Mortgage Blog

Category: Mortgages (19 posts)

Why Borrowers May Choose a Private Mortgage

June 29, 2021 | Posted by: Mortgage InGenuity Inc.

Why Borrowers May Choose a Private Mortgage When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options. However, the ...

How to Handle a Mortgage After a Separation or Divorce

June 22, 2021 | Posted by: Mortgage InGenuity Inc.

Mortgage Life After Separation and Divorce Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial conseq ...

Reverse Mortgages – Impact on Heirs

April 13, 2021 | Posted by: Mortgage InGenuity Inc.

How do Reverse Mortgages Affect Canadian Heirs? For Canadian seniors, there is a great way to get the most out of the equity in their homes. Home prices tend to rise, and equity builds in the prope ...

When Is Mortgage Refinancing a Bad Idea?

March 2, 2021 | Posted by: Mortgage InGenuity Inc.

Property owners refinance their homes and commercial properties all the time. As your credit improves and you have built more equity into the property, it may make fiscal sense to refinance when inter ...

5 Smart Ways to Use a Home Equity Line of Credit

February 9, 2021 | Posted by: Mortgage InGenuity Inc.

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always a ...

What should you consider when refinancing your mortgage?

February 2, 2021 | Posted by: Mortgage InGenuity Inc.

Mortgage rates are at a historic low. If you're thinking about refinancing your mortgage, you could possibly save significant amounts of money over the years. Especially in the first years of owning y ...

Should You Pay Off Your Mortgage Early?

January 12, 2021 | Posted by: Mortgage InGenuity Inc.

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will ex ...

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

May 19, 2020 | Posted by: Mortgage InGenuity Inc.

When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...

Four Strategies That Can Help You Get Approved for a Mortgage

February 11, 2020 | Posted by: Mortgage InGenuity Inc.

So, you've decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage can be a bit of a nerve-wracking process, es ...

Looking to Invest? Pay Down Your Mortgage Instead

February 4, 2020 | Posted by: Mortgage InGenuity Inc.

With all the gloomy news about pension plans in the press you may be worrying whether you should actually be investing in a pension plan or not. A new wave of thinking suggests possibly not. There may ...

Buying a Home, Step One: Mortgage Pre-Approval

September 10, 2019 | Posted by: Mortgage InGenuity Inc.

Whether you're looking to buy your first home, or haven't purchased a home in the past several years, you may be surprised to discover that searching your local real estate listings is not the best pl ...

Bank of Canada Leaves Rates Unchanged

July 16, 2019 | Posted by: Mortgage InGenuity Inc.

The Bank of Canada has left rates unchanged. Prime Rate remains at 2.50% The Bank of Canada cites that rates will remain unchanged due to the Trump Factor and the uncertainty of New U.S. Poli ...

CMHC and The Potential Down payment Rule Change

May 14, 2019 | Posted by: Mortgage InGenuity Inc.

CMHC is contemplating changing rules on down payment, increasing from 5% to 10%. Which I feel is the incorrect approach. You are going to harm the only thing that is driving our economy and this is no ...

Mortgage Rate Alert!

May 7, 2019 | Posted by: Mortgage InGenuity Inc.

Mortgage Rate Alert: RBC has followed TD with raising their Lender Prime Rate to 2.85%. Also, the US Election has affected the Bond Market in Canada with Bond Yields spiking, which may prompt mortgage ...

Department of Finance - Mortgage Rule Changes for October 17, 2016

April 2, 2019 | Posted by: Mortgage InGenuity Inc.

Department of Finance Canada Announces New Mortgage Regulations Making it Harder to Qualify (Effective Oct. 17th)Starting October 17th all insured mortgages will be qualified at the mortgage qualifyin ...

5 Simple Ways to Get Your Home Ready to Sell

March 5, 2019 | Posted by: Mortgage InGenuity Inc.

If you are working up to selling your home, there are a few quick updates that you can do to get it in better shape for the market. Minimal time upfront getting your property ready to sell can make al ...

Bank of Canada Announces - Mortgage Qualifying Rate Increases to 4.74%

February 5, 2019 | Posted by: Mortgage InGenuity Inc.

Bank of Canada Announces Today - Mortgage Qualifying Rate increase 10bps to 4.74%. In an effort to slow down Home Purchases and to curve household debt, the BOC increases the mortgage qualify ...

Should You Spend the Full Mortgage Amount You're Approved For?

January 29, 2019 | Posted by: Mortgage InGenuity Inc.

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

January 22, 2019 | Posted by: Mortgage InGenuity Inc.

Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ...

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