Commercial real estate investing can be a great way to make money, but you must understand that it differs from residential real estate investing. Read on to learn more.
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Self-employed individuals often have difficulty obtaining a mortgage due to fluctuating or hard-to-prove income. Many business owners are also motivated to expense as much as possible for tax purposes, which lenders often do not consider.
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Renewing your mortgage can be a daunting task, but it doesn't have to be. With a little bit of research and preparation, you can save yourself a lot of money and hassle. The most important thing is to shop around and compare rates from different lenders. Don't be afraid to negotiate with your lender for a better rate.
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Mortgage refinancing is taking out a new loan to repay your existing mortgage. You may do this to take advantage of lower interest rates, to change the term of your loan, or to tap into the equity you've built up in your home.
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Your debt-to-income (DTI) ratio is the percentage of your monthly income that you spend on debt payments. Lenders use your DTI to decide whether to give you a loan and how much you can afford to borrow.
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If you're looking to save money on your mortgage, you may consider refinancing mortgage strategies in Canada. Refinancing is the process of taking out a new loan to replace your existing mortgage. This new loan can have different terms than your original loan, saving you money over the life of the loan.
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Construction loans in Canada are becoming increasingly popular as more people look to build their own homes. Of course, you might still be scratching your head, wondering if you should opt for construction loans or go with a typical mortgage. Well, there are a few things to understand before you make that decision, and today, we'll help you make that decision!
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Are you considering taking out a commercial mortgage? If so, you'll need to know which properties are eligible for this financing.
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Some loans have fixed rates, while others offer variable rates. We'll discuss what fixed-rate loans and variable-rate loans are today:
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The Canadian government imposes strict qualifications to ensure you can afford your mortgage. This is where the mortgage stress test comes into play.
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If you are a non-resident acquiring real estate in Canada, there are options to enter into an investment property. You may have questions about real estate, but you've come to the right place.
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Owning a home is both an achievement and an investment. But for first-time home buyers, it is a challenge to get approved for a mortgage that could help them in owning a home faster and easier.
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What are private mortgages? If you want to know the answer to this question, read on as we break down everything you need to know about private mortgage lending.
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Today, we’ll look at mortgages Canadians who are self-employed can qualify for. We’ll also tackle how the self-employed can present their creditworthiness.
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Getting pre-approved for a mortgage helps people get lender approval before buying a house. It gives the buyer peace of mind knowing that they can purchase a property that they can afford. Being pre-approved for a mortgage will be a great advantage for buyers since they can get an idea of the mortgage amount they can afford. It can help them save on their time, energy, and efforts when looking at prospective houses.
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Are you in Canada already, or have you not arrived yet? Whatever the case may be, now is a great time to look into your options for understanding and obtaining a mortgage! There's no such thing as being too early or too late at looking into immigrant mortgage options.
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People tend to rely on mortgages to fulfill their dream of buying a home. Besides the financial relief that they can get from it, it will also allow them to focus on other expenses that they may incur along the way. The thing is, things are way different in Canada than it is in the U.S., that is why one must familiarize themselves with the differences so they may get a great deal out of it.
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Refinancing a mortgage allows the borrower to move their existing mortgage somewhere else with more favourable terms. In a place like Canada, refinancing a mortgage is ideal for many people because the terms are generally more relaxed. However, despite its benefits, many people don't often choose mortgage refinancing for various reasons, such as sticking with their current terms or not knowing of it in the first place.
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Second mortgages can be a smart financial decision as long as you understand the risks, and look at it as an investment into something that may have bigger returns in the future. Higher education, renovations, debt consolidation, and smart investments are usually the main reasons to take this on. Not only will this give you extra cash, but it can also protect your investment. However, before you jump on this decision, you must take time to research and understand the idea first.
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