We write a lot about dealing with outstanding debt and finding more space in your budget – but what can you do if the problem isn’t your budget, but rather your expenses? It happens sometimes that the cost of living for a person or family may simply…
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Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you…
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Home equity financing can help you achieve a lot of financial goals — complete a home renovation, fund a major event, like a wedding or tuition, get out of debt, and more. But sometimes it can be difficult to secure the financing if there are other people…
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Is a second mortgage the right choice for you? If you’ve been wondering the answer, here’s how to tell. First off, let’s define what a second mortgage is. When you first buy your home, you take out a purchase loan – your first mortgage. This is typically…
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Thinking about applying for mortgage refinancing? It can be a great way to: Consolidate debt Fund a home renovation Pay for a big event, like a wedding Cover education costs And more. But if you’re looking into mortgage refinancing, you’ll need to decide where to secure that…
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A Prudent Mortgage Corp. second mortgage is one of the best deals you’ll find. Borrow up to 80% of your home’s value. We offer reasonable second mortgage rates and interest rates and we always assess you based on your merits. Consumer proposal okay! Bad credit okay! Self-employed…
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Being a homeowner with bruised or bad credit can seem like a catch-22 — you might have equity available in your home that could help you erase your bad debts but accessing that equity through bad credit mortgage financing can seem nearly impossible. All is not lost,…
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If you’ve been fortunate enough to lock into a low first mortgage rate, then you probably don’t want to lose it. Especially as Canadian interest rates increase, you’ll want to do what you can to keep your first mortgage rate as low as possible. However, if you…
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Sometimes, there may be cases where you want to access your home’s available equity without needing everyone on the property title to sign for it. Perhaps you and your spouse maintain separate finances, or your parents are on the title. Or there could be another reason you…
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There’s no question about it — Canadian homeowners are living with a lot of uncertainty. New Canadian mortgage rules and interest rate increases are coming fast and furious from government officials, which begs the question for those who own their home: is it time to refinance? There…
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