When a relationship ends, it’s ideal and common for couples to try to work things out amicably between themselves. While a verbal or a self-drafted agreement is a great sign of mutual respect, mortgage lenders and insurers require something much more robust. To approve a new mortgage, underwriters require a Separation Agreement or Matrimonial Property … Continue reading Separation Agreements- Why a Formal Agreement is Mandatory for Your Mortgage
Category: Refinance
Breaking up is incredibly difficult, and deciding what to do with the matrimonial or family home can add a heavy layer of stress. When one partner wishes to stay in the home and buy out the other’s equity, a standard refinance isn't always the best—or even a possible—option. Thankfully, Canada offers specialized Spousal Buyout Programs … Continue reading Staying in the Family Home- How A Spousal Buy Out Works
In the past year we have seen fixed mortgage rates jump by 3% from the record low rates we had during the pandemic. At the same time variable rate holders have also seen substantial changes to their mortgage interest rates with the Bank of Canada increasing rates over 2% since its first increase back in … Continue reading Fixed Rates and Bond Yields
When you refinance your home, or even when you are switching mortgage lenders and your mortgage is uninsured, the mortgage lender will require an appraisal on the property to confirm your property's current value. Your home is one of your largest assets so of course you want it to appraise high within your current market. … Continue reading Preparing Your Home For A Successful Appraisal