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What is Mortgage Insurance in Canada?

By Jonathan McClapNovember 16, 20164 comments

#CANADALEND #mortgagefaq #mortgagehelp #mortgageinsurance

What is Mortgage Insurance in Canada?   I am new to the home buying process and would like to know what mortgage insurance is and if it is something that I really need.   Will it make a difference ...Answer Thank you for your inquiry!    Mortgage insurance in Canada is an insurance policy that reimburses lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance ...

Why should I go to a Mortgage Broker or Agent first?

By GuestNovember 15, 20162 comments

#canadalend #mortgagehelp #mortgagefaq #canadianbroker

Why should I go to a Mortgage Broker/Agent first?  I always assumed that in order to begin the process of purchasing a home I had to go directly to my bank.   Is there any specific reason ...AnswerYou should go to a mortgage broker or agent first because it saves times, hassle and money.   Their job is to get you the best deal possible for your mortgage.   So instead of shopping ...

What Can I Use for a Down Payment?

By Pamela ScottNovember 15, 20162 comments

#canadalend #mortgagefaq #mortgagehelp

What Can I Use for a Down Payment?   I am thinking of purchasing some property in the near future, what can I use for a down payment towards the purchase?   What do I need to take into account ...AnswerWhen it comes to down payments, there are various options available that most people don't even consider. Here are a few examples:    RRSP’s are used as down payments. First time ...

What is the minimum down payment required to purchase a property?

By SpringNovember 15, 20161 comments

#canadalend #mortgagefaq #mortgagehelp

What is the minimum down payment required to purchase a property?   I am new to the home buying process and have just started saving up some money.   What is the minimum down payment required ...AnswerThis is an excellent question and is something that all home buyers need to keep into consideration, here are some examples of the minimum payment requirements needed in order to purchase a property in ...