Looking to Apply for A Residential Mortgage In Canmore?
Are you looking to buy a home in Canmore, Alberta but don’t have the funds to pay for it upfront? A residential mortgage might be the solution you need. Applying for a home loan can seem daunting, but it doesn’t have to be. In this guide, we’ll walk you through the process of applying for […]
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.
Bridge Financing in Canada: Everything You Need to Know
Bridge financing, also known as a bridge loan, is a short-term loan that is typically used to “bridge” the gap between the purchase of a new property and the sale of the borrower’s current property. In other words, it allows homeowners to purchase a new home before selling their current one. In Canada, bridge financing is becoming increasingly popular as it allows homeowners to move into their new home right away, without having to wait for the sale of their current property.
Comparing big banks and monoline banks in Canada
As a mortgage brokerage, Pekoe Mortgages has had the opportunity to work with both big banks and monoline banks. In this post, we’ll explore the key differences between these two types of financial institutions and help you determine which one might be the best fit for your needs and goals.
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.
Buying a home in 2023: First Time Home Buyers
Buying a home for the first time can be a daunting experience, but with the right knowledge and preparation, it can also be an exciting and rewarding one. Our first-time home buyers guide for Canadians covers all the essential steps in the process, from determining your budget to closing on the purchase of your new home. Follow these tips and considerations to make the process as smooth and successful as possible.
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.
