Your Mortgage Is Renewing in Ontario. Don’t Sign the First Offer.
Your lender will send a renewal notice 30 to 120 days before your term ends. It will look official. It will feel like something you just sign and return. It isn’t. A renewal offer is a starting point, not a final answer. Lenders know that most borrowers accept whatever rate is on the page. Renewal […]
Who usually pays a mortgage broker fees?
If you’re considering working with a mortgage broker, you may be wondering if broker fees are always charged. The truth is, broker fees are not always a requirement. Some brokers may offer their services at no cost to the borrower, as they receive a commission from the lender.
At Pekoe Mortgages, we understand the importance of transparency and being upfront about our fees. If we don’t charge a fee, we will always be clear about how we are compensated for our services. However, it’s important to remember that the absence of a fee doesn’t necessarily mean the mortgage is the most cost-effective option. A reputable mortgage broker can help you evaluate the overall cost of a mortgage and help you find the best deal for your financial situation.
Self-Employed in Canada? Learn How to Secure a Low-Doc Mortgage and Achieve Your Homeownership Goals
Obtaining a mortgage as a self-employed borrower in Canada can be a difficult task, but with the right preparation and understanding of the process, it is possible to secure a mortgage and achieve your dream of homeownership. Learn more about what lenders are looking for, alternative options, and how Pekoe Mortgages can help you in this comprehensive guide.
How to Save Money on Utilities
As a homeowner in Canada, you know that owning a home comes with its fair share of expenses. One area where you can make a significant impact on your budget is your utility costs. Follow these tips to save money on your monthly utility bills
Buying a home: The difference between deposit and downpayment
When it comes to buying a home in Canada, it’s important to understand the difference between a house deposit and down payment. While they may seem similar, they serve different purposes and have different implications for your home-buying journey. A house deposit is a small sum of money that you put down when you make an offer to purchase a home, while a down payment is a larger sum of money that you pay upfront when you take out a mortgage.
Should you break your current Mortgage?
Breaking a mortgage in Canada typically involves paying a penalty and other fees. It’s a complex and costly decision that requires careful consideration. Get expert advice from a financial advisor or mortgage broker before proceeding.
How to Get Pre-Approved for a Mortgage in Canada
Getting pre-approved for a mortgage in Canada involves providing detailed documentation and undergoing a formal review of your financial information. If approved, you’ll receive a pre-approval letter which is a formal offer to lend you a specific amount at a specific interest rate. Pre-approval is not a guarantee of final mortgage approval but is a strong indication of your borrowing power and can be useful in the home buying process.
What are home closing costs and how much do I have to pay?
Buying a home in Canada can be an exciting and overwhelming process. Don’t let closing costs catch you off guard. Our team can help you understand and budget for these fees and expenses, so you can focus on finding your dream home. Contact us today to learn more.
Top 10 Tips for Getting the Best Mortgage Rate in Canada
Looking for the best mortgage rate in Canada? Follow these 10 tips to help you secure a competitive rate and save money on your home loan. From improving your credit score and making a larger down payment to choosing the right lender and considering government programs, these strategies can help you get the best deal possible. Start your journey to homeownership on the right foot by following these tips and securing a low mortgage rate.
Everything you wanted to know about Property Taxes
Property Taxes Might Be A New Concept for You if You’re a First Time Home Buyer Budgeting for a home goes beyond simply paying your mortgage. In addition you’ll have monthly expenses. Some of them will be variable like heat, hydro, and water. But others are fixed, like your internet and property taxes. If you’ve […]