Nearly 1 million Canadians deferred over $1 billion in monthly mortgage payments during the pandemic. This number highlights the wave of financial instability that has inundated many nationwide. If you’re one of those struggling to make a mortgage payment, or if you...
Are you aware that over 800,000 Canadians used mortgage deferrals from banks and lenders in 2021? These programs are ending soon, so borrowers will have to start making deferred payments and new ones. On the other hand, lenders must protect their interests, so they...
Owning a home is more than just having a place to call your own; it's also a gateway to a valuable financial resource known as home equity. However, the world of home equity loans used for businesses is not without its complexities and potential pitfalls. Before you...
Considering a private mortgage could be a viable solution if you find yourself ineligible for a conventional home loan. However, while a private mortgage presents an alternate avenue to owning a home, treading carefully is imperative when considering this route. One...
A strong credit score is a key that unlocks doors to premium credit cards, favorable loan options, and enticing interest rates. However, the territory of bad credit history mortgage, typically characterized by FICO scores between 300 and 579 or ranging from 300 to...
A home equity loan empowers you to settle debts, undertake home enhancements, and facilitate new acquisitions. However, for every wise home equity decision, there’s an equal possibility of missteps. This blog explores intelligent approaches to leverage home equity for...
Are you considering obtaining a loan to fund home improvements, consolidate debt, or cover significant expenses? Home equity loans offer an option for a substantial amount of money; however, there are pros and cons to weigh before getting one. A home equity loan has...
Are you aching to alleviate your financial burden? With debt management shaping financial decisions for many Canadians, it is crucial to gain insights and understand your options thoroughly. While it might appear complex, we're here to simplify. In this blog, we'll...
In 2019, an estimated 460,000 mortgage applications for single-family homes were denied under the Home Mortgage Disclosure Act—a rate of 8% of all home purchase mortgages submitted. It's normal to worry about the approval of your home equity loan. But don't worry....
Mortgage borrowers can access their home equity without selling it by getting a Home Equity Line of Credit (HELOC). However, if your application doesn't fulfill the requirements, you may find that you are not eligible for this type of loan. But don't worry. There are...
If you are Canadian homeowner and want to get a second loan on your mortgage, then it is possible by taking out equity from your property. Second loan on a mortgage commonly known as Second Mortgage is used by homeowners to fulfill various financial needs such as home...
Unexpected expenses can arise at any moment, leaving families scrambling to find the funds to cover them. For homeowners in Canada there is a powerful tool called Home Equity is available at their action. By utilizing home equity loans and home equity lines of credit,...
Owning a home brings the advantage of a valuable financial resource – building equity. This equity can be tapped into through a second mortgage, like a one-time loan or a revolving HELOC. However, each option also has drawbacks, so you must weigh them before deciding....