7 March 2014
Category:
Mortgage&Loans

CMHC to Increase Mortgage Insurance Premiums by approximately 15%

CMHC to Increase Mortgage Insurance Premiums Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, […]


11 September 2012
Category:
Mortgage&Loans

Collateral mortgages: Why banks like them

Collateral mortgages: Why banks like them[1] If you’re buying a house and are shopping for a mortgage this spring you may come across something called a collateral mortgage. This home financing tool has been around for a while, but mainly in the background. Now it’s going mainstream with both TD Bank and no-frills ING Direct […]


10 September 2012
Category:
Mortgage&Loans

Beware the pitfalls of collateral mortgages

Beware the pitfalls of collateral mortgages[1] When you apply for a mortgage, you usually just ask about the term, amount, interest rate and monthly payment. Not many people understand the difference between a conventional mortgage and a collateral mortgage. Yet many banks are now asking borrowers to sign collateral mortgages — and it could result […]