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Should you buy the fixer upper?

Should you buy the fixer upper?

When it comes time to purchasing a home, do you choose the more expensive but brand-new home– or do you go for that fixer upper with the potential to become your dream home? In order to make this important decision, you will need to consider if renovations are a fit for you on a variety of levels, from budget to the unexpected.

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How to Use Prepayments to Be Mortgage Free

How to Use Prepayments to Be Mortgage Free

Using mortgage prepayment options can drastically reduce the total amount of money you spend on your mortgage – and shorten the time it takes to pay it down! If you follow these three steps, you can be mortgage free sooner than ever!

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Alternative Lending

Alternative Lending

With mortgage regulations ever-changing and becoming more stringent on borrower qualification, more and more Canadians are finding it harder to qualify for a traditional mortgage. Consumers who do not qualify for a traditional mortgage are increasingly turning to alternative lenders for their borrowing needs.

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All About Appraisals

All About Appraisals

What is an appraisal? Simply put: an appraisal is a professional’s opinion on the true market value of your home. Banks use appraisals, and so do home owners during the process of buying, selling or refinancing a home.

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Bridge Financing

Bridge Financing

Bridge financing is a less common financing option, but it can be ideal for some buyers. Bridge financing is used when you have a firm sale agreement on your home and a firm purchase on a new home – but your new home closing date is sooner than the home they’re selling.

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Bankruptcy and getting a mortgage

Bankruptcy and getting a mortgage

With the increasing stricter mortgage regulations in Canada has prompted the question, if you have to file bankruptcy is a mortgage still attainable? Most Canadians think of this as not possible, but let’s review what bankruptcy is and how you can rebuild your credit score from such.

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What features of a mortgage are important to you?

What features of a mortgage are important to you?

When you think of what you look for in a mortgage, was rate the first thing that came to your mind? It is the most common feature of a mortgage in which we all focus on. But is it truly the most important?

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  • Jan 09, 2018
How to become a real estate tycoon

How to become a real estate tycoon

Have you ever thought about using real estate to increase your overall net worth, or as a way to save for your retirement? Or even as a retirement plan instead of a traditional RRSP?

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Closing Costs

Closing Costs

Buying a home can be a stressful process and you may not know the full scope of the costs to close and finalize your purchase. Let’s break down what some of these costs can look like in getting a mortgage. Most lenders have a standing guideline of verifying a home buyer has 1.5% of the purchase price in closing costs. For example: 1.5% of a $500,000 would be $7,500. Closings costs can be more than the predicted 1.5%, but to understand that guideline better let’s review the sources of these costs.

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