Mortgage Penalties
Mortgage Penalties
This article is Part 6 of our Mortgage Life Cycle Costs series. In our Mortgage Life Cycle Costs series, we warn you that an over-focus ...
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Avoiding the PitfallsAvoiding the Pitfalls: Choosing the Right Mortgage When it comes to selecting a mortgage, it’s crucial to be aware of potential pitfalls that could ha...
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Getting Ready to Buy a Ho...Getting Ready to Buy a Home in Ontario: A Mortgage Broker’s Guide to Preparation Introduction Purchasing a home is one of life’s most significan...
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Mortgage AssumabilityMortgage Assumability This is the 16th article in our Mortgage Life Cycle Costs series. What do we mean by Mortgage Life Cycle Costs and why write so much a...
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Mortgage PortabilityMortgage Portability This is the 15th article in our Mortgage Life Cycle Costs series. What do we mean by Mortgage Life Cycle Costs and why write so much ab...
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Mortgage Pre-Payment Priv...Mortgage Pre-Payment Privileges This is the 14th article in our Mortgage Life Cycle Costs series. What do we mean by Mortgage Life Cycle Costs, and why have...
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Mortgage Terms and Condit...Mortgage Terms and Conditions This is the 13th article in our Mortgage Life Cycle Costs series. What do we mean by Mortgage Life Cycle Costs and why writ...
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Mortgage Advocacy and Sup...Mortgage Advocacy and Support This is the 12th article in our Mortgage Life Cycle Costs series. What do we mean by Mortgage Life Cycle Costs and why writ...
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Mortgage sticker priceIs your mortgage sticker price blinding you? What do I mean with “sticker price,” and what is a mortgage’s sticker price? Your mortgage...
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Mortgage Payment Frequenc...Mortgage Payment Frequencies This is the 10th article in our Mortgage Life Cycle Costs series. Why write these Mortgage Life Cycle Costs articles? We have ...
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AmortizationMortgage Amortization This is the 9th article in our Mortgage Life Cycle Costs series. As a reminder, Canada’s large banks are a saturated oligopoly. Oligo...
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Mortgage TermMortgage Term This is the 8th article in our Mortgage Life Cycle Costs series. As a reminder, Canadian banks are a saturated oligopoly. Oligopolists are in...
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Mortgage supporting docum...Mortgage Supporting Documents Once you are eligible for a mortgage and are finalizing your mortgage, it comes down to managing and fulfilling your mortgage ...
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Why a seller should insis...Why a seller should insist on a condition of finance In a very active, fast-moving, competitive real estate market where property prices are rising at unpre...
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Purchase plus improvement...Purchase Plus Improvements It has often been said that we live in homes that we don’t really like, to fix them up three months before we sell them for...
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Mortgage Stress testThe Mortgage “Stress Test” What is the “Stress Test,” how is it determined, is it a good thing, and how does it affect you? Inescapa...
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Mortgages for non-Canadia...Mortgages for non-Canadians Canada has had an incredible real estate market for the last 20 years, and we are blessed to live in one of the most desirable c...
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New BuildsPre-construction Mortgages This Article will cover mortgage financing for newly built, 100% completed properties purchased from a 3rd party builder/real est...
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Construction MortgagesConstruction Mortgages Building a custom home suited to your exact needs is most people’s dream. When house prices are high or even unaffordable, we start t...
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Getting Mortgage Free fas...Getting Mortgage-Free Faster All of us dream of retiring at a reasonable age with sufficient savings, a paid off mortgage and no debt so that we can enjoy t...
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Property-BuyoutsNavigating Your Way Through A Property Buy-out A mortgage buy-out is necessary when one or more property owner/s pay out the other’s share of the property’s...
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How to Kick-butt Virtuall...How to Kick-butt Virtually It is encouraging and inspiring to see how businesses have stepped up and found new ways of serving their clients. We’re constant...
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Looking at Bridge LoansLooking at Bridge Loans Bridge loans… What, when, how, why? Let’s get you informed and empowered around this topic. Use Our FREE Brid...
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Consolidating Debt Into Y...Consolidating Debt Into Your Mortgage In July’s webinar we looked at consolidating debt into your mortgage. You might be wondering what exactly debt consoli...
