Are you going to apply for a construction mortgage? Unsure if you qualify for a construction loan? Similar to a residential mortgage, homeowners can apply for a construction mortgage to cover the costs of financing a renovation or building project. These mortgages are a perfect choice for all of your building needs, regardless of whether...
The Office of the Superintendent of Financial Institutions (OSFI) Canada recently eliminated the stress test requirement for all mortgage renewals, no matter insured or uninsured. With over 70% of Canadian mortgages being uninsured ones, homeowners can now switch to a different lender to take advantage of a better deal, without feeling stressed about mortgage stress...
In its recent rate cut, the Bank of Canada dropped its benchmark interest rate by 25 basis points for the second time this year, lowering it to 4.5 percent. This is the lowest rate ever since April 2023. If you are planning to apply a mortgage, may be now is the best time to apply...
Struggling with high monthly mortgage payments? Sandhu & Sran Mortgage Brokers are here to help with mortgage refinance in Abbotsford. This could be the solution to lowering your costs and unlocking your home equity for more financial flexibility. But first, let’s understand what mortgage refinancing is and how it can benefit you. Mortgage refinancing involves...
The changed scenario in the housing market of Canada can be pretty exciting and overwhelming for first-time homebuyers. Just recently, it has become possible to stretch mortgage terms up to 30 years. Although this can provide some flexibility in the management of the monthly payments, there is still a careful weighing of the advantages and...
