Mortgage Blog

mortgage

Unlock the Benefits of Mortgage Refinancing with Ottawa Mortgage Services

Mortgage refinancing can be a powerful financial tool for homeowners, offering potential benefits like lower interest rates, reduced monthly payments, and better alignment with your financial objectives. However, like any financial decision, it is crucial to carefully weigh the advantages and evaluate whether refinancing your mortgage is the right move

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Mortgage loan agreement application with key on house shaped keyring

Mortgage Approval Process for Self-Employed Individuals in Ottawa

Self-employed individuals make up a growing portion of Ottawa’s workforce, contributing to the local economy through various professions such as freelancers, entrepreneurs, contractors, and small-business owners. While being self-employed offers the freedom and flexibility to chart one’s own professional path, it can also create unique challenges when applying for a

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mortgage

Mortgage Pre-Approval for the Self-Employed: Insights and Strategies

Homebuying is an exciting and monumental milestone for many, but navigating the mortgage pre-approval process can be particularly challenging for self-employed individuals. As a self-employed homebuyer in Ottawa, understanding the mortgage pre-approval process and its unique considerations is essential for effectively preparing and optimizing your chances of success. By partnering

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Mortgage Lending

Private Mortgage Lending for Unconventional Investment Opportunities in Ottawa

As a real estate investor in Ottawa, you may encounter unconventional investment opportunities or scenarios that fall outside the parameters of traditional mortgage lending. When seeking alternative financing solutions for these unique real estate endeavours, private mortgage lending can play a pivotal role. By understanding the potential of private mortgage

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house

Mortgage Refinancing for Debt Consolidation: An Ottawa Homeowner’s Checklist

As Ottawa homeowners grapple with high-interest debt, such as credit cards and personal loans, mortgage refinancing can serve as an effective solution for consolidating and managing this financial burden. However, determining if this approach is right for your unique circumstances can be challenging. This comprehensive checklist is designed to help

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mortgage

Navigating the Mortgage Process for Self-Employed Homebuyers in Ottawa

The path to homeownership can be both exciting and challenging, particularly for self-employed individuals navigating the mortgage application process. While the freedom and flexibility of self-employment come with numerous benefits, it can also create unique hurdles when applying for a mortgage in Ottawa. Ensuring you have the right support and

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mortgage refinancing

Refinancing Your Mortgage: When, Why, and How to Get Started in Ottawa

For many Ottawa homeowners, mortgage refinancing can be a powerful financial tool, providing the opportunity to lower interest rates, consolidate debt, or access home equity for various purposes. However, understanding the intricacies of mortgage refinancing and knowing when, why, and how to get started can be overwhelming.  This informative guide

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Real Estate Market

Exploring the Ottawa Real Estate Market: A Guide for First-Time Home Buyers

Navigating the housing market for the first time can be an overwhelming experience, laden with many complex processes, financial considerations, and strategic decisions. This is particularly true in a vibrant, competitive real estate landscape like Ottawa.  For those embarking on this exciting homeownership journey in Canada’s capital, having a roadmap

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mortgage

The Role of a Mortgage Agent in Your Home Buying Journey

Navigating the mortgage application process and purchasing a home can be overwhelming for many Ottawa homebuyers. Mortgage agents play an integral role in providing expert guidance and personalized support throughout this journey to ensure a seamless and rewarding experience. In this article, we delve into the role of a mortgage

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mortgage

A Comprehensive Guide to Commercial Mortgages in Ottawa

Commercial mortgages can be a vital component in the growth and success of your Ottawa-based business, allowing you to acquire properties for expansion or fund large-scale infrastructure projects. However, commercial mortgages differ significantly from residential mortgages in terms of eligibility criteria, products, interest rates, and more. This comprehensive guide aims

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mortgage

Secure Mortgage Success for Self-Employed Individuals

As a self-employed individual, navigating the mortgage application process can be particularly challenging due to the unique financial circumstances associated with entrepreneurship. Lenders often perceive self-employed applicants as higher-risk borrowers, resulting in stricter documentation requirements and potentially less favourable mortgage rates. However, with the right preparation, guidance, and strategies, self-employed

