Collateral Charge

The Collateral Charge is something that you may see in your mortgage approval that gives you an option to register your mortgage at the Land Title Office for more than what is being funded as your current mortgage amount. Most of the larger banks now offer this service under different names, for example: Scotiabank refers … Read more…

Bridge Financing. What is it?

Would you like to buy a new home before selling your existing? Curious about what bridge financing is? Here are the steps and important items to note: A mortgage application for a pre-approval/purchase is prepared based on the available money for a down payment. If all, or part of, the cash is tied up in … Read more…

Mortgage Renewal

So you completed the paperwork marathon when you bought a home and now your mortgage is up for renewal. What is the process now? When your mortgage is up for renewal, you have a few options available to you: Renew the existing balance with your current lender. Transfer your mortgage balance to a new lender … Read more…