Mortgages

Do you have a mortgage? Did you get a notice warning you of renewal coming up? There is no need to worry. Mortgage renewal gives you the chance to go over what worked and what didn’t in your current mortgage term and lets you improve things for the new term. If you are wondering how…

Are you looking forward to beginning your home-owning dream? Is 2021 the year for you? Before you begin looking at houses, you may need to consider a few things. It is a good idea to make sure your finances are good and in order. You may find a house you like, but it’s your finances…

Business owners are important to our economy. Not only do they provide goods and services that make our lives easier, but they also create jobs and spur innovation. It’s frustrating therefore to see that up until now, many self-employed individuals have had difficulty getting mortgages. This is because when you are self-employed, your income can…

Matrix Mortgage Global made the top 100 list of the most dynamic mortgage professionals from around the world. We’re proud to be part of a global discussion of leading mortgage professionals in various markets in the US, Canada, Australia and New Zealand. Twenty-eight Canadians have made it onto the Mortgage Global 100 list, the inaugural annual…

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’ve been thinking that a second mortgage might be the right option for you so you can free up some cash flow or consolidate some debt then you likely have some questions about how to qualify for one. Similar to your primary mortgage, when you applied for it, there are certain financial requirements you’ll…

We don’t mean to get ourselves into debt: a small emergency here, a couple things come up there and before you know it you find that you’re struggling to make the minimum payments every month. For years you’ve been paying your mortgage and now you own a big chunk of your home, so why not…

Most people don’t think much about their mortgage renewal until they get a reminder in the mail from their financial institution that their renewal is coming up. But the truth is that mortgage renewal should be something that is always in the back of your mind because while most renewals get approved without too much…

 When a couple separates, often one will move out while the other continues to live in the marital home. The one that moves out may feel that it is unfair for them to continue to pay a mortgage for a home they no longer live in, however if their name is on the mortgage, they…

Having bad credit can make getting a mortgage more difficult – particularly with more traditional lenders such as banks and credit unions. One strategy to help you offset having bad credit is to save up a larger down payment. Having a larger down payment helps to offset the risk that a lender is taking by…

To say that the mortgage industry experienced some excitement in 2018 is an understatement. Everything from new borrowing regulations to trade tensions and immigration left their mark on the Ontario housing market, and by extension mortgages. Let’s examine some of the major events that impacted mortgages in 2018. Financial stress test. In January of last…

UNCOVERED: CMHC’s New Home Buyer Incentive Matrix Mortgage Global is Canada’s #1 Fastest-Growing Mortgage Brokerage Entering the real estate market amidst rising prices and stricter lending guidelines has become more difficult than ever. In an effort to ease the stress on hopeful borrowers, the Canadian Government has proposed the following changes to CMHC’s Insurance Plan: …

5 Reasons To Become A Mortgage Agent 1)    Housing market demands do not dictate mortgage business success – 30% of Ontario residents have mortgages, and they renew every 1-3 years. 2)    Learn to build wealth through real estate: help yourself and your whole network reach financial freedom 3)    If you’re salaried, you can get fired at any time and you…

Separating assets when you are going through a divorce can be a challenge. This is particularly true of the family home. For most couples, their home will be their largest asset in many cases, neither spouse will be able to afford to buy the other one out in cash. When it comes to dividing home…

Looking for a new home and found the perfect one but haven’t sold your current one yet? As a homeowner you likely don’t want to be paying two mortgages as that can add up really quickly. If you’re looking to purchase a new home before you’ve sold your current one there’s something called a bridge…

Renovations to your home can become very expensive very quickly, and sometimes it’s not an option to do the renovation in pieces until you can save up the money to pay for the rest of it. Some lenders offer the option to borrow small amounts of money to complete the renovations you’ve planned to turn…

As a first time home buyer you may not have experience with how quickly home related expenses can add up, and they could be large amounts. You likely have your down payment together and closing costs but other items might come up sooner than you anticipated. Luckily there are a number of grants specifically for…

Debt can be overwhelming, and sometimes it can seem like there is just no way to climb your way out. If you’ve been exploring your options to see if there’s any kind of help out there for you, you have likely come across an option known as a consumer proposal. A consumer proposal will be…

There have been many advertisements for reverse mortgages, filled with promises to help with your cash flow and ease some financial stress. You might find yourself asking if it’s really that simple or if there’s more to it than just putting some cash in your bank account. There is always the fine print to a…

If you own a business or are considering buying rental properties, then you may be wondering how to get a commercial mortgage. Unlike residential mortgages, many lenders do not advertise their rates for commercial, so if you simply walked into your financial institution to apply for a commercial mortgage, it would be difficult to know…

If you’ve been looking at the offerings of various lenders for mortgage rates, one thing that you might notice right away is how many of them primarily advertise their rates on their five-year fixed mortgages. And there are a couple of reasons they do this. The first is that five-year fixed mortgages are the most…

 What is the difference between a second mortgage and a home equity loan? If you need to access the equity in your home, there are a number of tools you can use to do this, two of which are second mortgages and home equity loans (also known as home equity lines of credit). Since some…