Mortgage Blog


CMHC Portability: Good News for Borrrowers Who Are Moving

If you’re about to relocate, the portability feature that CMHC offers allows you to take your CMHC Mortgage Loan Insurance from the home you live in now to your new home – and you can end up saving some money by eliminating (or at least reducing) the premium on the ...
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Seven Ways to Torpedo Your Loan Request

One reason why Amansad Financial Services, Inc. opened its doors was to help borrowers who have the means to take on a mortgage or some other form of financing but cannot successfully negotiate the thicket of government regulations. We have encountered many borrowers over the years who have damaged their ...
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Landlord to Lender

The Easy and Natural Transition If you currently own property that you are renting out to tenants, it is definitely worth considering making the transition from landlord to lender. As a landlord, you bear a considerable amount of responsibility when it comes to the properties that you own. When a ...
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Using Auto Loans to Finance Other Needs

If you have a clear title to your car, boat or other asset, you have a financial asset that you may have overlooked so far. Because of the fact that mortgage interest rates appear to be ticking upward, now is an excellent time to purchase a home. However, if you ...
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Amansad Financial – What You Need to Know

In the aftermath of the global financial downturn that roiled most markets starting in the US in 2007 and continuing worldwide into 2008, banks and other lenders tightened their regulations significantly with regard to access to mortgages and other forms of credit. We founded Amansad Financial to help consumers who ...
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A Message of Hope

A Message of Hope… This may not be the most typical article write up, but it must be written. Some reading this may or may not agree with the thoughts presented, but it is a perspective that I feel may resonate with many. Canada is in pain, and it is ...
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The competitive mortgage market – it’s not all about rate

The recent announcement that BMO has lowered its 5-year fixed rate from 3.09% to 2.99% has caused a flurry of speculation from market analysts and warnings from the federal government. For the past year the Bank of Canada has been warning that high household debt levels, the bulk of which ...
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No Longer Promote Rent-to-Own – Seller Financing Way Better Option

Why Amansad Financial No Longer Promotes Rent-to-Own or Lease-to-Own Purchases Amansad Financial Services, Inc. has long been familiar with the rent-to-own process. While many people have used this process to try to move from renting to owning a home, there are quite a few potential drawbacks, and anyone considering this ...
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Mortgage Stress Testing

What is mortgage stress testing? According to research, about 30 percent of first time home buyers anticipate that interest rates will stay constant for the next five years. However, one of the hazards of signing a mortgage in the Canadian market is that you have to be ready for rates ...
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Variable vs Fixed Mortgage

Variable vs Fixed Mortgage Over the past few years, the differences between Variable vs Fixed Mortgage has shrunk considerably. The obvious benefit of the variable loan is that it comes with a significantly lower interest rate, at least initially. The fixed rate loans have higher interest rates, but they stay ...
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Part 1 – Writ of Seizure & Sale

Writ of Seizure & Sale - Part 1 A property lien is a legal claim that has been filed against a particular real estate tract. The entity holding the lien is entitled to a specific dollar amount once the property is sold. The purpose of this sort of lien is ...
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CMHC Mortgage Rules

Canadian Mortgage and Housing Corporation Mortgage Rules The Canadian Mortgage and Housing Corporation (CHMC) provides mortgage insurance for loans approved for buyers who want to buy a home while putting down less than 20 percent of the agreed purchase price as a down payment. The Canadian Bank Act forbids the ...
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The Power of Blanket / Inter Alia Mortgages

The Power of Blanket / Inter Alia Mortgages Inter Alia Mortgage Definition The term "inter alia" attached to a mortgage simply comes from the Latin phrase for "among other things," and it refers to a type of loan in which the lender is not satisfied with the property that is ...
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When You Need a High Risk Mortgage

In the wake of the collapse of the housing market in 2008 and 2009, banks became a lot more selective about making mortgages. The sheer number of foreclosures, particularly in the subprime market, brought banks to the brink of ruin -- and past it, in some cases. High Risk Mortgage ...
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Seller Financing Pros and Cons

The Pros and Cons of Seller Financing Pros and Cons Given the current state of mortgage regulations, seller financing is becoming an increasingly popular option for new homebuyers. It offers them a chance to get a home loan when a traditional source, such as a bank, will not advance the ...
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