Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer! + MORE Aug 1st

Interested in learning more about property mortgages in Canada? Look no further!
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How to Improve Your Credit Score – Student Edition + MORE Sep 15th

The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit. But.... More »

Brokers: How to Stay in Touch with Your Clients Oct 13th

It’s a mortgage broker’s job to remain in touch with their clients. But because years can pass between dealing with these clients, and perhaps for a lack of organization skills, that doesn’t always happen. Unfortunately, when it’s time to refinance or renew the mortgage, these fo.... More »

What’s the TRUE Impact of Policy Changes on the Canadian Mortgage Market? Dec 15th

It’s certainly not what the Bank of Canada (BoC) is claiming! The BoC recently released a document detailing what it believes to be a positive report on the Canadian Mortgage Market, but this article clearly shows how out of touch our government is. The BoC is applauding their statistics̷.... More »

Debt Consolidation Tip: Pay less interest! + MORE Feb 22nd

The beginning of the year is typically tough financially for most of us. Holiday bill payments, RRSP contributions, property tax bills, etc. And, if you’re self-employed, you probably have to make some sort of business tax or corporate tax payment. If December is the Holiday Season, then Janua.... More »
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BREAKING: Ontario Car Insurance Rates Have Increased Oct 16th

Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.06 per cent on average..... More »
The (Hidden) Costs of Moving in Canada
We here at RateSupermarket.ca talk a lot about budgeting and finding the best mortgage rate when it comes to buying a home, but when it comes to actually uprooting your life, packing your belongings, and moving into a new abode, other expenses need to be considered as well.
According research done by RateSupermarket.ca, the cost of getting ready to move comes in at about $1,648. This number considers the cost of packing supplies from boxes to protective coverings for your furniture, cleaning supplies, and a one-day moving truck rental.
Notably, the bulk of moving preparation costs come from miscellaneous living expenses. As you know, moving to a new residence is not easy and the packing/unpacking period can span days – even weeks. Therefore, as you’re settling into your new home, it’s normal to incur living expenses such as travel costs while running errands or ordering takeout for the family if you don’t have the time or set-up to cook your meals.
And though the process can be simplified by hiring professional packers and movers, using these services comes with a hefty price tag…

Continue Reading On ratesupermarket.ca »

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers and others looking for lower monthly mortgage payments.
Designed to help borrowers increase monthly cash flow by providing maximum flexibility, this product can be used for both purchases and refinances.
I recently tried this product out and was really impressed!
My client was a newly-separated single mother who needed a break on monthly mortgage payments. I was able to improve her monthly cash flow on a $354K mortgage from $1,470 down to $1,261 – a savings of $209 per month/$2,508 annually!
This savings was possible thanks to the ability to place 50% of the mortgage as an adjustable rate mortgage (ARM) and 50% as interest only.
Product Highlights

Interest-only available up to 65% loan to value (LTV) or 2 components of interest-only and amortizing payments up to 80% LTV
Interest-only portion must consist of at least 50% of total mortgage amount
Fixed and adjustable rate options available
Applicable mortgage amounts range from $200,000 to $2 million
Qualification based on 30-year amortization for interest-only portion
20% prepayment privileges, convertible and portable

If you’re looking to free up more monthly cash flow, this new product may be a great solution…

Continue Reading On canadamortgagenews.ca »


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