Under Mortgage

Going From A Variable Rate To A Fixed Rate Mortgage

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you could end up paying a significantly higher mortgage penalty should you need to break your mortgage before the end of your term. [read more]

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How Do You Port a Mortgage?

Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big banks would lead you to believe, porting your mortgage is not an easy process. It’s not a magic process that guarantees you will qualify to purchase a new property using the mortgage you had on a previous property. [read more]

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What Is A Spousal Buyout?

Divorce or separation can be a challenging time, especially when it comes to dividing assets like property. However, there is a little-known mortgage product that can make the process easier. The spousal buyout program allows you to refinance your property and buy out your ex-spouse or allow your ex-spouse to buy you out, up to 95% of the property's value. Here are some frequently asked questions about this program. [read more]

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