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Tag: Buying a Home

Warning: Pre-Payment Penalties Ahead

Six out of ten Canadian homeowners will break their fixed-rate mortgage at an average of 38 months. They break their existing mortgage agreement early and in almost every case incur pre-payment penalties. Most homeowners had no idea of the nature and size of penalty coming their way because bankers and Brokers historically were not trained […]

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Subject Free Offers – Another Landmine Lurking

60-day notice to vacate… …words every Mortgage Broker longs to see in an offer written on a tenanted property, in particular when the buyer has less than a 20% down payment. For a client putting less than 20% down, (or for a purchase requiring Mortgage Insurance) the approval hinges on the blessing of one of […]

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