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home buyer

Embark On Your Journey as a First-Time Home Buyer with Confidence

Embarking on the journey of becoming a first-time home buyer is undeniably an exciting and life-changing milestone. However, it can also be a complex and overwhelming experience, given the various financial decisions and logistic considerations involved. As a first-time home buyer, it is crucial to understand the ins and outs

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Commercial Mortgage

Commercial Mortgages Simplified: Trusted Expertise from Ottawa Mortgage Services

Commercial mortgages can be a valuable financing option for investors looking to acquire commercial properties, expand existing businesses, or launch new ventures. However, navigating the complex world of commercial mortgages can be daunting without a solid understanding of the landscape and expert guidance. In this educational resource, we will provide

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mortgage

Securing a Mortgage for Self-Employed Individuals with Expert Guidance

Obtaining a mortgage can be a complex and overwhelming process for many homebuyers, but the challenge becomes even more pronounced for self-employed individuals who experience unique hurdles in demonstrating their financial stability to lenders. Navigating the mortgage landscape as a self-employed applicant requires a keen understanding of the specific requirements,

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Debt Consolidation

Mastering Debt Consolidation through Refinancing with Ottawa Mortgage Services

Managing mounting debt can be a challenging and overwhelming experience for homeowners. In certain cases, consolidating debt through mortgage refinancing can provide an effective solution to this issue, ultimately leading to improved financial well-being. In this comprehensive guide, we will discuss the concept of debt consolidation through mortgage refinancing, explore

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house keys

Navigating Commercial Mortgage Financing with Ottawa Mortgage Services

When it comes to purchasing or refinancing commercial properties, navigating the complex landscape of commercial mortgage financing can be a daunting task. Whether you are an entrepreneur seeking to expand your business, a real estate investor looking for lucrative opportunities, or a seasoned professional looking to refinance a commercial property,

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debt consolidation

Achieve Financial Freedom with Debt Consolidation through Mortgage Refinancing

Managing high-interest debts can be an overwhelming and stressful experience for many homeowners. As monthly payments become increasingly burdensome, seeking effective ways to consolidate debt and reduce interest costs becomes a priority. One such solution is mortgage refinancing for debt consolidation purposes, effectively enabling homeowners to leverage the equity in

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coins and a toy house

Exploring Debt Consolidation Through Mortgage Refinancing 

Managing multiple high-interest debts can be a daunting and stressful experience for many homeowners, impeding their financial goals and affecting their overall well-being. Debt consolidation through mortgage refinancing offers a potential solution to this challenge by leveraging the equity in your property to repay existing debts and secure more manageable

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mortgage

First-Time Homebuyer’s Essential Guide to Mortgage Pre-Approval

Embarking on the journey towards homeownership can be both exhilarating and intimidating, particularly for first-time homebuyers navigating the complexities of the mortgage landscape. A crucial step in this process is obtaining a mortgage pre-approval, which serves as a conditional commitment from a lender on the amount they are willing to

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House keys

Mortgage Solutions for Self-Employed Individuals: Tips, Requirements, and Expert Guidance

For self-employed individuals, securing a mortgage can be a more challenging than traditional salaried employees. Unique obstacles, such as variable income and more complex documentation requirements, make the mortgage application experience different for the self-employed. However, with careful planning and expert guidance from Ottawa Mortgage Services, self-employed borrowers can successfully

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real estate

Unlocking Commercial Real Estate Potential with Ottawa Mortgage Services

Navigating the complex world of commercial real estate financing can be daunting. With many options and financial factors, securing the right mortgage for your investment is critical to your success. Ottawa Mortgage Services is here to help.  As experienced mortgage agents, we provide personalized guidance and expert advice to help

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Mortgages

What Is the Maximum Term for Fixed-Rate Mortgages in Canada

Fixed-rate mortgages are a popular choice for homebuyers in Canada. These mortgages come with a fixed interest rate that remains the same throughout the loan term. This means that the monthly payment remains constant, making it easier for homebuyers to budget and plan for their future expenses. But what is

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Refinancing

Is Refinancing Right for You? 7 Key Questions to Consider

Refinancing your mortgage can be a smart financial move, but it’s not always the best option for everyone. Before making this big decision, it’s important to ask yourself some key questions to determine if refinancing is right for you. From considering your current interest rate to evaluating your financial goals,

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housing market

Does the Pre-Approval Amount Need to Match Your Offer Price

When it comes to buying a home, one of the first steps you should take is getting a pre-approval letter from a lender. This letter tells you how much money the lender is willing to loan you based on your financial situation. However, many homebuyers wonder if the pre-approval amount

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mortgage

Is It Time to Refinance Your Mortgage: Lets Find Out!

