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Posted by: Jen Lowe
4 COMMON FINANCIAL MISTAKES EVERY SMALL BUSINESS OWNER SHOULD AVOID Every entrepreneur and business owner will make a few financial mistakes during their journey. Those who aren’t savvy in accounting often overlook the need to brush up on their financial IQ. Truth is, these little financial errors can lead to some serious cash flow problems […]
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YOU JUST GOT A MORTGAGE. NOW WHAT? Mortgages are a funny thing. On the one hand they allow you to become a home owner without saving up enough money to purchase the home outright, which is a really good thing. On the other hand, even at today’s really low interest rates, as they are amortized […]
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NEW MORTGAGE CHANGES DECODED This week, OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. Note that this currently does not apply to Provincially Regulated Lenders (Credit Unions) but it is possible […]
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MORTGAGE BASICS – TYPES OF INSURANCE Sometimes it is a good idea to revisit the basics when looking at a complex thing like a mortgage. There can be misunderstandings which crop up. The mortgage process can be very stressful as you wait for some anonymous entity to decide whether or not you are able to […]
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GETTING A MORTGAGE AFTER CONSUMER PROPOSAL OR BANKRUPTCY Life can definitely throw some challenging financial situations your way. As mortgage professionals, we can provide solutions and strategies during or after these challenging times in order to get you back on track. We have access to banks, trust companies and mortgage companies that specialize in this […]
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5 WAYS TO BOOST YOUR FINANCIAL FITNESS Thinking about buying your first home? The race to home ownership is more like a marathon than a sprint: diligent planning, pacing and strategy are the keys to success. Are you ready to approach the starting line? Here are five ways to shape up and boost your financial […]
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WHAT IS REFINANCING AND HOW IT WILL CHANGE YOUR CREDIT? The need to refinance your mortgage can be for many reasons. Whichever the reason you are refinancing, there are a few things to consider. One of the top questions we are asked as a Mortgage Broker is “will refinancing hurt my credit?” The answer to […]
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INSIDE AND OUTSIDE THE BOX MORTGAGES IN TODAY’S MARKET As we truck along in 2017, Mortgage Brokers and Lenders are adjusting to the new risk based mortgage rate pricing that came into play after the Finance Minister changed Government backed mortgage default insurance regulations in late 2016. Lenders often choose to pay for mortgage default insurance […]
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READING THIS COULD SAVE YOU THOUSANDS OF DOLLARS!! (AKA HOW TO RENEW YOUR MORTGAGE IN 5 EASY STEPS) What is a mortgage renewal you ask? Each mortgage has a set term which can vary from 1-10 years. Just before the end of your term you will receive an offer from your current lender and you […]
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DOWN PAYMENT VERIFICATION – 5 KEY POINTS One of the essential aspects of every mortgage application is the discussion pertaining to your down payment. Home purchases in Canada require a minimum down payment of your own funds to be put towards the deal. Your stake in the purchase. It is important that during the discussions […]
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