What does being pre-qualified or pre-approved for a mortgage mean to a buyer? There are differences between being pre-qualified or pre-approved for a mortgage and it can affect your ability as a home buyer, as well as the transaction itself. Pre-qualifying for a mortgage typically doesn’t include an analysis of your credit history or an [...]

As you may well have seen, The Bank of Canada has recently said that they do not plan to increase the Bank of Canada Rate until the end of the second quarter of 2010. As such, Prime is expected to remains at 2.25%; great news for those currently borrowing at floating rates.  Prior to September 08 variable rate mortgage at 0.90% [...]

A mortgage is a loan used to buy a property. As with all loans, how much interest you pay depends on several factors. This link will introduce you to What is a mortgage?  For advice on mortgages, the video, “A guide for mortgage virgins” offers invaluable tips. Watch and listen to Doug Melville, Canada’s Ombudsman for Banking Services and [...]

How do I protect my property against loss or damage? What insurance do I need for my home? There are specific insurance packages for homeowners, tenants, and condo owners. Most cover these three things: 1. The building(s) on your property – Includes your house and other buildings like a separate or detached garage, or workshop. [...]