Search:

Gregory van Duyse's Articles

Display Category|Title|Newest|Oldest
  • How to save on Mortgage Penalities (hypotheque)
    No borrower wants to pay a penalty on his home loan! That’s for sure, but all mortgage loans, apart from some unusual types of open mortgages, have penalties for prepayments. The question of penalties includes many aspects which need clear explanation and examples in order to be able to fully comprehend them.
  • How do lenders calculate Mortgage Penalities (hypotheque)
    No borrower feels that it is fair to pay a penalty on his mortgage. However, except for some unusual types of open mortgages, all mortgages have prepayment penalties. This is a complicated subject, requiring detailed explanations and can usually be better understood with examples.
  • The variable mortgage strategy - Hypotheque
    The interest rate on a variable rate mortgage is based on the base rate of the large Canadian banks. The borrower will pay a rabais over this base rate. A variable rate loan is always quoted as the base rate minus some kind of percentage.

    Example: “Base rate minus 0.90%”. In this case, if the base rate is 6.00%, the client will pay 5.10% on his loan (6.00%-.90%) for the period of this base rate. A couple of months later, if the base rate is 5.25%, the loan rate will be 4.35% (5.25%-.90%) for the period of the new base rate. The Bank of Canada establishes the rate 8 times per year. This does not mean that the rate will necessarily change 8 times per year, but it is possible.
  • The fears of mortgage lenders.
    Once you understand what mortgage lenders don’t want to face, you will better understand whether or not your application will be viewed in a good light by the mortgage lenders you apply to - taux hypothecaire.

    A lender has two big fears:
    - Losing Time
    - Losing money.
  • Should you work with a mortgage broker, a mortgage marketer, or a bank representative?
    You can be sure of one thing, it is the integrity and expertise of your mortgage advisor that will make the most difference. There are very good local bank branch representatives, very good mortgage marketers and very good mortgage brokers. Of course, there are very bad ones as well. It is the individual in the position who will make the most difference in the long run - taux hypothecaire.
  • The expertise of your mortgage advisor
    This new development allows mortgage advisors to concentrate on a certain field and thoroughly understand all of the complications of their field. I believe that more and more mortgage advisors will start to specialize in this manner as the market becomes more competitive. Finding a speciality like this will improve their competitiveness - courtier hypothécaire.
  • Why Integrity Is A Most Important Quality Of Any Mortgage Consultant.
    The definition of integrity is: “The character or quality of an honest incorruptible person, of whom the conduct of his acts is above reproach.” Does the mortgage broker demonstrate that he will place your interests before the interests of the lender? - courtier hypothecaire

    The answer should be YES!
  • How do you choose your mortgage consultant? - Courtier hypothecaire
    It is not very difficult to find a good mortgage counselor. Just as you would hire someone to work for you, think of your mortgage counselor as a good employee who will be with you in the future. He should be, because he will be there to help you save money over the next 15 or 25 years - courtier hypothecaire.

    Important areas to think about when you are looking for a good mortgage broker:
  • Mortgage tips: How to acquire downpayment for your mortgage - hypotheque.
    When you apply for a mortgage, one of the most important issues the bank will look at is whether you have a down payment and how much it is. Even a small one will have an influence on the loan - hypotheque.

    There are many different ways to obtain a down payment for your home. There are the standard, usual ones, but there are others that most people don’t know about but I have learned about over the many years I have been advising my clients regarding their mortgages. Basically, there are three ways - hypotheque:
    A. Your own money
    B. A gift from a relative
    C. Funds obtained from other people or in a different way
  • How to make your mortgage tax deductible (the Smith Maneuver) ?
    There is a home loan strategy called “the Smith Maneuver” that lets you achieve all of these goals, all at the same time - taux hypothécaire.

