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News

Making Smart Choices

March 20, 2015

Before deciding to refinance, it would be wise for homeowners to speak to a mortgage specialist to do the calculations to see if the interest rate savings is greater than the prepayment penalties. If so, refinancing can be a smart financial decision that can help reduce mortgage payments, build equity, shorten the term and reduce […]

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Paying Penalties

March 17, 2015

When refinancing to secure a lower interest rate or to convert between variable-rate and fixed-rate mortgages, there is a usually a penalty fee in the contract between the lender and the borrower which must be paid. Typically, with a variable-rate mortgage, there is a prepayment penalty that is equal to three months interest. For a […]

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Should You Refinance Your Mortgage?

March 12, 2015

As the Canadian mortgage rates continue to lower with the Bank of Canada announcing an interest rate of 0.75% (Jan. 21) and Prime lending rates at 2.85% (Feb.), should homeowners take advantage of this opportunity to refinance their home? Refinancing can be done with several different objectives, such as getting a lower interest rate, shortening […]

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The Smaller The Better

December 8, 2014

When it comes to home buying, buyers have to consider different factors in choosing a home. It is common for people to face expenses other than their mortgage payments such as heating, electricity, insurance, and property taxes.  Experts recommend home buyers go for smaller homes – the smaller the home, the cheaper it is. 1. […]

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Baby Boomers – No Plans to Downsize

May 24, 2013

A recent study shows that nearly half of the baby boomers from 1947-1966 are planning to move from their current residence to another of equal or larger size than their current home. With this happening, smaller, single-sized family homes are creating an over-supply. This study also involves more than half of Generation Y. They have […]

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Go Variable or Go Fixed

May 23, 2013

Home owners nowadays tend to choose a fixed-rate mortgage since rates are at a remarkable all time low!  Even though the prime rate lowered during the financial crisis in 2007-2009 and has not gone up since, the popularity of a variable-rate mortgage hasn’t gone up because of the low fixed-rates in today’s market. The great […]

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Making a Smart Real Estate Purchase

May 22, 2013

Every now and then people tell you stories on how they overpaid for a house, never ordered an inspection only to find that they incur huge unexpected expenses. Here are a few tips from a professional’s point of view to reduce the chances of any of this happening to you. Stick to the budget! When […]

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Looking To Upgrade To A New Home

March 8, 2013

Many young couples presently renting or living in a condo are now looking to upgrade themselves by buying a home, because mortgages rates being so low and affordable. Maple Leaf Mortgages is finding that many young couples are eager to move out of their condos or apartments and purchase a home since they are starting […]

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Real Estate Market for 2013 is Looking Up

March 6, 2013

The Federal government is being targeted by the mortgage brokers’ organization stating that the new law that was passed in the summer of 2012 makes it difficult for clients to be eligible for an insured mortgage. People who are involved in the housing market knew that things would eventually slow down, as has happened in […]

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Private Mortgage Loans

November 28, 2012

Private mortgage loans are primarily for people who have a challenging credit score and in desperate need of quick money. Borrowing from private lenders is a great way to consolidate debts, get rid of high monthly payments and to increase credit scores. Private mortgage borrowers are sometimes faced with power of sale. A major factor […]

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