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Standard Charge VS Collateral Charge Mortgages

Standard Charge VS Collateral Charge Mortgages

When you need a loan to purchase a property, your bank or lender will require security for repayment in the form of a charge that is registered at your provincial land registry office. This process secures the residential mortgage loan to your property, and gives your lender certain rights as it relates to the terms of your agreement. There are two forms of charges: standard and collateral.

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The Prime Rate

The Prime Rate

In Canada, mortgages are directly impacted by the prime rate and mortgage regulations established by Government. In the last decade, a drastic drop in the prime rate, coupled with the introduction of new regulations, have enabled consumers to take on more manageable debt loads.

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Down Payments: 5% vs 20%

Down Payments: 5% vs 20%

When purchasing a home, one of the most important decisions you’ll make is the size of your down payment. In Canada, the minimum amount required for any home purchase is 5% for an owner occupied home and 20% for a rental property. Owner occupied homes with 20% or greater down payment do not require mortgage loan insurance. Here are some key elements to consider when deciding between how much down payment is right for you.

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Thinking of Renting that Basement Suite? Tips for First-Time Landlords

Thinking of Renting that Basement Suite? Tips for First-Time Landlords

Having a rental space in your home is a great mortgage helper as well as it also increases the value of your home. Many people are unaware of the challenges that are generated by having a rental suite in their home. Here are some tips and tricks to ensure you are equipped to handle your first tenant experience.

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CENTUM Canada founder accepts 2016 Canadian Franchise Association Hall of Fame Award

CENTUM Canada founder accepts 2016 Canadian Franchise Association Hall of Fame Award

BC family owned and operated Charlwood Pacific Group (CPG), CENTUM Canada, master franchise holder of the CENTURY 21 brand in Canada and the Asia-Pacific regions, Real Property Management in Canada, and UNIGLOBE Travel International, has been awarded the Canadian Franchise Association’s (CFA) Hall of Fame Award for its innovative business practices that have driven franchisee success.

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The new down payment rule: what changed on February 15

The new down payment rule: what changed on February 15

On February 15, the Government of Canada effected a change to the rules for down payments. The change, which was officially announced on December 11, 2015, increases the minimum down payment for new insured mortgages from 5 per cent to 10 per cent, for the portion of the house price above $500,000.

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Our 2016 Pledge To You.

Our 2016 Pledge To You.

For most people, the purchase of a home is the single largest financial investment they will make. This means that the process can be very stressful without the right support. As a consumer, you have a lot of options when it comes to selecting the right team of real estate and mortgage professionals. Surrounding yourself with experts who understand the market and industry can make a huge difference in your journey to home ownership.

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