by debtcancel | Oct 19, 2017 | Mortgages
Effective January, 2018, the qualifying rate for uninsured mortgages, (20%+ down payment), will be the greater of the five-year benchmark rate published by the Bank of Canada, (4.89% today), or the contractual mortgage rate + 2%. In plain English, IF the 5 year...
by debtcancel | Oct 18, 2017 | Mortgages
When shopping for a mortgage, the lowest rate should not be your only concern. Pay attention to the three ‘P’s’: Prepayment privileges By how much can you pay down your mortgage annually without being penalized? Penalties What penalty will you pay to pay your mortgage...
by debtcancel | May 16, 2017 | House Tips
A rental property can be a lucrative investment. Before purchasing, however, do your homework by considering the following important factors: Realistic Rental Income Consult with real estate professionals to determine the ‘fair market rents’ applicable to your...
by debtcancel | Apr 14, 2017 | Mortgages
One of the biggest debates in the personal finance community is whether someone should use their extra cash to pay down the mortgage or put that money to work in investments. The mortgage paydown strategy is popular with risk-adverse folks. Investing is risky, while...
by debtcancel | Apr 14, 2017 | House Tips
A well-maintained home is a smart way to ensure your home is safe, and that its value continues to rise, whether you plan on selling it now or in the future. Here are some tips: Double check you’ve got smoke detectors on each floor of your home, test them...