    This strategy is named for Fraser Smith, a financial planner from British Colombia who invented this strategy a few years ago (see the press review). I encountered Fraser in Toronto at a mortgage strategy seminar (there were three brokers from Quebec).
  • Does paying your mortgage weekly or every two weeks really have an impact over paying it once a month? - prêt hypothéca
    The more payments that are made, the more you will save on your mortgage, even if you do not increase the amount being paid. So, make your payment each week to get the most savings. If you can’t do this, at least do it every two weeks.
  • Open Mortgage – A good idea? (taux hypothecaire)
    An open mortgage (taux hypothecaire) can be astrategicmortgage tool that can prevent high early payout penalties. It should, however, only be used if the chances are very high that the mortgage will be paid off in the next 12 months. If the mortgage is not expected to be paid off within that time frame (13 months or more) it is more advantageous to take the fixed rate home loan and pay the payout penalty.
  • The long term loan strategy - hypotheque
    Is it good to take out a longer amortized mortgage?

    The purpose is surely not to take a longer time to pay off your mortgage, or to pay more mortgage interest on your mortgage - hypothèque. As a matter of fact, most people stilll choose a 15 to 25 year amortization schedule.
  • Who decides the future of mortgage rates? - hypotheque
    This is a complicated topic and this is a very simplistic explanation. If you consulted a library or searched on the internet, you would find literally thousands of items on the topic of how interest rates are determined. We will look at the Bank of Canada’s fiscal policy and the fixed income market (taux hypothecaire).
  • The loan strategy for “less than perfect credits” (taux hypothécaire)
    If you are one of the ones with less than perfect credit there is a strategy that you can follow in order to achieve your dream of owning a home. You will need to follow it in three to four steps; it can’t happen immediately, but following these steps will mean that eventually you will obtain the best home loan rates (taux hypothèque) available to you.
  • Why do mortgage brokers work for their clients and not for lenders? (courtier hypothecaire)
    A mortgage consultant (courtier hypothécaire) will earn his livelihood by the fees he receives. They want to build up a satisfied client base so that their reputation, and consequently the amount of business (and commissions) will grow.
  • The “5 by 5” (Renew a fixed five year mortgage five times) mortgage strategy (pret hypothecaire)
    As the name tells us this strategy consists of mortgaging a property with a five year fixed mortgage loan and subsequently renewing it for the same term at the expiration of each loan, (prêt hypothecaire) that is to say, every five years.Visit any bank or call any broker and if you ask them for the best rate, they will automatically give you the five year fixed rate as if it were understood that you wanted the five year fixed rate.
  • How is your mortgage consultant –courtier hypothecaire- paid?
    Of course, a broker must receive an income for his efforts, just as your lawyer, accountant or other expert who performs services for you does. However, in the case of a mortgage broker, his fees are paid by the lending institution (Intelligence Hypothecaire) he places the loan with. This fee is based on the size of the home loan, and so the mortgage consultant has no control over how much his commission will be, in most cases. For instance, a $200,000 loan will net a fee that is twice as much as a $100,000 loan
  • A powerful tool to save thousands on your mortgage (hypothèque)
    There is a more important issue to look at. Instead of solely relying on obtaining the lowest interest rate, a mortgage borrower should be concentrating on following the correct "mortgage strategy". There are various mortgage strategies that one can follow, from fixed to floating rate loans (taux hypothecaires), balloon loans or prime rate based loans. Working with a mortgage lender who is knowledgeable about the markets, looking at yield curves and who studies your individual circumstances to devise the perfect mortgage strategy for you is going to save you a great deal more money over the life of your home loan. It can probably save you tens of thousands of dollars in total mortgage costs, rather than less than $100 per year.
  • How to beat the lowest home loan rates(taux hypothécaire)
    A good home loan (hypothèque) strategy can make you save up to 20 times more on your loan than getting only the lowest mortgage rate (taux hypothécaire). A certified mortgage consultant (courtier hypothécaire) can help you finding the right strategy for your loan.
More Articles
Sign Up for a free account or learn more.
Submit Articles
Member Login
Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds
New Stuff
About Us
Link to Us
Contact Us
Privacy Policy
Terms of Service
Must See These
Article Manual
Right Article
Health Manual
Web Directory

Powered by Article Dashboard