Mortgage Penalties – Fixed Rate Closed Mortgages
Mortgage Penalties for Fixed Rate Closed Mortgages Mortgage penalties explained for fixed rate closed mortgages. Three (3) months of interest or Interest Rate Differential (IRD), whichever is greater. I covered mortgage penalties for variable rate closed mortgages in a previous post. For further information on mortgage penalties and or to discuss all of your options, [...]
Changes To Mortgage Qualification – New Rules
New Rules for Mortgage Qualification Announced today, effective April 19, 2010, or sooner, there will be three (3) new rules that will apply to the qualification for government backed, insured mortgages (i.e. CMHC, high ratio insured mortgages). The changes are: Minimum down payment for non-owner occupied properties will be increased to 20% of the purchase [...]
No Fee Mortgage Switch Or Transfer
Mortgage Switch or Mortgage Transfer A mortgage “switch” or “transfer” is when you move your mortgage from one financial institution to another at the end of your term. A mortgage switch or transfer can be set up and arranged well in advance so that it proceeds smoothly while also providing several benefits. Contact me to [...]