Tag Archives: Mortgage

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

Posted on February 10, 2015 by Kim Mays

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 →

Posted in home search, homes, homes for sale, house hunting, MLS, new home, REALTOR, realty, Uncategorized | Tagged amortization, banking, buying a house, changes to mortgage rules, CMHC, CMHC mortgage loan insurance, credit, credit score, downpayment, financing, home insurance, Home Ownership, interest, Mortgage, mortgage payments, mortgage rates, mortgages | Leave a comment

CMHC CHANGES ITS MORTGAGE INSURANCE PRODUCT OFFERING

Posted on July 9, 2014 by Kim Mays

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 →

Posted in home search, homes, homes for sale, house hunting, MLS, new home, REALTOR, realty, Uncategorized | Tagged amortization, banking, CMHC, credit, credit score, downpayment, financing, first home, first time home buyers, home buying, home insurance, Home Ownership, insurance, interest, interest rates, Kim Mays, Lanark County, Mortgage, mortgage payments, mortgage rates, mortgages, real estate, real estate agent, resale homes, sellers, selling a home, selling your home | Leave a comment

UNDERSTANDING CONDITIONAL OFFERS

Posted on December 10, 2013 by Kim Mays

By Mark Weisleder While any number of conditions are possible, most real estate offers are conditional on two main terms: 1) The buyer obtaining the necessary financing to complete the purchase; and 2) The buyer being satisfied with the results … Continue reading →

Posted in Uncategorized | Tagged buyers, BUYERS HOME INSPECTION, buying, CMHC, conditional offer, conditional sale, financing, financing approval, first time buyers, home inspection, inspection report, Mortgage, mortgage approval, sellers, selling, selling a home, selling a house, selling your home, selling your house | Comments Off

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

Posted on October 22, 2013 by Kim Mays

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 →

Posted in Uncategorized | Tagged amortization, banking, business, credit, credit score, downpayment, financing, gross income, home buying, income, loan, loan to value, Mortgage, mortgage broker, net income, personal income, pre-approval, pre-qualifying, self employed, taxes, TDS, total debt service | Leave a comment

BREAK THE DEBT CYCLE FOR LIFE

Posted on July 9, 2013 by Kim Mays

Financial Seminar on how to “break the debt cycle for life”! ….. Who do you know, right now, that is frustrated with the financial treadmill and is looking for a way to get off? They may be concerned about the … Continue reading →

Posted in Uncategorized | Tagged debt, debt consolidation, finances, financial fitness, financial information, getting out of debt, Mortgage | Leave a comment

MORTGAGE OR TERM INSURANCE – WHICH IS RIGHT FOR YOU?

Posted on June 4, 2013 by Kim Mays

Whether you’re buying a home for the first time, or refinancing an existing mortgage, someone has probably suggested you purchase mortgage life insurance. But don’t rush into buying a policy until you’ve looked at all the possibilities. You could end … Continue reading →

Posted in Uncategorized | Tagged financing insurance, home insurance, house insurance, insurance, insurance coverage, insurance policy, Mortgage, mortgage insurance, mortgage payout, mortgage protection, mortgage security, property insurance, term insurance, term policy | Leave a comment

UNDERSTANDING HOW TERM AND AMORTIZATION WORKS CAN SAVE YOU THOUSANDS!

Posted on April 23, 2013 by Kim Mays

Source: Home Ownership Editor & OCNA Special to Money Management Newsletter If there is one thing that confuses the public it is the difference between the Mortgage Term and the Mortgage Amortization Rate. The Mortgage Term is that period of … Continue reading →

Posted in Uncategorized | Tagged amortization, buying a home, financing, interest, interest rate, Mortgage, mortgage agent, mortgage rate, real estate, selling a home, term | 1 Comment

COMPETING OFFERS

Posted on September 11, 2012 by Kim Mays

Source: RECO In certain market conditions, consumers may find that more than one buyer is interested in a property. This is a competing offer situation (also known as multiple offers) and creates unique conditions in a real estate transaction. Both … Continue reading →

Posted in Uncategorized | Tagged buyers, buying a home, competing offers, financing, financing clause, more than one offer, Mortgage, negotiations, real estate, sellers, selling a home, tips for buyers, tips for sellers, working with a realtor | Leave a comment

REPAIRING YOUR CREDIT SCORE

Posted on July 30, 2012 by Kim Mays

Sometimes the only thing standing between you and your dream home is a poor credit rating. This can happen for a variety of reasons, but the most important thing is to fix it so you can get on with your … Continue reading →

Posted in Uncategorized | Tagged bad credit, car loans, credit, credit applications, credit score, financing, good credit, home buying, loans, Mortgage, mortgage financing, poor credit, real estate | 1 Comment

WHAT IS REAL ESTATE FRAUD?

Posted on April 30, 2012 by Kim Mays

Source: Ontario Government Real estate fraud is a broad term used to describe the different types of fraud that the real estate industry faces. Mortgage fraud Mortgage fraud is a type of real estate fraud that most often hurts the … Continue reading →

Posted in Uncategorized | Tagged aquiring property, buying, identity theft, land registration, land registry, Mortgage, mortgage fraud, ontario land registration system, property value, protecting your identity, real estate, real estate fraud, real estate transaction, selling fraud, title fraud | Leave a comment