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If you have built up some equity in your home, then one way to access extra cash when you need it is through a second mortgage. With a second mortgage you can borrow up to 80% of the equity in your home. What is home equity? The amount of equity you have in your home […]
Many Canadians these days are struggling with high-interest debt. Mortgage solutions such as home equity loans are one option that many homeowners are turning to in order to help them get out of debt. But are these tools really a good idea? That depends. Consolidating your debt and lowering your monthly interest payments can definitely […]
After a consumer proposal, it can feel like your whole financial world is in an uproar. You may be wondering whether it is going to be possible for you to get a mortgage and finally move into a place of your own. If you are coming out of consumer proposal and you are wondering how […]
There are several mortgage products out there that you can use to help you fund a home renovation project. These include mortgage refinancing, home equity loans and second mortgages. When you are borrowing from the equity in your home, typically you can borrow no more than 80% (sometimes as much as 90%) of the equity […]
If you are self-employed, getting a mortgage can be trickier than if you are simply a T4 employee. In Canada, self-employed individuals enjoy many benefits including being able to write more things off their taxes. And while this results in immediate savings on your taxes, it can have other consequences. When you have a lot […]
If you are a non-resident who is looking to purchase a home in Canada, you will be happy to know that buyers from all over the world are welcome. There are however a few important details that you should be aware of as a non-resident. What is a non-resident? This is not defined by citizenship […]
Homeowners when they apply for their first mortgage rarely do so with the intention of getting a second mortgage down the road. And if they apply for a second mortgage, it likely doesn’t cross their mind that someday they might want to refinance. But there are several reasons why a homeowner might wish to get […]
Reverse mortgages are a tool that Canadian homeowners who are age 55 and older can use to access the equity in their home. A reverse mortgage differs from other mortgage tools like second mortgages in that the homeowner does not need to pay back the loan until they either sell or move out of their […]
For those looking to get a second mortgage in Vaughan, there are certain tips that will help you qualify for a second mortgage quicker and easier. This list of tips are not the only solid advice you can get when seeking a second mortgage, but they are a great start. TIP #1 – Be as […]
When applying for a business loan in Mississauga, there are a number of factors to consider. Securing capital comes down to being prepared and the following tips will provide you with a guideline to use so that you are prepared. Here are seven things that you need to consider. 1. The absolute first thing to […]
