Do you know what an assumable mortgage is? An assumable mortgage allows you to take over or assume someone else’s mortgage and their property. It also allows someone else to take over your mortgage and your property. The terms of the original mortgage must stay the same. This is something you may consider if: You’re…
If you’re considering divorce or working through a divorce you are probably wondering how this affects your mortgage with your partner. In the event of a divorce, the mortgage is paid out and any supplementary funds are sent to a lawyer’s trust account until a Separation Agreement can instruct how the funds are to be…
If you’re a first-time homebuyer, you’ll want to explore this option for saving for your downpayment! I’m excited about its opportunities for my first-time homebuying clients!
There are so many benefits to getting pre-approved for a mortgage prior to beginning your new home search. It allows you to know the budget within which you should search and it also allows you to confidently make an offer when you’re ready. The other big benefit to getting pre-approved is that it offers you…
Porting your mortgage entails taking your existing mortgage – along with its current rate and terms – from one property and transferring it to another. You’re only allowed to port your mortgage if you’re purchasing a new property at the same time you’re selling your old one. Unlike mortgage refinancing, porting a mortgage doesn’t require…
One of the many reasons why my clients are investing in real estate is because of the great financial return. Higher risk tends to generate higher returns. So, in the stock market, for example, you may see individual stocks performing very well. As a basket of stocks, the risk is reduced and the returns are…
You can begin your mortgage renewal process as early as 120 days (4 months) before the end of your current term, even if you haven’t yet received your renewal notice. Lenders are only legally required to send your renewal statement at least 21 days before the deadline. Starting the process earlier can allow you to…
A home renovation can be life-changing! It can add to the value of your home, the aesthetic appeal of your property and also the functionality of your home for you and your family. It can also be very expensive! I work with clients to add the cost of their renovation to their mortgages. There is…
