The many types of mortgages in Canada
A mortgage is used to buy a home in Canada, but it’ll be up to the homebuyer to decide what the flexibility and type of interest rate they want with the mortgage.
Alpine Blog
Tools and tips from our team of experts to help you make the best decisions for your financial future.
Category: Property
Get home renovation loans with bad credit
Renovating your home is an exciting endeavour. Seeing your home get a full makeover has many benefits, but it’s important that you consider how you can cover the cost of home renovations, even more so if you’re faced with having bad credit. In those situations, you can reach out to Alpine Credits for a home renovation loan through your home equity.
How to refinance a mortgage with a low credit score
For some homeowners, getting a mortgage refinance can require a lot of contemplation. Before stepping into the decision, it’s important that those considering understand what remortgaging is, including the different types and ways to refinance a mortgage. In the long run, it has a number of benefits for you.
The relationship between credit score and interest rate
Interest rates are not always constant between types of loans, but what determines them generally is. Usually, lenders calculate interest rates based on creditworthiness, therefore a person’s credit score holds abundant value when applying for mortgages and personal loans. Getting an ideal interest rate is possible with the right lender and financial habits.
Home equity line of credit: New rules in Canada
New mortgage rules have been put into place that make it more difficult for Canadians to access their home equity through traditional avenues. These rules also come with higher interest rates, and together, qualifying for home equity line of credit options is harder than ever before.
Construction mortgages in Ontario
Many Ontarians on the lookout for the perfect home to settle down in are facing challenges. Whether it’s the property size, the structure, or the location, finding a home that meets all their criteria is much harder than it seems. Many Canadians decide to build their dream home from scratch instead of finding a pre-built home in these cases. However, you might be surprised to learn that aspiring home-builders can also qualify for construction mortgages in Ontario.
How to avoid a mortgage penalty in Canada
Breaking your mortgage comes with expensive penalty fees. For any number of reasons, homeowners within a mortgage term might find a need to break their mortgage. Others might have extra income to prepay their mortgage term. However, you may be shocked to learn about the steep penalty fees associated with prepaying or breaking a mortgage.
Can you get a mortgage for land?
Most people know about a property mortgage, which is a loan you can use to pay for your home. But, what happens if you want to build your home from scratch? For all those homeowners who would like to plan their dream house, owning a patch of land might be a better option. In this regard, the key question is can you get a mortgage for land?
How to buy out your partner in a mortgage in Canada
Ending a marriage is never an easy process. One of the potential complications that can come with ending a marriage is how to split a jointly owned property. When a married couple buys a home, both people have equal rights to the property. When that marriage ends, that leaves complications for a divorce mortgage buyout.
12 tips for buying an investment property in Canada
Buying an investment property can be incredibly rewarding. It can also be a huge headache if you don’t go about it the right way. Keep reading for some tips on how to buy a rental property the right way.
Using your RRSP for a down payment on an investment property
While using your RRSP to buy an investment property might seem like a great idea, there are many things to consider before cashing out. Keep reading to learn more about why this may not be such a smart move and how Alpine Credits can help you secure better financing.
How much do heated floors cost in Canada?
Heated flooring makes for a luxurious addition to any Canadian home, offering a warmth that radiates much more evenly than forced air from an HVAC system. Keep reading to learn about heated floor costs and how Alpine Credits can help you cover them.
RRSP withdrawal rules after retirement
RRSP withdrawal rules after retirement can be tricky to navigate, especially since they’re constantly changing. In this post, we’ll give you an overview of RRSP rules after retirement, show you how to find quality advice, and discuss alternative sources of cash in case you’d like to let your nest egg grow for a while longer.