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Mortgage Default Insur…

25 Sep - Are you planning to purchase a property with less than 20% down payment? If yes, you require mortgage default insurance which generally adds 0.5% to 3% to the cost of the amount of the mortgage depending on the total amount borrowed. Mortgage default insurance enables you to…

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Asses Financial Readin…

25 Sep - What do lender require? Mortgage lenders use two calculations to help determine your eligibility for a mortgage - your Gross Debt Service (GDS) ratio and your Total Debt Service (TDS) ratio. Your GDS ratio is the percentage of your gross monthly income used for mortgage payments,…

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Consider Mortgage Opti…

25 Sep - What type of mortgage is best for you? Fixed rate mortgages: Your interest rate is locked in for a specific period called a term. Your payments stay the same for the mortgage's term so you will not pay more if interest rates increase over time. Variable rate mortgages: Tate…

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