Most people who spend hundreds of hours house-shopping online don’t realize that spending a mere 28 minutes getting a mortgage pre-approval can make them $10,000 wealthier while getting protection from losing thousands of dollars.
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Refinances let you tap into your home's growing equity and save money which can be a lifesaver especially in hard times. In this post, we talk about how it all works alongside what it looks like in action with some case studies about how clients on our team used the power of refinancing to save money and pay off expensive debt.
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As the COVID-19 global battle ensues, there have been decisive action by the Canadian government to give small businesses and workers the best chance of weathering the storm. We have compiled a live list of government grants and cash flow strategies that we believe are worth consideration for your small business so that you can continue to save for a mortgage down payment or make current payments on time.
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As COVID-19 escalates dramatically in the second week of March 2020, several changes in the mortgage world directly start to affect homebuyers in both advantageous and potentially detrimental ways.
In the webinar above, Paul Davidescu speaks to the record low mortgage rates and how they are starting to trend upwards as lenders put in extra precautions and some even close their doors. We also cover the new-new stress test which replaces the one announced last month, and finally, we cover what else you can do as a current homeowner or renter to thrive in times of uncertainty.
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The silver lining of the Coronavirus pandemic is that those who are in the market for a new home or investment property may be in for some big savings. Along with the outbreak of COVID-19, we’ve also seen mortgage rates drop to as low as two percent— which means now could be the perfect time to refinance or purchase a new home. If you’re curious how and why the Coronavirus is affecting the real estate market, and what this could mean for you, read on.
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Only one-third of Canadians check their credit score before applying for a mortgage. Even fewer actually know what factors can improve or damage their credit score.
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Self-employed Canadians are finding it increasingly difficult to qualify for their ideal mortgage, as stress tests (which qualify you for a mortgage loan) and financing tighten up. But that doesn’t stop entrepreneurs like you who are competitive and persistent. Instead of giving up or taking no for an answer, you find inspiration and seek answers by looking to other people's wins and how they got ahead.
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If you’re new to Canada and want to start looking into your mortgage options, you’re in luck. Given the increasingly closed-off immigration policies in America, Canada knows that its policy to openly encourage immigration comes at an opportune moment.
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With the stress and hard work of being Self-employed, people often forget to plan for the foundations of setting themselves up for their future mortgage.
Additionally, Self-employed Canadians are finding it increasingly difficult to qualify for their ideal mortgage as stress tests and financing get tougher. It’s hard to balance out saving taxes with reduced income declarations and the realities of stress tests.
Here are three foundational things to not forget to do before you’re ready to actively find a mortgage that’s best for you.
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