Article courtesy of Genworth Canada. The first thing any prospective homebuyer needs to do is determine whether they can afford to buy the home they want. Many people believe they have to save a large down payment. Thanks to mortgage insurance, there are various programs that enable homeownership with little or no down payment at… Continue reading Can You Afford to Buy a Home?
Category: Mortgage Monday
A weekly column written by mortgage agent Tim L. Walker that discusses a wide variety of topics in the mortgage industry.
Mortgage Monday Rate Update – September 2012
We’re back into the swing of things after taking a week off last week – I hope everyone had a great long weekend last weekend. Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or… Continue reading Mortgage Monday Rate Update – September 2012
10 Closing Costs When Buying a Home
Article courtesy of Genworth Canada. Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates… Continue reading 10 Closing Costs When Buying a Home
Mortgage Monday Rate Update – August 2012
Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the world of mortgage… Continue reading Mortgage Monday Rate Update – August 2012
The Writing’s on the Wall for the 80% HELOC
If you’ve been holding off looking into a readvanceable mortgage or HELOC (Home Equity Line of Credit) and are looking to use up to 80% of your home value, you’re running out of time to get it done. The new underwriting mortgage rules (that we looked at a couple of months ago) that were brought… Continue reading The Writing’s on the Wall for the 80% HELOC