May 30th, 2017
Home Capital Group is the parent company of Canada’s largest non-conforming mortgage lender, Home Trust. At the end of 2016, Home Capital had $26.4 Billion under administration. For people with bad credit or are self-employed, Home Trust was in many cases the first choice for a mortgage. While high-risk mortgage lenders typically offer higher interest rates than banks, the rates at Home Trust were among one of the lowest, and… Continue Reading
Jonathan May 30th, 2017
banks, mortgage trends, private lenders, second mortgages
June 1st, 2016
Is it really possible to get a mortgage after bankruptcy? The answer may surprise you. Yes, it is possible – as long as you are willing to shape up your finances and be patient. Here’s what you need to know about getting a mortgage after your bankruptcy has been discharged or your consumer proposal has been completed.
Factor One – Letting Time Pass
The first factor any lender will take… Continue Reading
ronald June 1st, 2016
private lenders, second mortgages
April 27th, 2016
Did you know that lenders check credit scores to decide if a mortgage application should be approved or declined?
When you apply for a mortgage, one of the first things your lender does is look up your credit score. Your score is, in essence, a number that gives a quick snapshot of how well you manage your finances. Credit scores can range from about 300 to 900 points. The higher… Continue Reading
ronald April 27th, 2016
mortgage trends, real estate financing, second mortgages
April 12th, 2016
Did you know your lender can take away your home?
Unfortunately, it’s a lesson some homeowners learn the hard way.Take the case of Laura Laing and Glenn Gourley of Toronto. Their plan to flip two real estate properties almost left them – and their five children – broke and homeless.
Laing and Gourley worked hard. They had good intentions. But they realized too late that they were dealing with a… Continue Reading
ronald April 12th, 2016
December 22nd, 2015
When it comes to financing, the rules vary based on the real estate you are buying. Today, let’s take a look at some of the differences in financing various types of properties.
Townhomes, Bungalows and Other Freehold Homes
Buying a freehold home for you and your family is the simplest of all real estate to finance. Freehold properties can include townhomes, semi-detached, bungalows and two story homes – any real… Continue Reading
ronald December 22nd, 2015
September 29th, 2015
Buying a home is exciting. House-hunting, comparing condos to townhomes, looking at number of bedrooms and outdoor space… there’s a lot to consider.
Apart from the fun stuff, there are also many financial details to take care of. First you’ll need to qualify for a mortgage. Then you’ll have to learn about your options, and decide which are best for you. All of this information can feel a little overwhelming… Continue Reading
ronald September 29th, 2015
mortgage brokers, mortgage rates, second mortgages
August 11th, 2015
Did you know you could have more than one mortgage at the same time? Depending on how much equity is in your home, a second mortgage might be a good option for a low interest loan.
What’s the difference between a first mortgage and a second mortgage? Let’s find out and look at the advantages and disadvantages of both.
A “first mortgage” is what most people think of… Continue Reading
ronald August 11th, 2015
banks, mortgage brokers, private lenders, second mortgages