Refinancing a mortgage can be a helpful tool for homeowners looking to save money on their monthly payments and overall interest costs. However, before jumping into a refinance, it’s important to consider key factors to determine if it’s the right move for you. What Is Refinancing a Mortgage? Refinancing a

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Short-Term Fixed-Rate Mortgages

Understanding Short-Term Fixed-Rate Mortgages for Homebuyers

Purchasing a house is one of the most important financial decisions an individual can make. For most people, it is the largest investment they will ever make. As a result, it is important to choose the right mortgage. A short-term fixed-rate mortgage is a popular option for many homeowners. This

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mortgage

What to Do for a Successful Mortgage Pre-approval in Canada

For most Canadians, purchasing a home is a substantial financial investment. A mortgage pre-approval is an essential step in the home-buying process. It is an evaluation by a lender of your creditworthiness and ability to repay a loan. A pre-approval can give you an idea of how much money you

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house

Mortgage 101: A Guide for First-Time Homebuyers in Ottawa

The prospect of buying a home can be exciting, but it can also be overwhelming, especially for first-time homebuyers. One of the most significant decisions you’ll make when buying a house is choosing the right mortgage. Here are seven common mortgage questions that every first-time homebuyer in Ottawa should ask.

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House in Ottawa

Real Estate Insights: The Best Time to Buy a Home in Ottawa

Ottawa, Canada’s capital city, is a beautiful and thriving metropolis offering a great quality of life. With its stunning architecture, picturesque parks, and vibrant culture, Ottawa has become one of the most sought-after destinations for home buyers.  However, timing is everything if you purchase a property in Ottawa. In this

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receiving house keys after mortgage

Revamp Your Finances: Refinance Your Mortgage Today

The journey to financial freedom is unique for each person, but one common obstacle many Canadians face is managing their mortgage. With interest rates at historic lows, now might be the perfect time to refinance your mortgage to simplify your finances and achieve financial freedom. Refinancing your mortgage can help

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housing market

Understanding the Programs of First-Time Home Buyers in Canada

Owning a home is a major milestone for many Canadians. However, for first-time homebuyers, the process can be overwhelming. Financial constraints, the lack of knowledge about the buying process, and the high cost of homeownership are some of the challenges that first-time homebuyers face. Fortunately, first-time home buyer programs are

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Homebuying

Homebuying Readiness Guide: Questions to Ask Before You Buy

Buying a home is a major milestone in one’s life and requires careful consideration. While buying a home can be an exciting and rewarding experience, it can also be costly and stressful if not approached with the right mindset. Before entering the housing market, evaluating your readiness to become a

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mortgage

A Guide to Mortgage Pre-Approval: Do’s and Don’ts

Buying a house is one of the biggest investments you will make in your lifetime. With the high cost of housing in Ottawa, it is important to secure a mortgage pre-approval before you start house hunting. A mortgage pre-approval is a letter from a lender that confirms the amount of

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Mortgage Rates

Expert Tips for Securing the Best Mortgage Rates in Canada

Buying a home is a significant financial investment, and for many Canadians, securing a mortgage is an integral part of the home-buying process.  A mortgage is a long-term commitment, and it is essential to get the best rates to ensure you can afford the payments over the life of the

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meeting with mortgage agent

What to Bring to Your First Meeting with a Mortgage Agent

Congratulations on deciding to invest in your own home! Before you can start envisioning the interior of your dream house, there is one crucial step to take: meeting with a mortgage agent. They can help you secure the best b-lender mortgage deals for your needs, but their expertise is only

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mortgage

Do’s and Don’ts for Being Pre-Approved For A Mortgage

Getting pre-approved for a mortgage is an essential step towards buying a home in Ottawa. It’s a process that many homebuyers don’t take seriously, but it can make a huge difference in the home buying process. A pre-approval letter from a lender shows that you are a serious buyer, and

