So you are thinking about buying a new home and have decided that a new build is what you really want, that’s a great idea, nearly one third of home buyers opt for a brand new build!
It means you can customize your home to meet your personal wants, needs, and style! You have lower maintenance costs on a new build, and unexpected surprises (like asbestos, major plumbing issues, or electrical upgrades) are unlikely! (more…)
In real estate sales the responsibility is on the buyer to beware, and to ensure they know what it is they are buying. However, the risks for both the buyer and seller in a volatile market can be very real and some buyer/sellers just want to back out of their deal.
Most mortgage borrowers don’t know what a collateral mortgage is. When a lender registers your mortgage they can either register it as a “Collateral charge” or a “Conventional Mortgage Charge”. There are several lender’s who have done Collateral only mortgages for the last 8+ years so you may very well be in a collateral mortgage without knowing it. So what does this mean to you?
The definition of collateral is self explanatory, however the way it works in mortgage lending is a more of a “Readvanceable Loan”. Let me explain the difference between Collateral and Conventional.
There are many type’s of mortgages available in the Canada’s Lending Market, which makes being a home buyer an overwhelming process.
That is why using a Mortgage Agent is always advised as we will take the time to explain your options and help find you the right mortgage product for your current and future needs.
We have made a list that will hopefully help you understand what is right for you. This list comprises some of the most common types of mortgages available in Halton, Kitchener, Waterloo, Cambridge, Guelph and surrounding area’s. (more…)
When you incorporate your business, you can protect your personal finances and personal property in the event of a legal action being filed against you as the only assets liable would be those that belong to the corporation specifically. Incorporating your business also allows you to purchase assets under that company which lets you increase your business assets, credit rating and enter into real estate investment’s.
If you are a borrower who is perhaps self-employed, have questionable income stability or employment history or mediocre credit, it’s likely that your lender will need a guarantor or cosigner for your mortgage. In their eyes, this will ensure them that someone will be held responsible if you areunable to make your mortgage payments.
Are you the person who is considering becoming the guarantor or cosigner, then you should understand the difference between the two, they are very different, as each comes with certain rights and responsibilities. (more…)