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 ...

More than 400,000 new immigrants are currently in the process of coming to Canada each year—this is one of the highest rates as a percentage of total population in the world! In 2019, eight million people were living in Canada on permanent residence, which makes up approx. 20% of the country's ...

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 ...

Understanding Debt Service Coverage Ratio When you are shopping for a residential mortgage, you will find that the process is basically the same for every applicant. However, with commercial mortgages, the process can differ widely from one applicant to the next. When lenders look at commercial applications, though, there are ...

Homes for Sale Owner Financing Agreements The majority of home buyers today go through the conventional process. This means having a 20 percent down payment, a reliable and verifiable stream of income, and a credit score that shows a solid track record of paying your obligations in a timely manner ...

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 ...

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 ...

Calculating How to Pay Your Mortgage Off Early When you take out a mortgage in Canada, one of the choices that you have to make is between an open and a closed mortgage, in addition to fixed, variable, or adjustable. A closed mortgage has a lower interest rate, but if ...

Choosing the right mortgage brokerage is crucial not only for getting the best deal possible but also for ensuring that all of the details of the transaction are handled correctly. There are many elements to conducting a real estate purchase, and mortgage brokers with experience and a track record of ...

When you apply for a mortgage from a private lender, your credit is not an important part of the equation, but the condition of your property is even more important than it is when you apply for a mortgage through a bank or traditional lender. The reason for this that ...

Buying your first house is one of the most exciting times of your life – and it should be. You’ve cut back on all of your costs to save up a down payment large enough to qualify for a mortgage. You’ve been hunting all over town for the perfect house ...

Many times, the stress that comes with taking out a mortgage becomes so great that we forget that there is another party that is undergoing considerable worry on our behalf – the lender. After all, a mortgage application is a request for a lot of money, based on the trust ...

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 funds. It gives a seller who has the financial flexibility ...

The Good and the Bad of Condo Buying & Associations: Many people purchase condominiums each year and enjoy living in them. However, many others find themselves overwhelmed by the burden of being in a condominium association. Understanding what a condominium is and how working with a board and association works ...

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 ...