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The stress test can be a barrier for many Canadians seeking a mortgage. Traditional banks and other federally regulated lenders require and set a mortgage qualifying rate based on it. Alternative loans are often accessible, flexible solutions that can bypass... View Article
Real estate investors should consider using a private mortgage loan when they are buying properties. A private lender has a different set of criteria that makes the process more streamlined and flexible. The criteria for one of these private mortgage... View Article
A reverse mortgage is a financial product that must be carefully planned for. There are safeguards and risks associated with one of these. Homeowners must have all the details, including the circumstances under which they can lose their house. Remember,... View Article
People with less-than-ideal credit and private loans should consider a different renewal process from the traditional products offered by banks. Understanding the differences and the options available to these borrowers about bad credit is important. Understanding what they can do... View Article
Only traditional mortgage lenders use the Total Debt Service (TDS) ratio to determine whether a loan application should be accepted. The ratio measures the potential borrower’s ability to manage their debt, and lenders use it to decide on creditworthiness. If... View Article
Private mortgages can be a valuable tool for entrepreneurs to manage their cash flow and support their business needs. These financial products offer flexible solutions like debt consolidation, second mortgages, and quick access to funding, helping entrepreneurs stabilize their finances and take advantage of business opportunities.
Understanding the differences between home equity loans and home equity lines of credit (HELOCs) is crucial for making the right financial decision. While home equity loans provide stability with fixed payments and lump-sum access, HELOCs offer flexibility through a revolving line of credit and variable interest rates, making each suitable for different financial needs and circumstances.
Ontario's real estate market is experiencing trends such as increased inventory and the impact of interest rate hikes, affecting stakeholders like real estate agents, home buyers, and lenders. Predictions for 2024 suggest continued market adjustments and challenges, with private mortgage lending becoming a critical option amid these changes.
The COVID-19 pandemic has utterly affected many aspects of society around the world, and one aspect that is not immune is the Canadian mortgage industry. As people and markets navigate the world following a pandemic, it becomes obvious that the... View Article
Interest-only mortgages in Canada's market offer lower initial payments focused on interest, making homeownership more accessible in expensive cities like Toronto and Vancouver. However, transitioning to full principal payments requires careful financial planning amidst potential market uncertainties and rising costs. Learn more.
