As a business owner, you have to be on top of many things. Hence, the last thing you need is to worry about the rising costs of renting your commercial property. Unfortunately, we see it all the time: busy professionals like yourself are growing their business and have no idea how to contend with the […]
One of the most underrated benefits of investing in your own home is the possibility of using it as collateral for a second mortgage at a time of great financial need. In this article, we’ll discuss how you can mortgage your home for the second time and why doing so might be a good idea. […]
The process of applying for and securing a mortgage can be confusing for many. It’s not something people do everyday and, simply put, there are several terms and conditions to read though — many of which contain phrases and words that are not common in everyday use. Even using a mortgage calculator or working out […]
When a lender grants a mortgage for a home to a borrower (the “mortgagee”), a formal contract is signed, setting out the terms and conditions of the mortgage. The length of such a contract will be for a fixed period of time. This is called the “mortgage term” (or the “term”). The term can range […]
Almost everyone who buys a home needs a mortgage loan to do so.
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In life, it’s always considered wise to plan ahead and to try to mitigate any potential problems before they arise. That’s why it’s smart to undertake a mortgage stress test, in case your mortgage payments are dramatically increased due to rising interest rates. It may also be helpful in the case that you lose your […]
Don’t get caught in a trap of committing mortgage fraud – the consequences can be prison time, a hefty fine, or a black mark on your credit report. Whether you have a mortgage or in the process of getting approved for one, it’s important to understand what mortgage fraud is and how to protect yourself. […]
Not all real estate is the same — and neither are all mortgages. Therefore, it is important to understand the nuances and differences between various types of mortgages. As an example, let’s have a look at open mortgages and closed mortgages. Indeed, many people ask: what is an open mortgage loan (sometimes called an open-end […]
So, you’ve taken that deep breath and decided to buy your own home. Great! Now it’s time to secure financing and procure yourself the best deal that fits within your lifestyle and your year-round budget. A mortgage broker can be an invaluable resource. Benefits of working with a mortgage broker: A broker is essentially […]
Here is a step by step guide on how the mortgage approval process works to better prepare you before speaking to our brokers at Axiom Mortgage Solutions. Call us!