That’s a firm maybe! 😉 Confirming the property value is mandatory in every mortgage transaction. Sometimes this is done by getting a full appraisal, but not always.
All posts by sarah sloane
sarah sloane
How do I choose the right mortgage?
talk with someone who listens to you, who asks you questions specific to your situation and presents options based on your personal needs. don’t be shy about asking why a product was offered focus on your goals first, then narrow down to what’s out there that meets your needs. Too often, people look at all […]
What is “title”?
Title is a legal term that means you have legal ownership of property.
What is title insurance?
It’s insurance that can help protect you against problems related to the title of your home. Title insurance can cover the lender, or you can take out your own title insurance policy to benefit you. You can learn more here, or here. And the Financial Services of Ontario made a pretty excellent brochure that you […]
Is a HELOC (Home Equity Line of Credit) considered a mortgage?
Yes, it is 🙂
Can I buy a second property with 5% down if I’m staying in my current home?
Yes, in some cases, you can. You can find a list of eligible properties here.
What is a “HELOC” (Home Equity Line of Credit)?
It’s a line of credit that you get using your property as collateral. When you use your property as collateral for the loan, you’ll typically get a lower rate than you would on an unsecured credit line. You can charge it up and pay it down just like any other line of credit, allowing you […]
What does “equity” mean?
Here’s how we figure out the value of your property…in case you were wondering 😉
What can I afford to buy?
What you feel you can afford and what you can qualify for are often two different numbers. There are all sorts of budget templates you can find with a quick Google search. That’s a good place to start. An even better way is to spend a few months tracking your income and your spending. Write […]
How do I figure out what I qualify for?
If you’re looking for an accurate answer, you ask one of us 🙂 No, really…there are lots of variables that are taken in to account and we can help you sort them out. If you just want to try it on your own, go here and get ‘er done!