Choosing the Right Mortgage – Mortgage Basics
There is an astounding range of commercially available mortgage products, which makes choosing the right mortgage increasingly difficult without a firm grasp of mortgage basics. Here we try to give the consumer struggling to understand the basics of what a mortgage is, how it operates, and what features are right for him or her, the basic terms and distinctions that will allow the consumer facing an all-important
Contrary to what you may think, you don’t manage your credit applications and payments in a vacuum. Your credit behavior (as some have learned the hard way) is tracked by credit bureaus such as Equifax Canada and TransUnion of Canada.
This information is tabulated, and then you are assigned a credit rating. It’s important for you to maintain as high a rating as possible. The following information shows you how you can be sure to earn a good score,
More than a third of homeowners predict they will be nearing retirement before they own their own home, new research suggests.
Responding to a One Account survey, 36 per cent of homeowners predicted they would be at least 60-years-olds before they paid off their mortgage.
A further 20 per cent didn’t expect to fully pay off their mortgage until some time in their 50s, with many also complaining that mortgage commitments were impeding on other areas
Around 3.85 million home owners believe that a non existent state benefit will enable them to keep up with mortgage repayments in the event of losing their income.
Almost one in ten home owners wrongly believe that the government will pay their mortgage if they are unable to do so for reasons such as redundancy or illness, according to new research.
However, the government will not help anyone with mortgage payments for the first nine months of unemployment and
Real estate has been an outstanding investment in most parts of Canada in the past few years. Home valuations are continuing to rise and have broken through the peak of their 1989 “bubble” in many areas of the country. That’s good news for Canada’s 7.5 million home owners, who are enjoying an average increase of $43,000 in real estate wealth since the upward trend took hold in 1998.
The hot housing market is being fuelled by mortgage