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Leverage COVID-19 to Redu...Leverage COVID-19 to reduce mortgage interest rates When life gives you lemons… Make lemonade! We’re approaching a tough situation with relentless optimism ...
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Credit and your mortgageCredit and your mortgage As we move forward with clarity and hope, I encourage you to look at the reality of your finances. The team at Mortgage Allies unde...
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Live Interview With a Len...Your Mortgage during COVID-19 from the Lender’s Point-of-View Sometimes all you need is a change in perspective to see things clearer. The current time is f...
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How to Take Advantage of ...How to Take Advantage of Hard Times The past few weeks have been a whirlwind. Between the worry of the health and safety of our loves ones, to our own menta...
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Mortgages when life happe...Mortgages for When Life Happens to Us… No one likes hard times and very few people want to talk about them, but they are inevitable and unavoidable so we wi...
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How variable and fixed mo...How variable and fixed mortgage interest rates are determined In this article we will clarify how variable and fixed mortgage are determined by financial institutio...
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Pre-approvals Webinar Sum...Everything you need to know about pre-approvals A pre-approval is an important part of the mortgage journey. This article is based on our recent webinar all-about m...
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Mortgage Refinance Webina...The problems and solutions around refinancing your mortgage. Canada’s ever-changing mortgage rules, mortgage slang and lack of education from financial institutions...
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Real-life tips to help yo...Real-life tips to help you face your mortgage Your wallet is not the only thing quivering when you go through the mortgage process. Your heart, brain and tightly wo...
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Self-employed webinar sum...Mortgages for the self-employed In 2007, an individual could buy a home with a 0% down-payment. Thinking back to that year (which doesn’t feel so long ago) brings a...
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Budget like a bossBudget like a Boss Budgets are a vast, but exciting topic and there is always something to learn. For the evening, we covered relevant content in three areas: ...
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Improving your Life with ...Improving your Life with a Secondary Home – our Webinar Takes you Through it All Complete the form below to download the FREE Second...
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Taking the Step Towards a...Taking the Step Towards an Investment Property. Our topic for July’s webinar was ‘Investment Properties’. A firm favourite! This is an excit...
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Some Rules for Foreign Pu...Some Rules for Foreign Purchasers in Canada Now that we’ve covered the content for those who are new-to-Canada, we’re going to talk through foreign purchase...
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Land on your feet with th...Land on your feet with the New-to-Canada mortgage program We held a New-to-Canada mortgage webinar, and the participants loved it! Int...
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Part 3/3 - Your Mortgage ...Your Mortgage Renewal Is it a switch or a refinance? YES, I WANT TO RENEW MY MORTGAGESwitch and Refinance When your mortgage matures, your goals for your new...
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Part 2/3 - Planning your ...Planning your mortgage renewal – Part 2 of 3 Most people only consider what it takes to enter into a mortgage, but the more important question ...
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Part 1/3 - What happens a...What happens at mortgage renewal time? Unlike the United States, Canadian mortgages have a Term period and an Amortization period. The end date of the current mortg...
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Debt Snowball Plan FileNow That You've Read All The Articles In The Series, Please Watch The Instructional Vi...
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Part 4/4 - The Debt Snowb...This plan is not new, but it works. It is designed to keep us motivated while we pay off our debts. There are many philosophies about how and which debt, in a line-up of debts, to ...
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Part 3/4 - How to stay ou...Dieticians estimate that 95% of people who lose weight during a diet will put the weight back on once they stop the diet.
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Part 2/4 - How to pay off...Now that we have a better understanding why we create debt, let's look out for these pitfalls and try to avoid them.
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Part 1/4 - Why we make de...We create debt when our expenses exceed our income. That sounds so obvious. If you Google “what causes debt” it renders 203 million results.
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CMHC Confirms, Credit Sco...CMHC Confirms, Credit Scores are Improving! Recently published data from the CMHC (Canada Mortgage and Housing Corporation) shows that Canadians in general are more...
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Co-owning a propertyCo-owning a property Sky-high real estate prices in big cities, combined with the new mortgage rules have made it increasingly difficult for first-time buye...
