What are some tips to pay down your mortgage quickly? Here is how some people saved themselves money on mortgage interest and paid down their mortgage's faster. Of Buyers who purchased between 2014-2017: 18% made a lump sum payment (average was $19,500) 16% increased the amount of their payment (average was $440 a month) 10% … Continue reading How to pay down your mortgage?
Default Mortgage Insurance is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. In Canada, we are fortunate that we have three organizations that offer default mortgage insurance: CMHC – Canadian Mortgage Housing Corporation, Genworth, and Canada Guaranty. Why is this important and a benefit to a borrower? While these … Continue reading Insurance Series- Default Mortgage Insurance
Title insurance is protection against loss arising from problems concerning the title of your property. In Canada, First Canadian Title (FCT) is the company through which title insurance policies are insured through. There are two different types of title insurance policies a “lender policy” and an “owner policy”. Lender Title Insurance When you take out a mortgage, … Continue reading Insurance Series-Title Insurance
Home Insurance When you purchase a home, it is prudent to protect yourself in the event of calamity such as fire, flood, storm and even liability damage. If you have a mortgage on your home, the lender you are with, will require proof of insurance prior to funding. This proof is often in what's commonly … Continue reading Insurance Series-Home, Disability and Life
Is Your Mortgage Coming Up For Renewal? Are you aware of when your mortgage is coming up for renewal? If not, it is a good idea to find out when it is. If you’re like most Canadians, it’s something that we would like to forget, or keep in the back of your mind. With … Continue reading Options at Renewal
Welcome to our first blog! We are mortgage brokers and are passionate about what we do. Danielle and Crystal are sisters we are the Mortgage Sisters West! As mortgage brokers we don't work for a specific bank or lender (we like our independence!) but rather we are affiliated with 50 different lending institutions and banks … Continue reading Our first blog post!