16 Feb

Understanding Your Mortgage Rate

General

Posted by: Maria Solverson

It might surprise you to know there are 10 major factors that affect the interest you will pay on your mortgage. Knowing these factors will not only prepare you for the mortgage process but will also help you better understand the mortgage rates available to you. Credit score Not surprisingly, your credit score is one […]

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22 Jan

How Mortgage Rates Are Determined

General

Posted by: Maria Solverson

Chances are you’ve heard of the two most common mortgage product types: fixed and variable (sometimes called adjustable). But did you know that interest rates for each type are determined by different factors? While both fixed and variable mortgage rates are impacted by a consumer’s financial health, they are also affected by two distinct large-scale […]

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30 Nov

Til Debt Do Us Part: Mortgage Advice for Divorce

Mortgage Tips

Posted by: Maria Solverson

When couples divorce, they not only divide assets—they also divide debts. Usually, a couple’s biggest shared debt is the mortgage on the family home. Couples going through a separation or divorce have a few options when it comes to dealing with a mortgage. Sell the Home Selling your home is the most straightforward option from […]

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12 Oct

Pros and Cons of Condos with Post-Tension Cables

Mortgage Tips

Posted by: Maria Solverson

Condos are built using various construction methods, and each have their benefits and limitations. One method you might come across while condo shopping is post-tension. This low-cost technique for reinforcing concrete works by placing prestressed steel cables in plastic sleeves within concrete. The cables are pulled tight (tensioned) to add strength. If you’re questioning whether […]

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22 Sep

5 Things To Know Before Buying A Rural Property

General

Posted by: Maria Solverson

As cities continue to grow bigger and busier, a rural home beyond those limits can seem like a dream come true! However, before you dive into country living, there are a few things you should know! Especially, how different it can be to qualify for a mortgage. 1. CHECK THE ZONING When it comes to buying […]

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22 Aug

25 Secrets Your Banker Doesn’t Want You to Know

General

Posted by: Maria Solverson

Twenty-five or thirty years can sound like an impossibly long time to service a loan – and for many of us, it is. If you are looking to pay off your mortgage faster, here are some tried-and-true tactics to get you to financial freedom that much sooner! Make a Double Mortgage Payment: A double payment once […]

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8 Jul

Purchase Plus Improvements Mortgage

General

Posted by: Maria Solverson

Fixer-uppers come at great prices. But let’s face it—updating a home can carry a hefty price tag. Thankfully, a Purchase Plus Improvements Mortgage allows you to roll renovation costs into your mortgage with as little as 5% down. One easy-to-manage loan package Purchase Plus adds the cost of renovations to your home’s purchase price, creating […]

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11 Jun

Roadblocks To Avoid On The Way To Mortgage Approval

General

Posted by: Maria Solverson

Having your home purchase offer accepted can feel like the last stop on the homeownership journey. But there are in fact a few milestones left until your final destination. In the time between having your offer accepted and closing on your new home, your mortgage application must be reviewed and approved. Several roadblocks can appear […]

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18 May

3 Questions to Answer Before Buying Your First Home

General

Posted by: Maria Solverson

Purchasing your first home is a significant financial commitment. It’s also one of the biggest decisions you will ever make. This is why it’s so important to be realistic about your current circumstances and plan your purchase carefully. To help you decide whether now is the time to make your big move, ask yourself the […]

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7 Dec

Purchase Possibilities When Selling Isn’t Probable!

General

Posted by: Maria Solverson

Current home owners can still purchase a new owner occupied property with as little as 5% down. This 5% down payment can be gifted, saved or even borrowed if the applicant is strong enough, subject to insurer approval. This is a great option for home buyers who are struggling to sell their homes, or who, […]

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