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Important Announcement: M...Important Announcement: Mortgage Rule Changes New Mortgage Rules (Q3 2017) In early October 2016 the federal finance minister announced new m...
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Mortgage Renewals Explain...Mortgage Renewals Explained Mortgage Renewals – What happens at renewal time? Mortgages in Canada have set term lengths and mortgage re...
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Mortgage Supporting Docum...Mortgage Supporting Documents – What to expect Buying and owning a house is fun and part of everyone’s dream. Getting the financing to pay for the house is ...
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Mortgage Broker Tips - Ho...Mortgage Broker Tips – How to plan for the best Mortgage Buying a home and taking out a mortgage is the biggest financial commitment that anyone will ...
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What Down Payment is Righ...What Down Payment is Right for You I remember buying my first house. My goal was to save as much a down payment as I could. I first paid off ...
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The Ten Absolute Must-hav...The Ten Absolute Must-have Privileges for Your Mortgage Most of us are pretty good at determining the value in our everyday purchases. Some people would pay...
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New-to-Canada MortgagesNew-to-Canada Mortgages From the day I arrived at Lester Pearson International Airport, I loved Canada. This beautiful country only genuinely felt like home...
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The Death of the Equity M...The Death of the Equity Mortgage Rewind 5 years. Canadians could get a mortgage for 65% of the value of their home without declaring much actual income. If ...
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Canadian Mortgage LendersCanadian Mortgage Lenders As Canadians we are very blessed to have one of the strongest banking systems in the world. This is because our ban...
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Secondary Homes: You Can ...Secondary Homes: You Can Buy a Cottage with a 5% Down Payment If you have ever wanted to own a cottage, care for your aging parents that live far from you o...
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How to Build and Maintain...How to Build and Maintain Good Credit Your credit is more important than your income when it comes to mortgages. A mortgage is obtainable wit...
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Mortgages for Self-employ...Mortgages for Self-employed People Self-employed people are the special kind who want to serve others through the great work that they do. Th...
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Down Payment Amounts and ...Down Payment Amounts and Sources When purchasing a property and the borrower needs a mortgage, a down payment is necessary. The down payment ...
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The 10 Reasons Why People...The 10 Reasons Why People Break Mortgages Statistics show that 83% of people break their mortgage before their mortgage matures, incurring penalties as a re...
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Is it Worth Breaking Your...Is it Worth Breaking Your Mortgage? Interest rates are at an all-time low and many people have rates that are above 3%. Those people are legi...
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Bridge LoansBridge Loans So, you have bought your beautiful new home and sold your existing home first, but it closes after your new home. What to do because your down ...
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Types of Mortgages – The ...Types of Mortgages – The Confusion Removed Most people think that a fixed mortgage is closed and a variable mortgage is open, which is not true. The rate ty...
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Meet Jim and Margie. They...Meet Jim and Margie. They Wanted to Be Mortgage Free. Meet Jim and Margie. They grew up in Oakville and they are in their early twenties. They go out with...
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Rental Properties – Is it...Rental Properties – Is it for everyone? A rental property can be a great enhancement to your financial portfolio. After all, it is a very tan...
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Who Wants to Be House Poo...Who Wants to Be House Poor? You can avoid being house poor by following these quick tips! We in Oakville have been blessed with a very strong...
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The Mortgage You Don't Wa...The Mortgage You Don’t Want Average house prices in Oakville are significant. Thus a mortgage is a large expense and should not be treated as a commod...
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Gifted Down PaymentsThe Gifted Down Payments Understanding gifted down payments and how they could affect your mortgage. There are many legitimate forms of down ...
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Interest RatesInterest Rates Eighty percent of Canadians use interest rates as the sole criteria to find a suitable mortgage. However, 80% of Canadians als...
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The Truth About Pre-Appro...The Truth About mortgage Pre-Approvals Pre-approvals are probably the most misunderstood area in mortgages today. This is because the big ban...
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Make the Right Mortgage C...Make the Right Mortgage Choice Statistics tell us that more than 80% of Canadians will determine their mortgage choice based solely upon the interest rate t...
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