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mortgage

How to Get the Best Mortgage Interest Rate in Canada

When buying a home, getting the best interest rate on your mortgage is crucial. Even a small difference in interest rates can significantly impact your monthly mortgage payment and the total amount you end up paying over the life of your loan. This article will provide useful tips to help

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person with debt

What You Need to Know about Debt Consolidation in Ottawa

By taking out a loan to pay off other loans and obligations, debt consolidation can help you save money and pay off your debts faster. If you take out a loan with a lower interest rate than what you currently have, you could save on monthly interest costs. You can

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What You Should Remember If Your Mortgage Renews in 2023

Mortgage interest rates are crucial in the decision-making process of homebuyers. They’re central to a home’s affordability and will determine how much you’ll pay over the loan’s life.  However, being a responsible borrower means going beyond that. You should also know when to renew your mortgage and how to handle

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Man giving the key

8 Tips to Increase Your Credit Score to Secure a Mortgage

Being a homeowner is highly beneficial because you have a physical asset with an appreciating value. For this reason, all prospective homeowners go to great lengths when looking for the perfect home, especially if they plan to settle there for life. However, only a few can pay for a house

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Neighbourhoods

Taking a Look at the Top Neighbourhoods in Ottawa This 2023

Ottawa is the capital city of Canada and is known for its vibrant culture and history. It is home to some of the country’s most beautiful and iconic neighbourhoods. These neighbourhoods are full of unique and interesting places to explore, making them great destinations for tourists and local residents alike.

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mortgage

Commercial Mortgage Guide for 2023

A commercial mortgage is a loan that is used specifically to purchase commercial property. This can include anything from office buildings to hotels and typically requires a more extensive and complex appraisal process than residential mortgages. The interest rates on these mortgages are generally higher, and the loan terms are

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couple looking at laptop

Here’s How to Calculate Your Debt-to-Income (DTI) Ratio

Evaluating your finances is crucial to your financial success and stability. It is important to keep track of your spending, savings, income, and debts, so you can plan a reasonable budget and make wise financial decisions. An overview of your finances also helps you identify problems before they become too

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mortgages

The Top 5 Important Types of Mortgages You Should Know

Mortgages can be a tricky subject to wrap your head around, but don’t worry! We’ve got you covered. We’re here to give you the rundown on the top 5 important types of mortgages you should know, and the pros and cons of each one. Fixed Rate Mortgages A fixed-rate mortgage

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mortgage

What You Need to Avoid After Getting Mortgage Pre-Approval

Obtaining a mortgage pre-approval is an important step in buying a home in Canada. It shows sellers that you are serious about buying a property and it also allows you to budget for your home purchase. However, it is important to know what to avoid after obtaining mortgage pre-approval in

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canadian dollar

What You Need to Know about Debt-to-Income Ratio and Mortgages

A lender will assess your financial situation before granting you a mortgage to ensure that you can afford the payments and that you are stable. This is the lender’s guarantee that you can manage the mortgage. That said, to assess your financial health, one of the things lenders look at

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Mortgage contract

How Mortgage Insurance Helps Increase Your Borrowing Power

Are you a first-time home buyer in Ottawa looking to apply for a mortgage? Then consider getting mortgage insurance first. Mortgage insurance is an important financial tool that helps Canadians increase their borrowing power when purchasing a home. It allows borrowers to secure a mortgage loan with a lower down

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Credit Card Debt

How Can Credit Card Debt Affect My Mortgage Application?

When applying for a mortgage, your credit history is one of the most important factors lenders will consider. A history of high credit card debt could negatively affect your chances of being approved for a mortgage loan. How Can Credit Card Debt Affect Your Mortgage Application? Credit card debt can

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people discussing

How Do Home Equity Loans and Second Mortgages Differ?

