If you are rate shopping, you’ll notice that the lowest available rate will be for a variable mortgage. Which is why I am often asked: “What does variable mean, and how is it different from a fixed-rate mortgage?”

Navigating the world of mortgages and debt consolidation can be tricky, and you may find yourself in a situation where you need help. However, having the correct information and guidance can make things considerably easier.

DIY or do-it-yourself activities are a great test of creativity and an excellent opportunity to overcome economic constraints. They can also be a therapeutic or fun leisure activity. However, as the DIY craze catches on and with more information about different tasks and jobs readily available on the internet, many believe almost any project can be completed swiftly as a DIY, even applying for and successfully getting a mortgage.

Today more than ever, we worry about rising interest rates. The Bank of Canada has increased the overnight rate several times starting in March 2022. They started at 2.45% and have increased them FAST to 5.45% in a relatively short period of time. During this time, they continue to say that they must keep doing this as inflation (including houses) is still red hot.

Seniors on a pension or fixed income have a very hard time qualifying for a traditional mortgage or line of credit. A Reverse Mortgage is an equity-based lending program that allows seniors over the age of fifty-five to access their equity without the burden of monthly payments that would normally be required on a traditional mortgage or line of credit. This financing solution lets retirees tap their homes for whatever cash they need in their later years.

Mortgage brokers assist clients with home purchases, mortgage approvals, renewals and refinancing. With their expertise, they help you deal with complex transactions.

As a leading mortgage broker at Rowan Smith Mortgage Broker - City Wide Mortgage Services, I pride myself on providing high-quality mortgage services at affordable prices, and over the last several years, my success has been driven by happy clients who have given me referrals and written positive reviews about our services. While quality is something that runs through my veins, so does gratitude.

Home purchases are one of the largest purchases to get through, for most people. While some are meticulous, others can be a complete nightmare. Through the pandemic, there were a lot of people moving because they were finding it easier and less expensive to pay rent when they were not in the city. Additionally, it made a lot more sense to move to the suburbs because they were working remotely for the most part anyway.

It’s official! Interest rates are steadily rising, which could eventually cool down home prices as people’s purchasing power erodes. However, for now, it’s created uncertainty and affected the Stress Test significantly.

You may be surprised if you’re wondering whether you can use your home equity to pay taxes. The answer is yes, you can. If you have good credit and some equity in your home, then you can use that to pay back your taxes. However, doing so is no easy task, and if you are not aware of the procedure, you will probably encounter multiple problems.

If you’re in the process of buying a house, chances are that you’re looking for a mortgage product to match your financial situation and requirements. However, during this process, many people end up falling for the number of misconceptions and myths about mortgage brokers, causing them to question the need to hire a broker for assistance.

I’m Rowan Smith, the proud owner of Rowan Smith Mortgage Broker - City Wide Mortgage Services. I look forward to sharing my story. I hope that you will enjoy getting to know me better.

I’m Rowan Smith, a Mortgage Broker, attached to City Wide Mortgage Services. I have over twenty-one years of banking and brokering experience, which helps me offer effective lending solutions to my clients.

Whether you’re considering buying or building a home, starting a new business, or putting together money to consolidate a previous debt, a mortgage is one of the most cost-effective ways to raise the necessary amount. However, while mortgages are advantageous, availing of them can be challenging depending on your credit history, employment status, and other factors. This can often lead to unnecessary stress and roadblocks.

Rowan Smith Mortgage Broker - City Wide Mortgage Services wishes you and your family a wonderful Holiday Season and a happy, healthy, and peaceful New Year 2022!

A mortgage is one of the most significant investments that most people will make in their lifetime. Therefore, to ensure home seekers can afford to take on the massive debt, a stress test was introduced in 2018, which shook up the industry.

I’m Rowan Smith, a mortgage broker in Vancouver, BC, with twenty-one years of banking and broking experience. I co-own City Wide Mortgage Services with my three business partners, and take care of mortgage services and private lending.

I’m Rowan Smith, a mortgage broker at City Wide Mortgage Services, and I understand that closing the deal on a house can be quite a challenge. However, closing is the final and likely most crucial stage of your home buying journey, so being prepared can help you keep the process moving forward so you can get into your dream home quickly and easily.

Completing a pre-approval, finding a mortgage lender, and navigating through the terms and conditions can be made easier with the help of an experienced mortgage broker. However, when it comes to securing a mortgage, clients have a ton of questions regarding the process but often find answers difficult to come by.

Original Article Source Credits:   Yahoo News , https://ca.news.yahoo.com/

Article Written By:  NA

Original Article Posted on:  June 2, 2021

Link to Original Article:  https://ca.news.yahoo.com/tougher-stress-test-makes-harder-025943912.html