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Canadian banks are regulated by bodies like the Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer Agency of Canada (FCAC), and the Bank of Canada also plays a role. The regulations they adopt for mortgage brokers... View Article
The Canadian real estate market is eroding after the Trump Administration’s new 25% tariff laws imposed on Canada. Canadians are already seeing skyrocketing mortgage rates following the increased costs in construction, causing an already inconvenient real estate market to plummet... View Article
If you inherit a house with a mortgage, you need to be fully aware of the different options and responsibilities involved. Of course, inheriting and taking on another mortgage will obviously impact your finances, but that’s just part of what... View Article
Whether you’re looking at a traditional or private product, the dangers of unlicensed mortgage brokers can spell big trouble for borrowers. Choose the wrong one, and you can face legal issues, hidden terms, and higher fees. Understanding how to protect... View Article
Whether you’re buying or selling, the value of a property in Ontario is a key indicator. Private lenders base their streamlined applications on the property’s equity, including the appraised market value. Understanding what goes into pricing a property is essential.... View Article
A mortgage renewal is the most critical time to avoid pitfalls and mistakes. Due diligence is in order here, and borrowers must shop around, get honest, straightforward information, and watch out for hidden fees. Quite often, getting the best possible... View Article
Remortgaging a property can result in lower monthly payments and lowered interest rates. However, the process can be trickier than advertised. In the middle of the investment process, some borrowers can find themselves completely vulnerable when lenders don’t discuss the... View Article
If you’re applying for a private mortgage, it’s essential to understand the differences between a co-signer and a guarantor and which one is right for you. Both can boost your chances of mortgage approval, but other implications, such as property... View Article
Borrowers looking for a private second mortgage need to understand the importance of home appraisals. Accurate property valuations are essential because private lenders are more interested in equity than credit scores. The equity is that part of any property that’s... View Article
A second mortgage through a private lender is an excellent tool to straighten out your finances and help you through difficulties like a power of sale. However, you’ll need to avoid some common pitfalls when you’re leveraging your home equity... View Article
