Mortgage Tips Chi Ying Tammy Lui 17 Sep
When comparing mortgage options, it is natural to focus on the interest rate first. A lower rate can certainly matter. But it is only one part of the mortgage contract. For Ontario homeowners who may move, sell, refinance, switch lenders, or make extra payments before the end of the term, the flexibility built into the […]
Read MoreMortgage Tips Chi Ying Tammy Lui 8 Sep
If you are self-employed, you may have looked at the income shown on your tax return and wondered: “Will a lender only use this number when I apply for a mortgage?” The answer is not always straightforward. Self-employed borrowers can have income structures that look very different from those of salaried employees. Depending on the […]
Read MoreGeneral Chi Ying Tammy Lui 31 Aug
If you’re 55 or older and own a home in Ontario, you may have built substantial equity in your property while finding that your retirement income does not provide the same flexibility as your working income. A reverse mortgage is one way to access some of that home equity without selling your home or making […]
Read MoreMortgage Tips Chi Ying Tammy Lui 25 Aug
HELOC or Second Mortgage — Which One Should You Choose? A client recently asked me: “If I need to access some of the equity in my home, should I get a HELOC or a second mortgage?” It is a common question because both options allow homeowners to borrow against home equity, but they are not […]
Read MoreMortgage Tips Chi Ying Tammy Lui 14 Aug
A private mortgage can provide an alternative financing solution when traditional bank or institutional financing is not currently available. But obtaining the mortgage is only one part of the plan. Before entering into private financing, it is important to consider a key question: How will you exit the private mortgage when the term ends? For […]
Read MoreMortgage Tips Chi Ying Tammy Lui 7 Aug
High-interest debt can become difficult to manage when several payments are due every month. A homeowner may have a mortgage payment, credit-card balances, unsecured lines of credit, car payments and other obligations. Even when household income is reasonably strong, the combined monthly payments can put considerable pressure on cash flow. For homeowners with sufficient home […]
Read MoreMortgage Tips Chi Ying Tammy Lui 1 Aug
Don’t Just Sign Your Mortgage Renewal: 5 Things to Review Before You Renew When your mortgage renewal offer arrives, it may seem easiest to simply sign and send it back. However, your mortgage renewal is an opportunity to make sure your mortgage still fits your financial goals—not just today, but for the years ahead. Many […]
Read MoreMortgage Tips Chi Ying Tammy Lui 17 Jul
Buying Your First Home: 5 Common Mistakes Buying your first home is exciting… 1. Shopping for a Home Before Getting Pre-Approved Many buyers begin looking at homes before understanding how much they can comfortably afford. A mortgage pre-approval can help you: Understand your budget. Strengthen your offer. Identify potential financing issues early. Shop with greater […]
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