Mortgage Consultant in Abbotsford
https://satbirbhullar.ca/

Tips To A Stress-free Mortgage Renewal Process

Is it almost time to renew your mortgage? As a borrower, you have the option of looking for alternatives that better suit your financial situation or obtaining a cheaper mortgage rate each time your loan comes up for renewal. When it comes to renewing, going with your present lender may not necessarily be the best option and you can consider switching your existing lender with a new one, if the new one is offering better rates. The common misconception about mortgage renewals is that the process of switching lenders can turn out to be both time-consuming and complex.

What Happens If I Miss a Mortgage Payment?

Are you a responsible mortgage holder but somehow forgot to pay your monthly payment? Every mortgage holder needs to repay the funds they received upon mortgage approval via monthly payments.

satbirbhullar.ca

What Happens If I Miss A Mortgage Payment?

Explore the consequences of missing a mortgage payment along with the possible repayment options you may have.

Government Introduces Decades Boldest Mortgage Reforms For Mortgage Borrowers

The federal government is working to make mortgages more affordable so that more Canadians may become homeowners, while also taking strong steps to defend the rights of house purchasers and renters. Today, as promised in Budget 2024, the government unveiled plans for a Renters’ Bill of Rights and a Home Buyers’ Bill of Rights. These new plans will safeguard tenants from unfair tactics, simplify leases, and boost price transparency, as well as make the home-buying process more fair, open, and transparent.

The government is collaborating with provinces and territories to implement these designs by using the $5 billion in funds available through the new Canada Housing Infrastructure Fund. As part of these negotiations, the federal government is urging provinces and territories to take steps such as protecting Canadians from renovictions and blind bidding, standardizing lease agreements, making sales price history available on title searches, and much more to make the housing market more equitable across the country.

Want to know how this new rate cut is going to impact your mortgage payments? Feel free to talk to our expert mortgage brokers in Abbotsford and we’ll guide you through.



For more insights, visit:
https://satbirbhullar.ca/blog/....government-introduce

How To Qualify For A Mortgage With A Low Monthly Income?

Need a mortgage but worried about if you’ll qualify or not? It may be difficult to obtain a mortgage, but for certain borrowers having established companies, bank statements or reference letters may be sufficient to get approved for a mortgage. It may be difficult to obtain a mortgage for borrowers with newly started cash companies, and bank statements or reference letters may not be sufficient for approval. Borrowers try sealing a mortgage deal when the interest rates go down, but often forget to consider their annual income. If you are unable to demonstrate sufficient income to qualify for a mortgage, banks may reject your application, but alternative lenders can lend more based on your overall ability to pay.

For more insights, visit:
https://satbirbhullar.ca/blog/....how-to-qualify-for-a