If you’re in the market for a new home, check out the benefits of a builder rate hold! If you’re planning to build a new home, you may be wondering how to lock in a low interest rate for the mortgage on your new build. Our team at Mortgage Tree can help. We offer something … Continue reading The Benefits of a Builder Rate Hold | Mortgage Tree
A mortgage pre-approval is a commitment from a lender to provide you with funding for a home purchase, up to a certain mortgage amount, based on your financial qualifications. This document is typically valid for 120 days and allows you to shop for a home within that price range without having to re-qualify for a … Continue reading Mortgage Pre-approvals: Why They’re Important
As a homeowner, your mortgage is likely one of the biggest financial commitments you have. It’s important to stay on top of your payments and to be aware of when your mortgage is up for renewal. One way to do this is to sign up for a mortgage renewal reminder with Mortgage Tree. https://mortgagetree.ca/mortgage-tools/mortgage-renewal-reminder/ A … Continue reading The Importance of a Mortgage Renewal Reminder
Unsure of how to select the best mortgage broker for your needs? Look no further! Mortgage Tree has a mortgage broker that will suit everyone’s needs. We have put together a guide that will walk you through the process of choosing the best Mortgage Broker for you. Let’s Start from the Beginning At Mortgage Tree, … Continue reading How to Choose the Right Mortgage Broker | Mortgage Tree
Purchasing a home is a huge investment as we have spoken about in many of our articles. It’s likely the most expensive thing you’ll ever buy, so it’s important to do your due diligence prior to making such a large purchase. These 3 steps will help you to avoid any disappointment. Once you have been … Continue reading
It’s no secret that rent prices have been on the rise in recent months. In fact, average rent prices have now eclipsed pre-pandemic levels. The national average rent for all property types listed on Rentals.ca in August hit a three-year high of $1,959 per month, up 1.3% from July and 11.1% from August 2021, according … Continue reading Buying vs Renting – Average Rent Prices Eclipse Pre-Pandemic Levels
When you’re buying a home in Canada, one of the biggest decisions you’ll have to make is how much money to put down. It’s a balancing act – the more money you put down, the lower your monthly mortgage payments will be, but you’ll also have less money available for other things like, furnishings, and … Continue reading How Much Should You Put Down on Your Mortgage
The Office of the Superintendent of Financial Institutions (OSFI) has maintained that it will not yield to pressure from various sectors that have called for the easing of its strict mortgage qualification standards. The calls came in the wake of the Bank of Canada’s latest outsized rate hike, which pushed its overnight rate up by … Continue reading Why The Stress Test Will Still Stay Relevant
A draw mortgage is a type of construction loan in which the bank allocates funds to the builder as the construction of the home progresses. The mortgage itself takes effect upon the first draw of monies, which is done at the early stages of construction. This means that the interest rate is locked in and … Continue reading What is a Draw Mortgage?
It’s fall, and that means the leaves are changing colours, pumpkin spice is back in season, and – for some Canadians – it’s time to buy a house. If you’re thinking of house hunting, there are a few things you need to know before about the changes that are coming in Canada. Unsure if now … Continue reading Mortgage Advice for Canadians: What You Need to Know Before Buying a Home| Mortgage Tree