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Gregory van Duyse - ArticlesIs it a Better Idea to Make your Home Loan Payments Weekly, Every Two Weeks, or Monthly? - Prêt HypothécaireThe more often you make the payments, the more savings, even if you do not increase the amount paid. If it is possible, make your payments each week, if not, make them every two weeks - hypothèque. The Most Common Situations That Lead to a Penalty (taux Hypothecaire)No borrower wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some unusual types of open mortgages, have penalties for prepayments. The question of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them. How to Save on Mortgage Penalities (hypotheque)No borrower wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some unusual types of open mortgages, have penalties for prepayments. The question of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them. How are Calculated Mortgage Penalities (hypotheque)No one wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some rare types of open mortgages, have penalties for prepayments. The subject of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them. The Variable Mortgage Strategy - HypothequeThe interest rate of a variable rate home loan changes with the base rate of the large Canadian banks. The lender does not give you a fixed rate, but rather a rabais on the base rate. This is the reason that variable rates are expressed as a base rate less a percentage.
If the base rate, for example, is 6.00%, and the bank quotes “base rate minus .90%”, this means that the variable rate loan will be 5.10% for the length of time that this base rate is in effect. If the base rate is lowered by the Bank of Canada, the loan rate is likewise lowered: a new base rate of 5.25% will mean a variable mortgage rate of 4.35% for that period. The Bank of Canada fixes this rate 8 times per year. Note that this rate may be refixed at the same rate (no change), so the base rate does not necessarily have to change 8 times a year. The Fears of Mortgage LendersOnce you understand what mortgage lenders don’t want to face, you will better understand whether or not your application will be viewed in a good light by the mortgage lenders you apply to - taux hypothecaire.
A lender has two big fears:
- Losing Time
- Losing money. Should you Work With a Mortgage Broker, a Mortgage Marketer, or a Bank Representative?The service of the person with whom you will work is most important. What’s Best to Work With, With a Mortgage Broker, a Mortgage Marketer, or a Bank Representative?Of this you can be sure: the expertise and integrity of whatever advisor - taux hypothecaire you work with will make a big difference. Yes, there are expert local bank branch representatives, expert mortgage marketers and expert mortgage brokers. And then, there are those who do not fully understand this field.
It is the person in the position that is most important. Why Expertise is a Most Important Quality of Any Mortgage ConsultantThis concept allows a mortgage consultant to be an expert in a certain field. This is becoming more important as the field of home loans becomes more competitive as well as more complex. I think more and more mortgage consultants will start to specialize in this way - courtier hypothécaire. Better to be a master of one trade than a jack of all trades and master of none! Why Integrity is the Most Important Quality of Any Mortgage ConsultantIntegrity is said to bethe quality of an honest person, who is not able to be corrupted and who behaves in a manner that is above reproach. Is the home loan broker you are going to work with have this quality, so that he can put your interests before those of his bank? Make sure the answer to this question is YES - courtier hypothecaire.
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