If you own a property, you may have heard about the advantages of getting a second mortgage or home equity loan to pay for renovations or debt consolidation. But what are these advantages, and how do home equity loans compare to other types of credit? Given that the average Canadian

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Ottawa Canada

A Quick Dive into the Rich History of Ottawa, Canada

Ottawa, Canada’s capital city, is steeped in a rich history that dates back centuries. From its roots as a small Algonquin settlement in 1800, Ottawa has grown into a bustling metropolis of over one million people. The city has a long and varied history, from being the home of the

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working on laptop

8 Factors to Consider When Comparing Rent vs Mortgage in CAN

The debate of rent vs mortgage is one that has been around for years. Some people believe it is better to rent a property, while others believe that owning a home is a better investment. Pros and cons are apparent to both renting and buying, and it’s important to evaluate

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self-employed woman learning about mortgage online

What You Need to Know about Mortgages If You’re Self-Employed

If you’re self-employed, you might find it harder to get a mortgage than someone employed by someone else. Here, Ottawa Mortgage Services shares what you need to know about mortgages if you’re self-employed: The Challenges of Getting a Mortgage When Self-Employed For many people, self-employment is the key to achieving

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real estate

Some of the Best Places to Invest in Real Estate in Canada

Both locals and foreign investors are interested in properties in the Great White North since Canada has one of the world’s hottest real estate markets. Indeed, it is the nation of opportunity, whether you’re seeking for a place to call home or want to make a lot of money on

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mortgage

What You Should Know Before Applying For Mortgage

Rites of passage play an essential role in the lives of individuals and cultures. They help to mark the transition from one stage to another and signify the individual’s new status and responsibilities. In many cultures, there are specific rites of passage for each stage of life, from birth to

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people discussing

7 Things to Avoid after Getting Your Mortgage Pre-approved

Having your own home is a dream come true for many people because it’s a place where you can relax and feel comfortable, knowing it’s all yours. For this reason, all prospective homeowners take their time looking for the perfect home. However, not everyone can afford to pay for a

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moving

Top Reasons to Move to Ottawa

Ottawa has been Canada’s capital since 1857 when Queen Victoria declared it so. It has been consistently rated as one of the safest places in the whole world to live in and certainly one of the best places in the Great White North to live in. Situated on the shores

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housing

How to Purchase a House in the Current Ottawa Sellers Market

The Ottawa real estate market is currently in a seller’s market. How does one succeed as a buyer in today’s real estate market? It is challenging and exhausting for buyers to navigate the market when demand exceeds supply and prices rise. It is easy to become overburdened. Even if you

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couple holding keys

Everything That You Need to Know About Reverse Mortgages

A reverse mortgage is a special type of home loan that lets you borrow against the equity in your home. With a reverse mortgage, you can access the equity in your home to get cash without having to sell your home. Because of how useful it is, it’s best to

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mortgage

Tips on Getting Pre-approved for Your Housing Mortgage

Getting a home is a dream for many people, but it can be frustrating. However, there are ways to simplify the process: getting a pre-approved mortgage. To learn more about getting your mortgage pre-approved, keep reading below. Tips on Getting a Pre-approved Mortgage The pre-approval process is when mortgage lenders

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Real Estate Investments

Understanding the 4 Types of Real Estate Investments

There are two main types of real estate investments: those that involve physical property, such as land, residential, and commercial properties, and those that don’t involve owning physical property, such as real estate investment trusts (REITs) and crowdfunding platforms. REITs and crowdfunding platforms are great options if you want to

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people carrying moving boxes

Everything to Know When Getting a Mortgage in Ottawa

If you’re looking to purchase a home in Ottawa, you’ll likely need to get a mortgage. This guide will teach you everything you need to know about mortgages in Ottawa, including how to get one and the different types available. What You Need to Get a Mortgage in Ottawa There

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First Time Home Buyer

Tips for First Time Home Buyers in Ottawa

When you’re buying a home in Ottawa for the first time, it’s important to be aware of the current market conditions. If you’re not sure whether it’s a buyer’s or seller’s market, your real estate agent will be able to advise you. In a seller’s market, there are more home

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home

What Things Do You Need to Know About Home Equity?

You can build home equity by making mortgage payments and improving your home’s value through renovations and updates. Every time you make a mortgage, the amount of your loan you have left to pay off decreases. If property values in your area increase, the amount of your home equity also

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people discussing

The Full Mortgage Amount: Should You Spend It All?

