Refinancing your home loan can seem daunting, yet it offers many benefits that can significantly enhance your financial stability and flexibility. Ontario homeowners might need to fully realise the potential advantages of refinancing. This detailed guide will explore the top five benefits of refinancing your home loan, helping you understand how this financial strategy can be tailored to meet your unique needs and long-term goals.

When exploring mortgage options, many prospective homeowners and investors in Ontario often need to pay more attention to the advantages of private mortgages. Unlike traditional bank loans, private mortgages offer unique benefits that can be particularly advantageous for individuals facing specific financial circumstances or requiring more flexible lending solutions. Today, we will delve into the top seven benefits of private mortgages and how they can help you achieve your real estate goals, whether in Leamington, Windsor, or any other part of Ontario.

For many homeowners in Ontario, the end of a mortgage term presents a unique opportunity that might take time to be noticeable. It’s a chance not just to renew your mortgage but to reassess your financial situation and explore new possibilities that can lead to substantial savings and more suitable terms for your current lifestyle. This process, known as mortgage renewal, is often overlooked as a mere formality, yet it holds significant potential benefits. This blog will delve into the various mortgage renewal benefits that can help you make informed decisions and potentially improve your financial health.

When it comes to purchasing a home, there are many important players in the game, and one key team member you shouldn't overlook is a mortgage agent. The role of a mortgage agent in the home buying process is often underestimated, but their expertise and guidance can make a world of difference. In this blog, we'll delve into the valuable contributions a mortgage agent can make to your homebuying journey and why partnering with one is a smart move.

In the journey of homeownership, a bruised credit history can sometimes feel like an insurmountable obstacle. But fear not because understanding bruised credit mortgages can be your ticket to achieving your homeownership dreams, even if your credit has a few blemishes. In this comprehensive guide, we'll navigate the world of bruised credit mortgages and provide you with insights to make your dream of owning a home a reality.
 

In the ever-evolving world of commercial real estate, staying financially savvy is crucial. If you own a commercial property and are looking to optimize your finances, you've come to the right place. Commercial mortgage refinancing is a powerful tool that can help you achieve your financial goals, and in this blog, we'll guide you through the when and how of this important process.

As a prospective homeowner, you may have spent countless hours envisioning the perfect abode that suits your lifestyle and aspirations. However, before you can unlock that front door and call it your own, there is an essential step that stands between you and homeownership: saving for a down payment. Saving for a down payment can seem daunting, but you can turn this aspiration into a reality with the right strategies and a disciplined approach. 
Whether you're a first-time buyer, upgrading to a larger space, or relocating to a new area, we will provide valuable insights, tips, and actionable steps to accelerate your savings journey in this blog. From understanding the significance of a down payment to exploring creative ways to boost your savings, we'll cover it all.
 

Applying for a mortgage can be a daunting task, especially when dealing with traditional financial institutions. That’s where Vic Lehan & Associates, your licensed mortgage professionals in Leamington, Ontario, come in. We understand that each mortgage application is unique, and we’re here to guide you through the process, even if you’ve faced challenges with banks in the past. With our extensive experience and personalized service, we aim to match you with the right mortgage solution for your specific needs. In this blog, we’ll share five valuable tips to prepare you for a successful mortgage application.

As you take this significant step towards homeownership, understanding the intricacies of mortgage rates becomes paramount in creating a reasonable budget for your new abode. Influenced by various factors, mortgage rates play a crucial role in shaping your financial commitment. Armed with knowledge and insights will empower you to confidently make informed decisions and navigate the complexities of the housing market with confidence. In this blog, we will delve into first-time home buyer mortgage rates, exploring the factors that influence them and providing valuable information to help you chart a successful path forward. So, let us embark on this enlightening journey together and unravel the mysteries of first-time home buyer mortgage rates in Leamington, ON. Get ready to make informed decisions that will set the foundation for your dream of homeownership!
 

Are you ready to embark on the exciting journey of buying a new home? As a licensed mortgage professional at Vic Lehan & Associates, I understand that the mortgage process can be overwhelming, especially for first-time home buyers. That’s why I’m here to help you navigate through the complexities of obtaining a mortgage. In this blog post, I will answer some frequently asked questions to provide you with valuable insights and guide you toward making informed decisions. Let’s dive in!

Planning to buy a home is an exciting journey filled with dreams and aspirations. However, before you can unlock the doors to your dream house, one crucial factor can significantly impact your ability to secure a mortgage: your credit score. Your credit score reflects your financial responsibility and plays a pivotal role in determining your mortgage's interest rates, loan terms, and overall affordability. Fortunately, even if your credit score isn't where you want it to be, you can take steps to improve it. In this blog, we will explore practical and actionable steps you can follow to boost your credit score and increase your chances of securing a favorable mortgage. So, let's dive in and unlock the door to a brighter financial future!
 

Are you a self-employed individual struggling to qualify for a mortgage due to your income taxes? It can be disheartening when the banks let you down. But fear not! Vic Lehan & Associates, the trusted licensed mortgage professionals in Leamington, Ontario, have specialized programs designed exclusively for self-employed individuals like you. In this blog post, we’ll share a real-life success story of how we helped a client overcome income qualification challenges and achieve their homeownership dreams. Discover the strategies we employed to tackle the issue and how our expertise can make a significant difference in your mortgage journey.

A leading company in Canada's mortgage space is under new ownership

Ontario Teachers’ Pension Plan has announced that its deal to purchase HomeQ Corporation, parent company of reverse mortgage giant HomeEquity Bank, has been completed.

Purchasing a beautiful home in a cozy neighbourhood can be the start of a new life for you and your family. However, before you receive the keys to your new house, you’ll need to overcome the stress test and tackle rising interest rates. So it’s best to work with a mortgage broker.

There are a lot of good reasons to work with a mortgage broker when you're buying or refinancing a home. To help you understand just how valuable your broker can be, here's a list of our top five reasons — we're sure you'll think of more!

1) Mortgage solutions are their area of expertise

You need to find the mortgage or refinance an existing one, but you have questions.
- Where do I start?
- Which lender best fits my needs
- Which lender can offer me the best vale
- Are there really differences between mortgages?
- Which features are best for me?

A recent poll finds more than one-third of respondents spent more time researching their vacation than their mortgage

The Financial Services Regulatory Authority of Ontario (FSRA) is encouraging those entering the real estate market or renewing a mortgage to do their homework, as this is quite possibly the largest investment decision of their life. In a recent poll commissioned by FSRA, 38 percent of respondents said that they spent more time researching their last vacation than their mortgage.

Buying a house, particularly for the first time, can be daunting. The decisions you make along the way could save you or cost you thousands of dollars. Most people who buy a home do so with a mortgage. A mortgage is a necessity if you can’t pay the full cost of a home out of pocket. There are some cases where it makes sense to have a mortgage on your home even though you have the money to pay it off. For example, investors sometimes mortgage properties to free up funds for other investments.

With a desperate need to cool down the housing market in Canada, the government recently amended the qualifying rate of the stress test. The qualifying rate affects how much mortgage applicants can get approved for when buying a house. However, the qualifying rate is not the actual interest rate an applicant pays for their mortgage.

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Clayton Jarvis

Original Article Posted on:  Jul 02, 2021

Link to Original Article:  https://financialpost.com/moneywise/mortgage-debt-in-canada-is-soaring-thats-no-reason-to-panic

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  June 22, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/06/low-rates-helping-borrowers-pay-off-mortgages-at-record-pace/