Huge Mortgage Penalties

September 15, 2020September 15, 2020 By mt-admin

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Why Big Banks Fixed Mortgage Rates = Huge Mortgage Penalties There has never been a better time to own a home than now! Homeowners are enjoying the record low rates currently available. Rates for a 5-year fixed term can be found around 2 percent. While low-interest rates are good if…

Prime Rate Holds

September 9, 2020September 9, 2020 By mt-admin

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The prime rate stays the same. I hope you have all continued to stay safe and thoroughly enjoyed your Summer with your family and loved ones. The world has changed drastically since March and there is no doubt back to school will pose its own set of challenges. Set new…

Common Scams to Avoid

August 31, 2020September 1, 2020 By mt-admin

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Here are a few common scams to avoid in 2020. Did you know that 34% of Canadians have fallen victim to fraud, at a cost of $100 million each year? A whopping $20-million of which comes from retirees. Here are 2 of the most common scams. The Grandparent Scam This…

Save Money today!

August 8, 2020August 8, 2020 By mt-admin

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Save money today by converting secured lines of credit (HELOC) into a mortgage. Today many homeowners are real estate rich but liquid cash poor. Having a costly home repair such as a leaky roof can easily cost $10,000, however, most homeowners do not have the liquid capital to easily cover…

Biweekly payments

July 17, 2020July 17, 2020 By mt-admin

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Benefits of biweekly payments: Financing an Edmonton home means you will likely have mortgage payments to make. In Canada, you have 5 payment options to choose from. You can pay monthly, biweekly, biweekly accelerated, and weekly and weekly accelerated. The most popular payment option is the biweekly accelerated as it…

Cash Back Mortgages

July 1, 2020July 17, 2020 By mt-admin

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Cash Back Mortgages, What You Need to Know: Purchasing a home is a major decision and takes a lot of planning. It requires a huge chunk of your savings to finance the purchase. After saving up for the down payment, you may realize that there isn’t enough money left over…

High ratio mortgage?

June 18, 2020September 9, 2020 By mt-admin

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When you purchase a home with less than 20% down payment it is called a high ratio mortgage. The “high-ratio” part refers to the ratio of the loan to the purchase price, also known as loan-to-value. If there is less than 20% down payment on a purchase, an insurance premium…

Variable vs Fixed Rate?

June 11, 2020June 22, 2020 By mt-admin

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The differences between a variable vs fixed-rate mortgage are important when considering a loan. Whether you are buying, refinancing, or doing a debt consolidation, understanding the differences between the two can help save you money and meet your financial goals. • A Variable rate mortgage is where the mortgage payment…

Early Mortgage Renewal

June 3, 2020June 25, 2020 By mt-admin

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Canadians have been keeping track of the low-interest rates and wonder whether an early mortgage renewal could save them money. An early mortgage renewal or renewal, in general, provides an opportunity to negotiate the interest rate. It's an opportunity to capitalize on today’s low-interest rates before they go up. An…

Vacation Homes

May 28, 2020June 25, 2020 By mt-admin

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Dreaming of ducks and docs at a vacation home as a retreat from concrete and congestion? You are not alone. Many people dream to own their own private little getaway whether on a lake or in the mountains. Financing these property types is very different than financing a home in…

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