Getting out of debts isn’t as difficult or scary as it used to be, thanks to Canada’s Office of Consumer Affairs. They provide an online resource called the Take Charge of Your Debts tool where you will find all the information needed about debt all in one place, along with helpful tips and solutions for getting out of debt.
The Office of the Superintendent of Bankruptcy Canada also provides online information on how to avoid debt and ways to improve your financial circumstances. If you are struggling to pay off your debts, their website can help you understand what bankruptcy means to you and what the process entails.
You don’t have to run away from your problem, you need to face them bodly. This is why the Canada Mortgage Housing Corporation (CMHC) provides online resources to help educate and prepare homeowners on ways to confidently approach their lenders, how to discuss your financial difficulties, and also on the repay solutions for your mortgage loan.
You can find information on repaying your student loan, including assistance that may be available to you and the repayment process at CanLearn.
Yes, the answer is yes. The rate charged to you by the lender makes all the difference, allowing you to have some extra cushion at the end of each month and even shave a few years off the mortgage life. Jmoenta is committed to providing you with the lowest possible borrowing cost.
When setting interest rates, lenders typically use risk-factor analysis. Much of it is due to the inherent risk. Simply put, they charge higher interest rates for riskier borrowers (those with bad credit, high debt ratios, etc.) As a result, lenders provide different mortgage rates to different borrowers. In Jmoneta, we have perfected the system that will match you with the ideal lender.
This is one of the most frequently asked questions by potential buyers and homeowners. Fact: When it comes to mortgages, you should never compare your situation to anyone else’s because each mortgagor has a unique situation, and their goals may differ from yours. For example, if you intend to sell your property within the term or have a moderate to high risk tolerance, fixed rates may not be appropriate for you. When it comes to choosing the type of rate, our mortgage specialists at Jmoneta will be able to help you make an informed decision.
That is a valid question, and you should discuss it with your broker before making any commitments. Normally, brokers are paid a “finders fee” by the lender, but keep in mind that finding the right deal, or the best rate, is an important reason for people to use a broker so you can get their preferred rates, which are only available to licensed mortgage agents. Our mortgage brokers at Jmoneta actively work with a wide range of lenders, including major banks, small lenders, insurance companies, trust institutions, and private lenders. We have access to lower interest rates, allowing you to borrow at the lowest possible cost.
With the constant changes in mortgage laws and regulations, you only have one shot to get your mortgage approved or at least a preferred rate. You can work directly with banks in most cases, but when it comes to negotiating, preparation, and presentation, that’s where brokers come in. A good broker understands which lenders to approach on your behalf and how to carry out the transaction smoothly. With Jmoneta, our mortgage brokers will go to bat for you in order to obtain the best interest rate and lowest cost of borrowing.