We are very grateful to our dear friend Doina Biolan for our recent mortgage renewal. It was a very pleasant experience, even if we are located in Edmonton and our mortgage broker is located in Calgary. We are impressed with Doina’s honesty , integrity and professionalism as well as exceptional attention to detail, efficient communication skills and open heart to our worries and needs. We a ...
Blog by DOINA BIOLAN B.Comm
CMHC Increasing Insurance Premiums Effective March 17, 2017
CMHC ( Canada Mortgage and Insurance Corporation) is hiking mortgage insurance rates for the third time in three years (LTVs affected are 75% and greater) . Premiums are effective March 17, 2017.
At 80% LTV the premium almost doubles from 1.25% to 2.40%, this will greatly affect the monoline lenders who pay this pr ...
Confused by mortgage insurance?
If you put less than 20% down on a property, then you’re likely familiar with mortgage default insurance, some people refer to this as CMHC insurance. Truth be told, there are three providers of this type of insurance, CMHC, Genworth and Canada Guaranty. That said, mortgage default insurance should not to be mistaken for mortgage creditor insurance. ...
Further to our announcement on October 17, 2016, lenders continue to make changes to their business resulting from the changes announced from the Government of Canada on October 3, 2016. Specifically, the Department of Finance released a Technical Backgrounder: Housing Insurance rules and Income Tax Proposals (Revised October 14, 2016).
As you are aware, mortgages are insurable in Canada on ...
Consolidate your debt with a personal loan with fixed monthly payment WITHOUT TOUCHING YOUR MORTGAGE!!
Rates start at 6% , 2 minutes application, approval in 24 hrs, money in your bank account in maximum 48 hrs!
Same rules apply for a:
- renova ...
Thinking of buying a vacation property?
When the weather in Canada turns cold and winter sets in, a lot of us think about a blue sky vacation, others think about buying a vacation property in the U.S. sunbelt or even in British Columbia where the weather is milder. Still others enjoy winter and look for a winter vacation property here or in the US. While the allure of long beach w ...