11 Apr

Big bank report points to importance of service brokers provide

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Posted by: K.C. Scherpenberg

by Justin da Rosa 11 Apr 2017   Brokers have for years boasted about their ability to find the best mortgage for clients — by considering more than just the best rate — and a new study suggests young homebuyers need that service now more than ever. When it comes to buying a home, it’s […]

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15 Mar

Deadline is here.. CMHC to Increase Mortgage Insurance Premiums

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Posted by: K.C. Scherpenberg

CMHC to Increase Mortgage Insurance Premiums OTTAWA, January 17, 2017 — CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. “We do not expect the higher premiums to have a […]

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3 Feb

What Does It Actually Mean To Co-sign For a Mortgage?

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Posted by: K.C. Scherpenberg

Great insight from our colleague Pam Pinkert,   What Does It Actually Mean To Co-sign For a Mortgage? – Dominion Lending Centres 3 Feb 2017 What Does It Actually Mean To Co-sign For a Mortgage? There seems to be some confusion about what it actually means to co-sign on a mortgage and you know that […]

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17 Jan

CMHC to Increase Mortgage Insurance Premiums

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Posted by: K.C. Scherpenberg

CMHC to Increase Mortgage Insurance Premiums OTTAWA, January 17, 2017 — CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. “We do not expect the higher premiums to have a significant […]

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9 Jan

How Your Credit Score Affects Your Purchase Price.

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Posted by: K.C. Scherpenberg

9 Jan 2017 How Your Credit Score Affects Your Purchase Price Your Credit Score that the lenders use, not to be mistaken by the Credit Risk Score you see when you check your own credit, is one aspect of determining your borrowing power. The better your score, the length of established credit and your payment […]

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29 Jul

B.C. Takes the Plunge on Taxing Foreign Real Estate Investors

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Posted by: K.C. Scherpenberg

From: Economics, TD Sent: Tuesday, July 26, 2016 10:50 AM Subject: Data Release: B.C. Makes Changes To Housing Legislation (July 2016)   TD Economics Data Release: B.C. Takes the Plunge on Taxing Foreign Real Estate Investors   On July 25th, the B.C. government introduced a four-pronged plan to help improve housing affordability.    First, as of […]

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11 Mar

Mortgage prepayment penalties are among the top five most complained about banking issues.

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Posted by: K.C. Scherpenberg

Mortgage prepayment penalties are among the top five most complained about banking issues. The annual report from the Ombudsman for Banking Services and Investments reveals that there were 278 complaints filed in 2015, up 21 per cent from the previous year. Fraud and account collections were the top two, mortgage prepayment penalties were third with […]

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4 Dec

Ontario won�t expand the municipal land transfer tax beyond Toronto�s borders

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Posted by: K.C. Scherpenberg

Ontario won’t expand the municipal land transfer tax beyond Toronto’s borders RepublishReprint Ashley Csanady | December 1, 2015 | Last Updated: Dec 1 9:10 PM ETMore from Ashley Csanady | @AshleyCsanady Postmedia FilesOntario won’t be allowing municipalities outside Toronto to levy a new land transfer tax on home sales. After weeks of dithering, the Ontario government […]

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