Mortgagestogo.ca Mortgage Terms Glossary | MortgagesToGo.ca
Figuring out all the jargon associated with getting a mortgage can be daunting. To help you out, we’ve put together a glossary of some of the most common terms you’ll come across.
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Figuring out all the jargon associated with getting a mortgage can be daunting. To help you out, we’ve put together a glossary of some of the most common terms you’ll come across.
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Are you in the market for a new home? Congratulations! Buying a home is one of the most exciting steps you’ll take in your life. But it can also be a bit overwhelming, especially if you’re not sure where to start. Don’t worry—we’re here to help. Here are some tips and tricks for finding the perfect home for you and your family.
When you’re ready to buy or sell a home, the first step is finding a real estate agent that’s right for you. The best place to start is by asking family and friends for referrals. If they have had a positive experience with an agent, chances are you will too. You can also check out websites like Zillow and Trulia to read reviews from past clients.
Through the networking of lenders and investors, mortgage brokers work with banks and credit unions to find options for their borrowers. After evaluation and scrutiny of the possible options, a borrower signs a mortgage agreement where they are to pay monthly subject to existing interest rates. The interest rate is the profit gained by investors. Failure to pay the loan leads to the foreclosure of the property that was used as collateral and the investor takes possession of the property.
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A mortgage broker can help you navigate the complex waters of getting a mortgage in Canada. But what questions should you be asking them? Read on for our top five!