Articles About Buying a Home

How do real estate commissions work in Canada?

Real estate commissions are paid to real estate agents who are responsible for listing the property or representing the buyer in the transaction. Depending on how a transaction is executed, the commission may be split between the seller and buyer.

Canadian Mortgage Rate Trends for 2021

In this article, you will find key information about current mortgage rate trends in Canada. The Bank of Canada (BoC) target rate, which is linked to variable mortgage rates, is at its lowest right now, so don’t expect any further drops! BOC has made a commitment to keep key rates low until the economy begins to recover. Many forecasters are predicting economic recovery will not gain pace until 2022 / 2023.

How to buy home and auto insurance in Canada

Each year in Canada, approximately one out of every twenty homes places an insurance claim and over 160,000 car accidents. With numbers this high, it’s no wonder that so many people are seeking out comprehensive insurance plans that will help to keep them safe and insured in the case of an accidental or unpredicted event.

How do escrow accounts work for mortgages?

Quick Links How do escrow accounts work for mortgages? What is an Escrow Account? Types of Escrow Accounts in Real Estate Who Manages the Escrow Account? Frequently asked questions about how do escrow accounts work for mortgages? How do escrow accounts work for mortgages? If you have taken a mortgage loan, there is a chance...

Difference between prime mortgage lenders and private lenders

When buying a new home or commercial real estate property, individuals and businesses use mortgage loans instead of making a single upfront payment. When taking a mortgage loan, borrowers can choose between a mortgage lender and a private lender. A mortgage lender can either be a prime mortgage lender or a subprime mortgage lender, depending on the borrower’s credit score.

Home Equity Loan in Canada

Homewise is a Free Online Mortgage Service That Saves You Time and Money

It’s almost too good to be true, but that’s what we love about our business; we get to help people realize their home buying dreams, and do it in a way that saves them a lot of time, money, and confusion.

How COVID-19 is Affecting Mortgages and the Real Estate Market in Canada

Ever since the start of the year when the coronavirus first started to become an issue, the Government of Canada bond yields have been on a downward trajectory. As a result, fixed mortgage rates fell off a cliff in January and February. A lot depends on how the coronavirus situation plays out and how quickly health officials can get it under control, but this is how I see things going if coronavirus is under control by the summer (hopefully a lot sooner).

What is a Good Credit Score in Canada for a Mortgage?

If you are in the market for a property, one of the determining factors to get approved for a mortgage is a credit score. Sure, you need a down payment, and income but a credit score shows lenders how you manage credit. Without an acceptable credit score, getting a mortgage will prove to be a challenge. Here’s what you need to know about your credit score in order to get approved for a mortgage in Canada.

Mortgage Points Information for New Buyers

Mortgage Points Information for New Buyers

Holding the keys to that first home is a milestone event in the life of an adult. New home buyers can become so caught up in getting a new residence that they miss the implications of important fine details of financing a mortgage. For instance, the impact of mortgage points on their loan may get...

Buying a Home With Bad Credit: Tales of Success

If a home loan is not approved on the first try, it pays to apply with another creditor that will be open to saying yes. There are countless lenders that offer mortgages specifically for buyers with bruised credit or other financial situations. All borrowers should know their credit score in advance so they have an idea of their chances for approval.

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