In today’s fast-paced digital world, many financial institutions advertise “instant” or “60-second” mortgage pre-approvals. While these tools might seem convenient, it’s important to understand what they actually represent — and what they don’t. At Canadian Mortgage Professionals, we believe in setting realistic expectations based on factual information and a full review of your financial situation.…
Learn the difference between a conventional mortgage versus a high ratio mortgage, and how mortgage default insurance comes into play.
What does “prime rate” even mean? In this post, we define “prime rate” in Canada and talk about what that means for home buyers.
Let’s talk about the difference between a fixed and a variable rate, and what is the best choice for you.
What is a blended rate? And how is it different than a fixed or variable rate? In this post, we talk about the differences.
WHAT’S THAT? VARIABLE RATE? An adjustable rate may be right for you. Last time around we talked about fixed interest rates. In our simple example we borrowed $100 for a year, and paid 4.0% interest (or $4) to do so. The total amount owing after 12 months was $104. Variable rate mortgages on the other…
What does “fixed rate” mean? In this post, we talk about what this might mean to a home buyer