Other Mortgage Options

The History of Assumable Mortgage Loans At its most basic, Assumable Mortgage loans can be transfered to someone else without having to alter the original mortgage terms. The new party takes over the obligation for the payments left on the mortgage and is now legally on the hook for all ...

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If you’re buying a home in new construction, builders tend to work with two different types of loans – completion mortgages and draw mortgages. Different builders have their preferences. In this article, we will compare a draw mortgage to a completion mortgage. What is a completion mortgage? A completion mortgage ...

The high ratio mortgage in Canada is a great way to get into your house sooner and begin building equity. It isn't a loan you want to have through the entire amortization period, but the renewal process in Canada almost guarantees that you can get out of paying insurance after ...

How To Get A Low Income Mortgage Loan? If you feel like you'll never be able to get into the home you want because of your income, a low income mortgage loan maybe the answer. According to the Canada Mortgage and Housing Corporation, 20 percent of families and individuals in Canada ...

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Knowing the best loan for your needs is not always easy, but the first thing you need to have clear in your mind is the difference between Open vs Closed Mortgages. There are many exciting aspects to purchasing a new home. Poring over floor plans, choosing flooring, looking at swatches ...

Using your RRSP to Invest in Mortgages One complaint that many Canadians have about their Registered Retirement Savings Plans (RRSPs) is the low returns on their investment. Many portfolios are heavily invested in vehicles that are backed by the government or that have guaranteed returns, which means that the risk ...

What is vendor take back mortgage? Take Back Mortgage Definition:A vendor take back mortgage which is also know as a seller take back mortgage is another way for a buyer to find a source of funding to purchase a home. In this case, the seller offers to lend some of ...

Bridge Financing And Your Mortgage So you've been plugging away at your finance job in Calgary for five or six years now, long enough to have bought a home and started a family. Suddenly you receive a chance to jump to a better position within the firm, but now you ...

What is a flex mortgage loan? Here's how a flex down mortgage works. If you're looking to buy a home and have a decent, reliable salary, and your credit is strong, there's no longer any reason to wait until you've saved up 20 percent of the purchase price of that ...

How to obtain commercial hard money loans for commercial real estate When it comes to finding a commercial hard money loan, the process is similar to the residential hard money process. However, commercial hard money financing can be more expensive than residential notes because of the additional degree of risk ...

Hard money loans are granted on the basis of the collateral asset rather than the credit of the borrower himself. Generally, hard money loans come from private individuals or companies that seek investment in the real estate market. Because the loan represents a higher degree of risk than conventional residential ...

Hearing that you have inherited a home can be exciting news. However, you definitely want to take a look at the fine print in the will to make sure that you don't have big headaches headed your way. One of the biggest potential headaches can come when the home still ...

Interest Reserve Mortgages in Alberta Cheap gasoline might seem like a boon to the economic fortunes of many regions throughout the world, but in Alberta it means hard times. The dip in crude oil prices has sent Alberta into a recession; between January and August, for example, unemployment rose from ...

An Overview of Jumbo Mortgages Jumbo Mortgage Definition: A "jumbo" mortgage is a mortgage in an amount higher than their preferred maximum. Your average bank has a range of mortgage sizes in which it prefers to stay. In Canada, there are some lenders who view a "jumbo" loan as anything ...

Manufactured Home Mortgage Loans If you are in the market for a RTM (ready-to-move) manufactured home, but don’t have the cash on hand to pay for it up front, there are a variety of lenders within our network that will provide you the Manufactured Home Mortgage Loan required to help you complete ...

Deciding which new mortgage products and services makes sense can be difficult, I’m here to help. Call Amansad Financial Today or get started by filling out or Mortgage Pre-Qualification Form. Mortgage Products Explained There are several factors to consider when making a mortgage decision. From terms and rates to flexibility ...

Most people don’t spend their entire adult lives in the first home that they buy. Sometimes they move to another city, sometimes they need a larger home as their families grow, and sometimes they need something smaller, either through a divorce or when the kids go off to college. At ...