Tag Archives: banking

CMHC LOAN INSURANCE – HOW IT WORKS & HOW IT CAN BE IMPROVED

SOURCE: DAVID LAROCK In many ways, our government run CMHC mortgage loan insurance program works a bit like the typical Bank of Mom and Dad. When lenders find people who need mortgage loans and don’t have a down payment of at … Continue reading

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CMHC CHANGES ITS MORTGAGE INSURANCE PRODUCT OFFERING

Source: Canada Mortgage & Housing Corporation As part of the review of its mortgage loan insurance business, CMHC is discontinuing its Second Home and Self-Employed Without 3rd Party Income Validation mortgage insurance products effective May 30, 2014. Self-employed Canadians can … Continue reading

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SELF EMPLOYED? PREPARE FOR A LONG CONVERSATION WITH YOUR MORTGAGE BROKER

Source: Financial Post If you’re self-employed and about to apply for a mortgage, be prepared for some serious form-filling. Getting financing isn’t as easy as it used to be, say mortgage brokers — and for the 15% of Canadians who … Continue reading

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PRE-QUALIFIED VS. PRE-APPROVED – WHAT’S THE DIFFERENCE?

Ralph Waldo Emerson, American essayist and poet, once said that the future belongs to those who prepare for it. This is sage advice for home buyers who need to lay the necessary groundwork to buy the home of their dreams. … Continue reading

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MORE CANADIAN BANKS CUT MORTGAGE RATES

Story courtesy of The Financial Post More of Canada’s biggest banks slashed their residential mortgage rates Wednesday, a day after Royal Bank of Canada started the latest round of cuts. Toronto-Dominion Bank cut its four-, five-, seven- and 10-year fixed … Continue reading

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