Category Archives: Mortgage Tips

The Pitfalls of Rent-to-Own Contracts

There is NO guarantee that you will qualify for a mortgage at the end of your term; hence you may lose your deposit! You are buying a home based on an estimated future value, so you could be paying an over-inflated price.  What happens if your house de-values over the term of your R20 contract?…
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Don’t jump the gun locking into a fixed-rate mortgage.

With mortgage rates likely about as low as they can go, it may seem like  a sure bet to lock into a fixed rate.  But as a homeowner you should  focus less on rates and more on the bigger issues of affordability, eligibility and most importantly, maintaining good credit. A fixed mortgage is locked in for…
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Is your mortgage portable?

Mortgage Tip:  If you're planning on moving before your mortgage term is up, you need to inform your mortgage expert about your plans.  He will make sure that your mortgage is portable - meaning you can take it, along with your existing interest rate, to your new home without incurring any fees. You also want to…
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Will your bank notify you of better rates or products?

Mortgage Tip:  Many lenders and banks renew existing clients at the posted rate, rather than the discounted rate. Your Mortgage broker will ensure that you're notified of your mortgage's upcoming renewal and the best mortgage rates and products available, so that you have ample time to choose the mortgage best for you.
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