Buying a house in Canada can be hectic, as it entails properly handling your finances to make your home purchase easier. Aside from that, it would help if you determined how much mortgage you need to secure. After all, homes are on the market for different prices. This is where

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people discussing

About a Home Equity Line of Credit: How and When to Use It

Home equity lines of credit (HELOCs, for short) are loans that use the equity in your home as collateral. Equity is the portion of your house you own outright or the difference between your house’s value and the remaining balance owed to the lender. HELOCs allow you to borrow against

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commercial building

Tips before Buying Commercial Real Estate Property in Canada

There are many reasons to invest in commercial real estate in Canada. It’s a stable and developed country with a strong economy, so it’s an attractive destination for businesses and investors alike. It offers a variety of commercial real estate opportunities and a high quality of life. All these make

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man looking at paper

What You Must Know About Getting a Mortgage in Canada

Anyone buying a property will almost certainly require a mortgage. What is the process of getting a mortgage in Canada? It’s a basic financial instrument, but its many alternatives and interest rates might be perplexing. Because buying a home will most likely be the most significant investment of your life,

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signing papers

Commercial Mortgages and Their Qualification Criteria

A commercial mortgage is basically a loan taken out to cover the cost of the property in case you default. The borrower is generally a business, though partnerships and incorporated companies may also take out commercial mortgages. The type of business operating on the property must also be identified in

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Self-Employed

How to Get a Mortgage as a Self-Employed Individual

Millions of Canadians don’t work as an employee and instead are considered self-employed individuals. These people have the freedom of being their own boss. While that sounds amazing at first, it does come with some disadvantages. For many people, one significant setback of being self-employed is not being able to

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mortgage

A Beginner’s Guide to Mortgage Pre-Approval

If you want to buy your own place, you’ll need to know how much you can afford. Your finances play a big role in this, and getting a mortgage pre-approval will help you understand your buying power. How Does Mortgage Pre-Approval Work? A mortgage pre-approval is a process that potential

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Mortgage

Separation Anxieties: Managing a Mortgage After a Divorce

Divorce can be challenging enough without the financial complication because you have to deal with the emotions. Worst case scenario will be if there are kids involved. You need to help them through the trauma while handling your heartaches. You might face another post-divorce dilemma if you get through the

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buyer receiving house key

5 Clever Ways of Paying Off Your Mortgage Faster

For the average Canadian, getting a mortgage on a single-family home is a big, big deal. It’s essentially the single largest debt you will ever have to pay off in your life. A typical mortgage will last up to 30 years, 60 years (if you stretch it out), or even

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mortgage loan

Costly Mistakes: What You Avoid to Get a Pre-Approved Loan

Forbes encouraged the public to invest in Canada’s real estate early last year. In that article, the columnist enumerated five reasons to do so. Although the blog was targeting non-Canadians, it is safe to say that Canadians should not miss out on this investment opportunity. To enjoy this privilege, you should avail

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mortgage refinance for home

What You Need to Know about Refinancing a Mortgage

CBC reported that mortgage rates have gone up. Some pundits are even encouraging people to try a fixed rate. In this case, why not try refinancing your mortgage. Before searching for the best refinance rates in Ottawa, you should know the refinancing basics. This financing option might answer your monetary problems,

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signing papers

Myths about Mortgage That You Should Stop Believing

A mortgage is very crucial and beneficial when it comes to owning your own home. However, many people struggle to find the right mortgage for them because of the many misconceptions they believe. To learn the truth behind these common misconceptions, keep reading below. 1. Good Mortgages Are More than

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debt consolidation

3 Common Mistakes to Avoid When Consolidating Debt in Ottawa

Juggling different debts can often feel like sinking into financial quicksand, one that draws you in deeper with few ways out. Debt consolidation can help you gain a grasp on your finances, but if you make certain mistakes, you could be sinking deeper. It’s crucial to research and understand debt

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working on papers

Mistakes to Watch Out When Applying for a Mortgage

Purchasing your dream home is exciting. But you need to apply for a mortgage to turn your dream into reality. Perhaps you want to buy a small fixer-upper and make it your own. You build up some equity as you improve it. Or maybe you want to buy a larger,

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house keys

Common Mistakes First-Time Homebuyers Should Avoid

First-time homebuyers should conduct their homework before making a final decision. Even if you seek advice from family, friends, and coworkers or read a few articles on the subject, you may still make some mistakes along the way. In fact, 80 percent of first-time homebuyers say they’d rather do it

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Purchasing Homes

Is Debt Consolidation a Good Idea for Purchasing Homes?

