What Are the Types of Houses in Canada
What Are the Types of Houses in Canada There is a variety of houses you can purchase in Canada, including condominiums, townhouses, and detached and semi-detached homes. If you plan to rent or buy a house in Canada, you must decide which house fits you or your budget. Since each type of house has unique […]
How To Secure A Mortgage After Landing A New Job
How To Secure A Mortgage After Landing A New Job When planning to purchase your first home, lenders focus on one crucial factor: your future income stability. Landing a new job comes with lots of excitement, but it can also ignite worries about qualifying for a mortgage with a relatively fresh and possibly uncertain source […]
Consolidate Debt Through Mortgage Refinancing in Canada
How To Consolidate Debt Through Mortgage Refinancing in Canada Many Canadians face the burden of credit card debt. If your debt is taking a toll on your financial and mental health, it might be wise to consolidate debt into a single loan. This approach lets you settle your balances entirely and manage your debt with […]
Closed Vs. Open Mortgages: What’s The Difference?
Closed Vs. Open Mortgages: What’s The Difference? When deciding between a closed and open mortgage, the primary consideration is whether you want lower interest rates or flexibility. Whether you’re looking to renew your existing mortgage or a new one, you must decide whether to go for a closed or open mortgage. Although closed mortgages sometimes […]
How to Get a Second Mortgage in Canada
How to Get a Second Mortgage in Canada? A second mortgage in Canada is an additional loan secured against a property that already has an existing mortgage. While it can help access cash from your home’s equity, it also means managing two loan repayments at once — and there’s a risk of losing your house […]
How to Properly Compare Mortgage Interest Rates in Canada
How to Properly Compare Mortgage Interest Rates in Canada The interest rate is crucial when buying a home or refinancing your mortgage in Canada. But with so many options, how do you compare mortgage interest rates in Canada effectively? At Superb Mortgages, we recognize the significance of securing the best mortgage interest rate for your […]
5 Hacks to Increase Your Chances During the Canadian Stress Test
5 Hacks to Increase Your Chances During the Canadian Stress Test Many Canadian homebuyers encounter obstacles with elevated home prices and interest rates, making the stress test a crucial barrier to obtaining a mortgage approval. The mortgage stress test was introduced as a precautionary measure to ensure your ability to comfortably cover mortgage payments if […]
RRSP Home Buyers Plan in Canada: How Does it Work, Who Can Use It?
RRSP Home Buyer’s Plan in Canada: How Does it Work, Who Can Use It? The Home Buyers Plan, or HBP, is a Canadian government initiative enabling homeowners to withdraw a maximum of $35,000 from their Registered Retirement Savings Plans (RRSPs) to assist in financing their initial home acquisition. HBP applicants can utilize the funds to […]
Mortgage Lender in Canada, How to Choose?
How to Choose a Mortgage Lender in Canada? When looking to purchase a home in Canada, make sure to explore various mortgage options. Compare interest rates offered by different mortgage lenders in Canada, including banks, credit unions, and mortgage investment corporations. This will help you find the best deal for your new home. Securing a […]
How To Increase Your Mortgage Preapproval Amount?
How To Increase Your Mortgage Preapproval Amount? If you’re planning to buy a home in Canada, you’ve probably come across the term “mortgage preapproval.” It’s a thorough look at your finances to see if you’re eligible for a home loan and how much you can get. This helps you know your financing limit before house […]