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Welcome to the World of Mortgage Refinancing

Mortgage Refinancing What is Mortgage Refinancing? Welcome to the World of Mortgage Refinancing. It’s OK. Don’t be scared! Refinancing your mortgage doesn’t need to be a scary process.   For those of you who are new to the mortgage world, mortgage refinancing means to pay off an existing loan and take out a new one.  Clearly, this is with respect to the mortgage on your house.    Sometimes in the adult world of financial stability, circumstances arise that are beyond our control and [...]

What You Need to Know about Fixed Rate Mortgage Penalties in 2017

Fixed Rate Mortgage Penalties In the mortgage industry fixed rates are quite popular amongst homebuyers. The reason for this is that borrowers know what to expect for the term of their mortgage. A fixed-rate terms provides a certain guarantee of what the loan will cost over the entire term. Variable-rate mortgage are a bit more risky. Generally speaking, your interest rate can fluctuate by going up or down, which affects how much you actually pay back on the money borrowed. In [...]

Your Mortgage Renewal: The Top 6 Mortgage Tips

Mortgage Renewal If you currently own a home in Canada, then we’re sure you’d agree that you single largest monthly expense is your mortgage payment. Since ¼ of Canadian households opt-in for automatic mortgage renewal, they often overlook trying to find a better deal at the end of their term. It’s unfortunate that a large majority of these people also miss out on lowering their monthly payments upon their mortgage renewals, so we don’t want you to become apart of this [...]

Most Common Mortgage Challenges for New Immigrants

Thousands of people immigrate to Canada each year. For most, their first instinct is to rent an apartment or a house once they’re settled in Canada. On the other hand, many immigrants adopt the dream of owning a new home in a new country, so know you’re not alone. As a newcomer who has just immigrated to Canada it’s likely you’re considering buying your first home, but we’re sure you’ll face many challenges. Fortunately, Mortgage Alliance is here to help [...]