Buying a home is a really exciting experience for people. Making a mortgage payment for the rest of your life is not as exciting of a prospect for you. This is one of the many reasons why people would like to pay off their mortgage payments as early as possible. Since this is not as easy as just cutting a check, there are methods that…
In the world of life insurance there are dozens of products. They have catchy names such as Genesis, Estatemaster, Exce Life, Estate Advantage, and Wealth Advantage. While these all sound riveting, they are all the same two types of insurance! Ignore the fancy names. All you need to know are these two basic forms of life insurance and a few sub-categories: Temporary Insurance:…
You are now at the point where you know some differences between life and mortgage insurance. You now also know the steps involved with getting life insurance, but who are the people involved in this process? What do they do? Here is some key terminology that you need to know. Insurance Agent/Broker This is the person who is responsible for the sales part of…
It is time to consider life insurance when you take on a large financial liability that requires an ongoing need for protection. This can be a combination of buying a home, being married, having children, taking on substantial consumer debt, or owning a business. Here are some steps to follow when you are considering buying life insurance. Step 1 Seek out an insurance agent.…
Talking about ones own demise is never easy or fun, but it is essential. When protecting your family from unexpected loss the mortgage can take the center stage. You can’t have loved ones wondering if they can afford the family house or not. Life and mortgage insurance seem similar, but when you dig deeper they show their true colors. Lets ask some questions and see how they both…
Photo Credit: Globe and Mail When shopping for a mortgage a lot of first-time homebuyers make the mistake of only looking for the lowest mortgage rate. Although your mortgage rate is very important, pre-payment privileges can be just as important, especially if you plan to pay off your mortgage a lot sooner. Homebuyers have the choice between two types of…
Two of the most costly closing costs for homebuyers are home inspections and legal fees. Although most homebuyers know the importance of a home inspection, it’s important not to overlook the crucial role your real estate lawyer plays. Buying a home is a big investment – you’ll want to make sure your best legal interests are looked after. An experienced real estate lawyer will ensure…
Photo Credit: Steve Cassidy Mortgage lenders usually have mortgage penalty calculators on their websites. Here are the calculators for the largest lenders: National Bank of Canada Bank of Montreal CIBC Scotiabank Manulife Bank Laurentian Bank TD Canada Trust Royal Bank When you’re shopping for a mortgage, probably the last thing on your mind is mortgage penalties. If you’re a savvy homebuyer you’ll look for the…
[color-box] Next week we will be publishing a complete, straight forward guide on choosing life insurance. It will be completely transparent and will remove a lot of the confusion surrounding life insurance.[/color-box] Talking about ones own demise is never easy or fun, but it is essential. When protecting your family from unexpected loss the mortgage can take the center stage. You can’t have loved ones wondering if…
The once red hot real estate market has had some air let out of its balloon. Last year the federal government tightened mortgage rules, capping the maximum mortgage amortization at 25 years for high ratio mortgages (buyers with less than a 20 per cent down payment) to avoid a major housing correction. Vancouver has been among the hardest hit – home sales reached their lowest…
