How do Mortgage Brokers Help?

General Toni Ceniti 29 Jan

How Do Mortgage Brokers Help?
By: Geoff Lee

Mortgage Brokers are meant to be professionals that reduce the stressful task of putting a mortgage application together and finding the best home for your mortgage. A good Mortgage Broker will explain all your loan options and suggest the programs that could be financially beneficial. When you go to the bank and speak with that same financial officer, they will only be able to provide you with information related to their bank. Simply put, they only know the products offered by the bank they work for and are not about to try and suggest other products offered by other banks, even if that is a better option for you.

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Accelerated Bi-Weekly vs. Bi-Weekly Payments

General Toni Ceniti 21 Jan

Accelerated Bi-Weekly vs. Bi-Weekly Payments
By: Brent Shepheard

When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different payment options will affect your repayment schedule.

So what are your options?

In general, most lenders will offer the borrower the option to decide which repayment schedule fits best with their lifestyle. The options include monthly, semi-monthly, bi-weekly, accelerated bi-weekly, weekly and accelerated weekly payments. Let’s use some simple math to determine which payment frequency will assist you in paying back your mortgage in the shortest time possible.

For the purposes of this exercise and to keep things simple, let’s use $100,000 as our mortgage amount. We’ll use a 5 year fixed rate at 2.54% with a 25 year amortization period and interest being compounded semi-annually.

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Choosing the Right Mortgage

General Toni Ceniti 15 Jan

 

DLC BLOG FOR JANUARY 15th
Choosing the Right Mortgage
By: Pauline Tonkin

Choosing the Right MortgageChoosing the right mortgage to meet your needs is a process best handled with the support of a mortgage professional. Just as there are many homes to choose from, there are many types of mortgage financing options.

Choosing the right mortgage can save you thousands of dollars and give you the flexibility to make informed choices in your life. It is important to take the time to review each option considering your personal and financial goals and resources. This will help you make the best decision and get you into the home of your dreams.

An important first step in choosing the right mortgage begins with asking yourself a few questions.

      Click here to read more…..https://dominionlending.ca/news/choosing-the-right-mortgage/

 

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