Louise Bull Barton is My Long Trusted Mortgage Broker Friend:
If you are considering purchasing a property & need financing
or you may be considering re-mortgaging an existing property or possibly
taking some equity from your property by way of a new first or second mortgage or line of credit to allow you to complete some renovations?
You need to talk to a friendly no-nonsense Mortgage Professional. Talk to Louise, she will assist you in any way she can, she is an informative professional Mortage Broker who cares! To email Louise: email@example.com
Another FABULOUS MORTGAGE PERSON IS NICK TAVERNESE!
Nick is the Mobile Mortgage Specialist for The Royal Bank. Very knowledgeable, trustworthy & always with the best of intentions for all clients we send his way. If you think going with a major lender is in your future, you owe it to yourself to speak with Nick,, he will get you the best rates available for your particvular situation, he is never too busy to sit down & have a chat to make sure you understand the many ways you can finance your purchase. Contact Nick today to find out what he can do for you! NickTavernese@RBC.com
Understanding why you need to have Insurance for your mortgage for which the bank is the beneficiary may be the irst step you want to take to ensure you know what you and paying for & why!
CMHC insures your mortgage to guarantee the bank that in the case of an unforeseable continuous default by you of your mortgage payments that results in the banks foreclosure of their mortgage (wherein they take action to put your property in to a Power of Sale situation to get their investment back)
CMHC guarantees that if that foreclosure results in a shortfall for the bank CHMC pays the difference to the bank.
This insurance, although paid for by you, is not for your benefit but for the banks benefit & protection
It is a price we must all pay if we do not have at least 20 percent down payment & we need the bank to give us a high ratio mortgage.
High ratio Mortgages allow us to get in to a home much sooner than we normally would if we had to wait until we had saved the entire downpayment.
Instead we get a CMHC insured mortgage, we pay a premium, the banks mortgage is insured & we can start building equity much sooner than if we had waited until we had saved all of the down payment required to avoid having to be insured against.
See the link below for more information & calculations:
Who is the Central Bank?
Do they really control our interest rates?
What influences the decision to increase or decrease interest rates in Canada?
Learn more by reviewing the link below: