Author: Cognitive Capital
Rent to Own Homes vs. Mortgage: How Do They Work?
If you’re hoping to achieve your dreams of homeownership, rent-to-own and mortgage are two options to consider. Here is everything you need to know about these unique approaches to home ownership. Have you decided to be a homeowner? The first step is to determine whether you are qualified for the mortgage. However, if your credit…
Bank Of Canada Rate Update January 26, 2022
Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the Bank has removed its…
Top 10 Questions to Ask Your Mortgage Broker in Ontario
Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the process. Before settling on a Mortgage Broker, there are questions that you should ask. Explained below are the top 10 questions you should…
How Much of A Mortgage Can You Afford?
How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer’s due diligence in calculating how much mortgage they can afford. Mortgage affordability depends on several factors that lenders use at their discretion to determine if and how much they can…
Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario
What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower’s information to determine their creditworthiness. Pre-approval is an in-depth review of the borrower’s financial situation and credit score to determine the mortgage application’s status. While both terms sound almost similar, pre-approval often puts…
Bank Of Canada Rate Update December 9, 2021
Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank’s extraordinary forward guidance on the path for the overnight rate…
What to do if You Are Denied a Mortgage
Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests for many reasons. Fortunately, you should not give up hope -you have options to improve your credit score, reapply and get your mortgage application approved. Nobody loves getting the news that…
How to Know if it’s Time to Refinance
According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits homeowners in several ways, including reduced monthly payments and better mortgage rates True to fact, refinancing helps to save money. However, it needs to be done for the right…
Bank Of Canada Rate Update Oct 27, 2021
Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank’s extraordinary forward guidance on the path for…
Five Great Benefits of Owning an Investment Property
Maybe you have considered investing in real estate but aren’t sure if it’s the right move for you. There are several benefits to an investment property, from the pride of ownership to the monetary boons and financial security. Choosing the right property will not only help build your credit and equity but can provide a…