Home Equity Assistance: 4 Safe Ways To Use Your Home’s Equity

 

Nearly 7 out of 10 Canadians own their homes. By taking out a Home Equity Line of Credit (HELOC), you can improve your cash flow for a variety of situations.

However, in terms of your financial well-being, some reasons to use your home’s equity are safer than others.

Here are 4 safe ways and 2 not-so-smart reasons to use your home’s equity.


Home Purchase Offer: Here’s How To Do It The Right Way!

Are you prepared to make a home purchase offer?

This can be an exciting time, but if you’re not a lawyer, realtor or professional negotiator by trade, you might worry about making a serious mistake. Here’s how to do it the right way.

Making a Offer to Purchase a Home

The home buying process can be an emotional roller coaster. It’s hard not to get a sentimental attachment to a certain property. It’s easy to forget how much you can truly afford in all the excitement.

Of course, you need to find a house within your price range, but how can you make a bid that is satisfactory to the seller, but within your budget?

Here are guidelines on what to include in an offer to purchase, along with common mistakes to avoid.


Need to Apply For a House Loan Online?

Remember These 4 Tips And 3 Steps

Applying for a house loan online can be a very convenient option, allowing you to compare house loan types side-by-side, which improves your decision-making.

However, before you arrive at the final step of selecting criteria, you should make sure that all of your “ducks are in a row.”

Remember these 4 tips for how to get a mortgage.

After you have created a solid financial foundation, only then should you start to fill out any online application forms.


Rent or Buy a Home?

Use These 3 Pro Tips To Help You Decide

 

Doesn’t it seem like everyone around you is buying a home these days?

For good reason, there are so many advantages to home ownership.

How about you?

Are you currently renting? Ever wonder if it is better to rent or buy a home for your situation?

Use these 3 pro tips to help you decide.


Long VS Short Term Mortgage: Which is Better for You?

 

Our Canadian mortgage market has created a flexible system for finding home finance.

Canadian homeowners can choose between a variety of lengths for their mortgages, which are loosely categorized as short or long term mortgages.

Read on to discover which type is better for you.


Variable Rate Mortgage:

Definition & How it Works

 

If you prefer flexibility in your mortgage rate, a variable rate mortgage or VRM is exactly what you are looking for.  

From time to time a variable rate mortgage will save you money and free up cash flow which allows you the ability to put money back into your home, your future.

Today we take a closer look at a variable rate mortgage definition, how a VRM works, along with who might benefit the most from this type of housing loan.


Is Lender Paid Mortgage Insurance Necessary?

 

Mortgage insurance provides protection in case a homeowner runs into difficulties repaying his loan.

Lender-paid mortgage insurance (LPMI) can be an effective risk management tool allowing lenders to offer more attractive financial packages to borrowers who lack good credit scores or enough money for a large down payment.

The financier helps these higher risk borrowers pay their insurance premiums with LPMI.

But is lender paid mortgage insurance truly necessary?

We dive deeper into the subject in today’s blog post.

 

 


Experts Claim Best Way to Pay Off Credit Card Debt Is …

 

Bill collecting courtesy calls early in the morning can be a rude awakening that ruins your day.

You might have rushed to the telephone hoping to hear from a family member, but on the other end is your credit card company reminding you of your failure to pay your bill. This negative experience can be deflating, especially when the bill collectors keep calling all day or week long.

Unfortunately, more and more Canadians are in this same predicament.

On November 26, 2014, reporter Heather Loney stated that “for every dollar that Canadians earn, we owe $1.63 to credit card companies, banks or other lenders.”

As imported product prices increase, it has become even more difficult for Canadians to make ends meet.


Top 4 Advantages of Private Home Mortgage Lenders

 

Is the Canadian Government doing a good job of encouraging institutional banks to make mortgages accessible to all citizens?

For some the answer is no.

Today we look at a home loan / equity lender alternative that some individuals may find better tailored to fit their needs.

Gradually, more individuals are learning about the key advantages of private home mortgage lenders.


Why Financing a Home Purchase on Christmas Eve Might Be Wise

 

Christmas is a wonderful time of the year when you can sit back, reminisce and enjoy your family members.

Ontario tends to slow down as people take time off from their busy schedules. But, after you relax for a bit, you might realize that financing a home purchase on Christmas Eve might be quite wise.

Just as some of the most wealthy and successful entrepreneurs think “outside the box,” you might also use an unorthodox approach for financial gain.

Financing your holiday home on Christmas Eve can help you pay for gifts, consolidate debt, generate rental income and enjoy special tax benefits.

Here is your guide to Christmas home buying.