOTTED LINE

  1. How the penalties are calculated if I break my mortgage early? Specifically, ask what rate they use to calculate the “interest rate differential”. Typically, if the lender has &

  • March 9, 2016 @ 9:59 PM
  • Posted by Marc Crossman

2016 The Power of Prepayment Options

Do you have a Mortgage Action Plan (MAP)? If not, it’s time to plan your road MAP to mortgage free living. Every lender provides options, but very few take advantage of them. These mortgage bene

  • March 1, 2016 @ 10:37 AM
  • Posted by Marc Crossman

A FULLY LOADED MORTGAGE

Be it fully loaded or all the bells and whistles, as savvy consumers we want to know that we got every bit of extra awesomeness available to us and your mortgage should be no different. Sure you want

  • February 23, 2016 @ 11:05 PM
  • Posted by Marc Crossman

You Can Pay Your Mortgage Faster with The Java Factor

When you are searching for a mortgage, you shouldn’t only base your decision on rate. It is important to search for the “best mortgage”. A mortgage that not only provides the best in

  • February 20, 2016 @ 5:35 PM
  • Posted by Marc Crossman

Obtain A Mortgage Pre-Approval

If you work with me, a licensed mortgage agent, to obtain a pre-approval, you can be confident you have access to mortgage financing and you will know how much you can spend before you head out shoppi

  • February 17, 2016 @ 1:56 AM
  • Posted by Marc Crossman

MORTGAGE BROKERS VS MORTGAGE SPECIALISTS

We’ve all heard the terms Mortgage Broker and Mortgage Specialist flung around, but what on earth is the difference? Though they sound similar, there are major differences that all home buyers a

  • February 10, 2016 @ 8:20 AM
  • Posted by Marc Crossman

NEW CREDIT REPORTING AND WHAT IT SAYS ABOUT YOU

New credit reporting and what it says about you and your spending habits may make all the difference between you buying a home now or later.   When home buyers contact me to apply for a mortgag

  • February 8, 2016 @ 10:42 AM
  • Posted by Marc Crossman

TOP 8 BENEFITS OF USING A MORTGAGE BROKER

When shopping for a mortgage, many home buyers enlist the services of a Mortgage Professional. There are several benefits to using a Mortgage Broker and I have compiled a list of the top 8: &nbs

  • February 5, 2016 @ 11:42 PM
  • Posted by Marc Crossman

The Real Value of Title Insurance

I am often asked by clients about the real value of title insurance, why they need to have and pay for it.  Whether you are a home buyer or a home owner simply refinancing the mortgage on your ho

  • January 29, 2016 @ 10:38 AM
  • Posted by Marc Crossman

HOW WOULD A MORTGAGE BROKER BENEFIT ME?

The most important strategy that a home buyer could ever have is putting together a team of Real Estate professionals to help them make the wisest decisions in regard to the biggest purchase they will

  • January 27, 2016 @ 10:48 AM
  • Posted by Marc Crossman

STEPS THAT COULD CHANGE YOUR APPROVAL INTO A DECLINE

Here is where you are currently sitting. You have successfully found your dream home. Negotiated like a true champion and kept your calm through the back and forth with the seller. Provided the endles

  • January 25, 2016 @ 11:17 AM
  • Posted by Marc Crossman

TOP 5 QUESTIONS TO ASK YOUR MORTGAGE LENDER BEFORE SIGNING ON THE DOTTED LINE

1. How the penalties are calculated if I break my mortgage early? Specifically, ask what rate they use to calculate the “interest rate differential”. Typically, if the lender has “po

  • January 21, 2016 @ 11:48 AM
  • Posted by Marc Crossman

ACCELERATED BI-WEEKLY VS. BI-WEEKLY PAYMENTS

When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different p

  • January 13, 2016 @ 3:46 PM
  • Posted by Marc Crossman

HOW TO MAXIMIZE YOUR CASH FLOW WHILE INCREASING YOUR NET WORTH BY HAVING A MORTGAGE PLAN

Interest rates are only one of many features that should be looked at when you are applying for a mortgage. But all things being equal, the interest rate may be more important than you think.  

  • January 12, 2016 @ 9:23 AM
  • Posted by Marc Crossman

NOW IS THE TIME TO GET AGGRESSIVE

The great majority of us are in mortgage contracts that contain a prepayment privilege of some sort. “Privilege” being the key word here. Not all mortgage contracts contain such privileges

  • January 8, 2016 @ 11:15 PM
  • Posted by Marc Crossman

How To Pay Off Debt Faster. 25 Secret Tips

1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to.

  • January 4, 2016 @ 9:14 AM
  • Posted by Marc Crossman

4 THINGS THAT WILL KILL YOUR MORTGAGE APPROVAL

So, you’ve worked hard to save every penny and have managed to finally afford the down payment necessary on a home. You have searched high and low, only to find the house of your dreams at a pri

  • December 29, 2015 @ 12:13 PM
  • Posted by Marc Crossman

Your Mortgage Penalty Was How Much??

  Someone recently asked if I could describe the various penalties associated with breaking a mortgage prior to the maturity date.   Generally speaking, lenders usually use a 3 month inte

  • September 29, 2015 @ 11:16 AM
  • Posted by Roar Admin

Bikes for Kids 2015

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  • September 30, 2014 @ 7:10 PM
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2 Out of 3 Do Not shop at Renewal

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might expect.