Individuals dealing with a lot of outstanding debts can benefit a lot from debt consolidation. This method allows anyone with multiple debts to manage their liabilities better and get the chance to get more reasonable interest and terms. It is a recommended move to some, but whether it could benefit

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looking at house

Review These Essential Questions to Ask Your Mortgage Agent

Taking out a mortgage is a significant decision in your life that shouldn’t be made lightly. To ensure that you are getting everything you need out of the process, you need to ask the right questions to your mortgage agent. The following questions will help you get the information you

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house keys

Everything You Need to Know About a Mortgage Stress Test

We expect the best every day: We carry umbrellas when it’s cloudy, pop Gravols before a long flight, and buy travel insurance when going overseas. We don’t take on mortgages without doing a similar type of preparation! A mortgage stress test is a good way of preparing yourself for a

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house

Home Equity Loan vs HELOC: Which Should You Choose?

Home is where your heart is, but according to a recent survey, it’s also the heart of your investment portfolio. It’s worth a lot of money and can be an asset that you strategically use to your advantage. To do so, you have to make sure that you take steps

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houses

What to Do with a Rejected Mortgage Loan Application

When you apply for a mortgage loan, there’s no guarantee that it will be accepted. So, you need to prepare in case your mortgage loan application gets denied. And with this guide, you can hopefully figure out what your next steps would be if your application was rejected.  Identify the

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neighborhood

How to Know if Your Credit Score is Enough to Buy a Home

Every time you apply for credit, whether it’s a home loan, a credit card or even an apartment lease, the lender checks your credit score. This score is based on your personal credit history and determines how risky you are as a borrower. Higher scores give you better chances of

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Mortgage

Mortgage Prequalification vs Pre-Approval: What’s the Difference?

The home buying journey can seem quite simple, but it is important to understand the process and the terminology used along the way. By becoming more familiar with the mortgage home-buying process, you can purchase the home of your dreams, using the correct terminology and getting the best interest rates

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debt

Options You Can Take to Consolidate Your Debt in Canada

When you are paying off a lot of debts, it can quickly get overwhelming. When you consolidate your debt, you can make things more manageable by getting rid of multiple debts and having just one loan to think about instead. This can be very helpful when you need fewer things

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Refinancing Your Mortgage

5 Considerations to Make When Refinancing Your Mortgage

Mortgage refinancing can be such a great option in Canada, as there’s the possibility of saving a considerable amount every year on your mortgage payments via one big payment each month if you play your cards right. Many homeowners take advantage of this opportunity once their mortgage terms are over

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Mortgage letters

Mortgage Pre-Approval Letters: Why Do You Need One

When we purchase a home, there is always a lot of paperwork involved. But let’s face it, most of us don’t enjoy that part. However, all the documents we fill out are immensely important. For example, one of the most important forms you’ll need is the pre-approval letter when applying

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mortgage

Are Mortgage Rates Going Up Or Down? Here’s How You Can Tell

If you have a mortgage, you are pretty concerned about interest rates! Mortgages grow more costly when interest rates rise. It becomes considerably simpler to keep up with a mortgage when interest rates fall. The issue is that you’re not only buying a mortgage based on today’s rate; your mortgage

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Refinance

6 Tips on How to Find the Lowest Refinance Rates in Ottawa

Refinancing is an option that can be advantageous to some homeowners, but it will only be beneficial if it takes off a lot of interest in their current mortgage. That means finding the best offer available.  While it is a loan program any homeowner can apply for, it will not

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mortgage

Defining Mortgage Pre-Approval, Pre-Qualification and More

Finally making up your mind to get a home can be quite a loaded decision, especially since the home buying process can be rather complex. For a number of people exploring the housing market for the first time, it can be a completely foreign experience with a vocabulary that you

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keys on hand

Why You Should Buy a Home in the Ottawa Glebe

Are you considering buying a home in the Ottawa Glebe area? If so, here are some of the main reasons you might want to do that:  For starters, the Glebe is ideal for families. This vibrant uptown neighbourhood offers everything from large, century-old houses with expansive front yards to modern,

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