What is a second mortgage, and why would you want to get it? It sounds like a huge financial burden, getting you into even more debt. The good news, however, is that it’s not. A second mortgage actually uses the equity that is accrued in your home. Thus, your original...
The average mortgage interest rate in Toronto is 3.1%. The lowest rates are found in the suburbs, where many homes for sale and less competition among borrowers drive down prices. Additionally, many lenders offer fixed-rate mortgages at lower levels than variable loans. Although mortgage interest rates fluctuate, it is important...
If you’re in a situation of buying a home, you need to be aware of the harsh reality – as much as you want to buy it, lenders want to loan you as much money as possible. Because the bigger the loan, the happier they are. You’ll become certain when...
Educating yourself is the best approach if you are planning to apply for a mortgage. Understanding the mortgage process will ultimately save you more time and more money. To ensure that your mortgage application will go as smoothly as possible, below are some tips from financial experts. Determine your budget...
Getting a mortgage takes approximately 18 to 40 days. However, it depends on circumstances such as an individual’s situation and market status. In a time of fast deliveries and quick online services, we are used to the expeditious fulfillment of our needs and wishes. But this is not always the...
Equity release is a financial plan that is designed to help an individual that is older than 55 years of age secure a loan against his home. This type of loan has of late become very popular because it helps old folks that have assets to use them to get...
If you’re planning to make a major purchase anytime soon, you need to know more about how loans work, and that includes knowing everything there is to know about your credit score. If you do know what your credit score is or you do not understand how it came to...
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