As your trusted mortgage adviser's we are absolutely committed to doing everything we can to help you if you are experiencing difficulty making your mortgage payments. These are unprecedented times, incredibly volatile and information is being adjusted, changed, clarified on a daily basis. I hope the information provided here can provide some help and please … Continue reading COVID-19-What Home Owners Need to Know
There is a lot of interest in the New Canadian First Time Home Buyers Incentive Program. This program is shared equity program designed to make first time home buying more affordable. See our video to have a better understanding, and don't forget to visit: placetocallhome.ca for more information.
The Most Recent OSFI Mortgage Rule Changes On Tuesday October 17 the Bank of Canada announced they will proceed with the implementation of a stress test for all uninsured mortgages. An uninsured mortgage is where the down payment is more than 20% down, has no default mortgage insurance and includes refinancing. The stress … Continue reading OFSI Mortgage Rule Changes effective January 1st 2018
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