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Mortgage Rule Changes – How they Impact the Consumer

Rising Rates and Stricter Qualifying Guidelines May Make it Harder for you to Qualify for a Mortgage and Lower your Purchasing Power Even Further (to be in effect by December 31, 2013) When purchasing a home, the keys that impact how much and whether you qualify at all are based on: your income credit and [...]

By | September 18th, 2013|Mortgage News|Comments Off on Mortgage Rule Changes – How they Impact the Consumer

Collateral Mortgage Charges Explained

Collateral Mortgage Charges, Canada - This post was inspired by a conversation I had this week with a client that was referred over to me for a mortgage switch or transfer, which is typically a pretty simple and seamless transaction, with no legal fees or any additional expenses incurred on the part of the borrower....in most cases.

By | April 12th, 2012|Mortgage News|Comments Off on Collateral Mortgage Charges Explained

Pre-Payment Penalty – Lenders Are Taking Action

In March of this year, the Government of Canada and the Financial Consumer Agency of Canada announced a new proposal on how to disclose mortgage pre-payment penalties on closed fixed term mortgages. There has been a lot of confusion surrounding pre-payment penalty calculations over the years, with there not being a lot of consistency amongst [...]

By | October 11th, 2010|Mortgage News|Comments Off on Pre-Payment Penalty – Lenders Are Taking Action
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