Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Best Practices to Verify Your Clients’ Down Payments May 25th
Proving the source of your clients’ down payments can sometimes be the most time-consuming part of arranging a mortgage. Even when handled well, the process may sour the buyer experience. Your client will need to provide a comprehensive history of all the money earmarked for their down payment.... More »
CIBC’s Tal: “This is not a meltdown,” but expect short-term pain + MORE Oct 23rd
Despite softening origination activity, mortgage professionals should welcome the current "reset" to healthier market conditions..... More »
Looking for a mortgage in B.C.? Don’t limit your options to the big banks + MORE Aug 11th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
House rich, cash poor: When a reverse mortgage might make sense Jul 14th
Reverse mortgages were at one time considered the Wild West of financial products, associated with aggressive and even predatory sales tactics targeting seniors in the United States. .... More »
Community Trust at 50: A golden anniversary built on broker partnerships + MORE Oct 19th
Reflecting on five decades of alternative lending, national growth, and an unwavering commitment to the Canadian mortgage broker community..... More »
Buying a home can mean many exciting decisions, from renovations to landscaping to furniture selection. And while choosing paint colours may be fun, it’s important to also spend time thinking about the financial decisions that come with a new home, such as reviewing your mortgage and protection options available, so you can both purchase—and help safeguard—your dream home.
Luckily, whether you’re a first-time home buyer or a seasoned pro, sound advice is readily available to help you make the right choices for you. For those thinking about buying a new home, here are three questions to ask yourself.
1. What should I consider when determining a down payment?
“When assessing how much to contribute to your down payment, it’s important to go back to the basics,” explains Jared Jarman, associate vice president, specialized advice, at TD. “Starting with a budget that captures all of the costs associated with your purchase helps you to break down the cost of your move and to see what may be needed down the line, helping determine how much you can reasonably contribute to your down payment…
Luckily, whether you’re a first-time home buyer or a seasoned pro, sound advice is readily available to help you make the right choices for you. For those thinking about buying a new home, here are three questions to ask yourself.
1. What should I consider when determining a down payment?
“When assessing how much to contribute to your down payment, it’s important to go back to the basics,” explains Jared Jarman, associate vice president, specialized advice, at TD. “Starting with a budget that captures all of the costs associated with your purchase helps you to break down the cost of your move and to see what may be needed down the line, helping determine how much you can reasonably contribute to your down payment…
Latest in Mortgage News: House Price Growth to Cool by End of Year: TD
– canadianmortgagetrends.com
TD Bank is forecasting that home prices have further to rise yet before finally starting to lose steam by the end of the year. “…with markets remaining historically tight, more near-term gains are in the cards,” wrote TD economist Rishi Sondhi in a recent report. But, with home prices already up 31.6% in March on an annual basis, and with sales up 76.2%, Sondhi added that such growth is “unsustainable.” “Accordingly, we anticipate some cooling in sales starting in the […]
Home equity options: When should you choose a reverse mortgage over a conventional mortgage or HELOC?
– moneysense.ca
With home property values in Canada increasing at an astonishing rate—the national average sale price went up 25% between February 2020 and February 2021—homeowners across the country may be considering the various ways they can tap into their growing equity.
One obvious approach is to sell your home and downsize to a smaller property or rental, and pocket the proceeds of the sale.
Those who prefer to stay put, however, can borrow against the equity in their home in three different ways: take out or refinance a conventional mortgage, open a home equity line of credit (HELOC), or get a reverse mortgage.
While these products may seem similar at first blush—they all give you access to the value that’s tied up in your home—they are not the same, and each should be considered carefully. How can you tell which one is right for you? We’ve put together a summary of key points in a handy chart below, then go on to explain the key differences and how to choose in more detail.
At a glance: conventional mortgage vs…
One obvious approach is to sell your home and downsize to a smaller property or rental, and pocket the proceeds of the sale.
Those who prefer to stay put, however, can borrow against the equity in their home in three different ways: take out or refinance a conventional mortgage, open a home equity line of credit (HELOC), or get a reverse mortgage.
While these products may seem similar at first blush—they all give you access to the value that’s tied up in your home—they are not the same, and each should be considered carefully. How can you tell which one is right for you? We’ve put together a summary of key points in a handy chart below, then go on to explain the key differences and how to choose in more detail.
At a glance: conventional mortgage vs…
