Gurbir Sandhu

Are you Confused, to choose between Mortgages or Buying Upfront?   Then the answer is simply YES Go for a Mortgage, it gives you a lot of benefits. Apart from being an option for those unable to buy a home upfront, one major benefit to financing has been the ability to write off mortgage interest. When you deduct your mortgage interest, your payments don’t decrease month to month, but your income taxes for the year do, lowering your costs overall. Taxes: Government of Canada offers various tax breaks and credits for home buyers. Growth: It is expected of you to experience growth […]

The different types of mortgages available in the Canadian Mortgage Market offer a great variety of solutions to a  borrower. The right kind of mortgage selection is, where a Mortgage Broker can help you with. Based on mortgage rates and repayment options, primarily there are the following 6-kind of mortgages Conventional Mortgages High Ratio Mortgages Open Mortgages Closed Mortgages Fixed-Rate Mortgages Variable Rate Mortgages (VRM) / Adjustable Rate Mortgages (ARM) Conventional Mortgages A mortgage where the down payment is equal to 20% or more of the property’s value/purchase price. A low-ratio mortgage does not normally require mortgage protection insurance. High Ratio Mortgages A high ratio mortgage is […]

No two home buyers are alike, so the best mortgage option for one borrower is likely unsuitable for another. It’s up to the buyer and his or her mortgage broker to make the right decision based on the individual needs.   What are the most popular mortgage options in the Canadian Market? Well! in general, small to mid-size mortgages are most popular, as demand for these is certainly the most. Small size mortgages are secure for both lender and borrower. Canada Mortgage and Housing Corporation (CMHC) + The Canada Mortgage and Housing Corporation (CMHC) is a government department that acts […]