What Is an Interest Rate Differential (IRD) Penalty?
If you’re a homeowner or potential homebuyer in Canada, understanding interest rate differential (IRD) is crucial when dealing with mortgages and refinancing. The IRD penalty is an essential concept that comes into play for borrowers who wish to break their mortgage contract early or refinance. In this article, we’ll dive into the intricacies of IRD, […]
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Multigenerational Mortgages
Multigenerational homes are a great way to keep a property in the family. This arrangement is not new to our society; intergenerational living has existed since early human history and continues to be a cultural norm in many parts of the world — and it’s gaining popularity in Canada. This shift raises questions about home […]
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Can You Get a Mortgage without a Home Inspection?
The mortgage approval process can be an exciting albeit tumultuous journey. It’s an opportunity for you to evaluate your finances and ensure they are in order before you purchase a home. With plenty of paperwork, it’s easy to get caught up in the process, and you might be worried you are missing a step, such […]
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Tips for First-Time Home Buyers
Table of Contents1 Mortgage Brokers in Ottawa Offer Advice to Make First-Time Home Buying Less Overwhelming1.1 Choosing Your First Mortgage1.2 Porting Options1.3 Low-Interest Rates and Prepayments1.4 Terms and Rates1.5 Buying Your First Home1.6 Accountants1.7 Realtors1.8 Lawyers/Notaries1.9 Mortgage Brokers2 How Mortgage Brokers in Ottawa Make Securing a Mortgage Much Easier3 Why Mortgage Brokers?3.1 Their Services Are […]
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