7 Tips For First Time Home Buyers

The home buying process in today's Canadian market can seem threatening.  However, if you follow these five tips, you can simplify the process while knowing you made the best possible decision. Your home buying process always starts with a visit to a reputable mortgage agent.  Talk to them about the current real estate climate, and secure your pre-approval. Next, you need to secure the right real estate agent.  At Mortgage Alliance, we are connected to several of the [...]

What Documents Do I Need To Apply For A Mortgage?

The very first thing to be done when deciding to buy a home is to secure a pre-approval for your mortgage. A mortgage pre-approval shows the buyer the value of the home they can best afford and the mortgage payments associated with the purchase prices.  Furthermore, it also secures a mortgage rate for a period of time, normally from 1 to 5 years.  You are not obligated to stay with the mortgage broker from whom you received your mortgage [...]

Tips for Ensuring Your Mortgage is Legitimate

You ought to be quite careful when you are presented with the chance to “get money for nothing!'' Here are a few goals you might have in mind and the loan choices that may help you reach them. As an example, obtaining the knowledge of what it is you're looking for allows you to avail the precise amount which you start looking for.  In the event you don't have any asset which can be put as collateral, it then [...]

How To Make Money From Real Estate Investment

The recent slowdown in the housing market actually makes buying property now ironically advantages.  There are several crucial questions that you will need to consider while you are on the hunt for the perfect property for investment to make sure you don't get a lemon, but don't let uncertainty hold you back.  Rather, utilize your full range of options, which include the help of an experienced mortgage broker. Find out whether you can afford to get a property in the [...]

Becoming a First Time Home Buyer

First Time Home Buyer Brampton          For those of you that are considering buying a home for the first time, here is some advice that you can take with you to the bank.  Becoming a first time home buyer can be a scary process for those who have no idea exactly how the home buying process works.  The first thing you should do is consult with your local bank or finance company to figure out how much [...]

Debt Consolidation – A General Idea

Debt Consolidation             For millions of people all around the world, financial distress is a familiar term.  When humans take on more than they can handle financially, the usually wind up getting into debt.  When the going gets even tougher, and they figure out that they can no longer meet their financial obligations, they usually always look for ways that they can save money and cut financial corners wherever they can.  They pretty much do [...]

What Is a Home Equity Line of Credit (HELOC)?

Home Equity Line of Credit Mississauga If you’ve been advised to refinance with a Home Equity Line of Credit (a.k.a. HELOC) instead of refinancing with a standard mortgage, then you may be wondering what the difference is between the two. Therefore, we want to help you understand the characteristics, interest, APR, advantages, and risks associated with HELOCs. Home Equity Line of Credit: The Characteristics HELOC is a loan that is set up as a line of credit. It has a maximum draw, as [...]

Second Mortgages – Important things to know

Second Mortgages What do I need to be considered for a Second Mortgages? Applying for second mortgages typically is for people who already have a mortgage in the first place.  As well, you must have photo identification and be able to provide proof of employment, such as paystubs and bank statements. The first mortgage must also be in good standing with your current lender. Who do I speak to about obtaining a Second Mortgages? Applying for second mortgages is really easy, especially if [...]

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 [...]