Tips for Buying an Investment Property in Canada

General Konstantin Seroshtan 24 Jun

#1. Think About Financing Early Canadian banks are very conservative when it comes to issuing mortgages for rental property investment. You’ll want to think about financing fairly early on to account for the likelihood that getting approved won’t be as easy as it was for your primary residence. Prime lenders will typically want to see […]

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A Pre-Approval Does Not Guarantee a Mortgage Approval

General Konstantin Seroshtan 28 Apr

by Ross Taylor Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms and review the […]

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How to tell if mortgage rates will go up or down

General Konstantin Seroshtan 9 Mar

If you have a mortgage, then interest rates are extremely important to you! When rates go up, mortgages become more expensive. When interest rates go down, keeping up with a mortgage becomes much easier. The problem is that you’re not just getting a mortgage based on today’s rate – your mortgage will be subject to […]

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BC Assessments Vs. What Your Home is Truly Worth

General Konstantin Seroshtan 11 Jan

The dollar figure on your provincial property assessment notice should not be taken as your home’s market value, here’s why: BC Assessment notices have arrived in the mail, giving some homeowners a big smile and a bit more spring in their step (increased property taxes aside), while others wilt and lament at a modest gain […]

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Does your payment frequency matter?

General Konstantin Seroshtan 21 Dec

It has been said that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrowed, plus interest. However, how you make your mortgage payments, the payment frequency, is somewhat up to you! The following is a look […]

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PURCHASE PLUS IMPROVEMENTS EXPLAINED

General Konstantin Seroshtan 30 Nov

The purchase plus improvements mortgage is one of the best untapped opportunities when buying a home. Many homes for sale in the market are in great locations and the structure or ‘bones’ of the property is also excellent. But the property may not be totally up to date as far as to look or feel […]

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Home Appraisals: What They Are and How the Process Works

General Konstantin Seroshtan 23 Nov

As a buyer, one of the key parts of getting a mortgage is having an appraisal performed to confirm the home value for the lender (bank). Why Lenders Want an Appraisal An appraisal is an unbiased, professional estimate of the value of a property for sale. Lenders always require a home appraisal before they’ll issue a mortgage because they want […]

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Renters insurance?

General Konstantin Seroshtan 16 Nov

Adding a small addendum to your lease agreements, mandating coverage for renters, is a shrewd move to benefit all parties. Whether you’re a new landlord or longtime one, it’s smart to require your tenants to have renters insurance. Here’s how this simple clause can save you from headaches, stress and worry. How renters insurance protects […]

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Separating And Have A Mortgage? Start Here.

General Konstantin Seroshtan 9 Nov

With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a quick list of things to consider. You need to keep making your payments. A mortgage is a legally […]

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WHY BORROWERS CHOOSE PRIVATE MORTGAGE LENDERS

General Konstantin Seroshtan 1 Nov

More Canadians have started to turn to private lenders in search of mortgage financing. With mortgage regulations continually becoming stricter and tightening the lending gap, many would-be homeowners are being squeezed out of their dreams. Private mortgages abide by a similar set of parameters as the ones commonly imposed by many banks. However, these parameters […]

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