Richards Mortgage Group Articles

Your lender will register what is known as a “charge.” This process provides a means of securing a mortgage or other loan against your property

My phone rings, chat bubble bubbles, or my email dings ... "what's your best interest rate?" asks the caller. I scratch my head, as at this point I know nothing about my caller, the property or their needs. This article's aim is to shine a light on this question from the mortgage-lending side of the fence and delve into what it takes for a mortgage professional to be able to accurately answer your question.

Last updated September 22, 2023 The current law in Canada requires residential mortgages with less than 20% down payment be CMHC-insured against borrower default. The insurance premiums can be in the tens of thousands of dollars, and many prospective buyers wonder how to or if they can avoid CMHC fees. This article explores the costs and benefits of CMHC mortgage default insurance to determine its significance. In summary, mortgage default insurance allows you to stop dreaming and start doing!

Death of a loved one brings about many changes not to mention strong emotions. Often the kids are thrust into uncharted territory when a potential property inheritance or residual debt is involved. Whether a cottage on the lake, farm land, or a house in the city, this article is about how to best view the budding situation, dissect the issues, and how mortgage financing can potentially help out. It can apply where there is one party to many.

Three-part series on best Canadian cities to invest in

(Last updated 2019) Yes and No. In Canada it is still possible to finance 100% of a property's value if you know the rules and criteria. BUT... you need excellent credit history and reliable employment. Here's how to purchase a home with zero-down payment.