Several factors can trigger the decision to transfer a mortgage or add someone to a mortgage. The most common reasons include major life events like marriage or a change in financial capacity. Most people wish to add their spouses to the mortgage, and others may want to share the property costs with siblings, children, or...
Purchasing a home is one of the most significant investments you can ever make. If you plan to buy a home, you have probably started saving some money for the down payment. The amount of money you need to save will depend on the minimum down payment as well as the amount you can afford...
It’s the end of the mortgage term – what happens? In Canada, renewing your mortgage once it reaches its terms, regardless of whether you’ve paid it up or not, is a standard procedure. However, this shouldn’t be taken lightly because mortgage renewal isn’t guaranteed. When applying for a mortgage, you’ll sign a contract that sets...
A rental property creates an extra income stream for investors. Buying rental properties requires significant funding that may not be within your reach. Fortunately, prospective property owners can access a rental property mortgage to acquire a rental property in Ontario. Qualifying for a mortgage on a rental property is typically hard, thanks to the stringent...
A borrower might consider getting a cosigner if they are worried that their income or credit score could make it difficult to qualify for a mortgage. A cosigner assumes the same responsibility as the mortgage borrower, even if they do not live in the home. Therefore, even if cosigning a mortgage in Ontario can help...
When searching for a great loan to buy a dream home, homebuyers turn to businesses like yours. Homebuyers no longer comb through the Yellow Pages to find a loan officer. They use search engines. Not putting enough effort into search engine optimization (SEO) can put you at a disadvantage. The good news, however, is that...
Firstly, what is a CRA account? Let Turkin Mortgage walk you through. Canada Revenue Agency account is an essential aspect for every Canadian resident and citizen who has to file returns. The agency uses the platform to administer tax-related policies, bring relevant programs and tax credits to the users regardless of the territories and provinces....
Getting a credit card that suits your spending preferences is becoming easier in Canada with each passing day. However, failure to manage it properly can result in a huge financial mess that may end up changing your lifestyle forever. That is why you should compare the pros and cons of credit cards before using them....
Most people are struggling with the question of what is the penalty for breaking a mortgage in Toronto or Canada? The competitive mortgage products are making this decision difficult. Before deciding, consider whether breaking your contract will help you save money or bring you several costly penalties. Differentiating the amortization and mortgage term when you...
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