Author: langfinancial

Fixed or Variable in These Unusual Times?

Fixed or variable—it’s the classic rate decision many mortgage shoppers are faced with. And it’s only been made more complicated since the start of the pandemic. Towards the latter half of 2019, variable (AKA “floating”) rates were flying off the shelves. At that time, for many qualified borrowers they were going for as low as […]

Refinancing Your Mortgage – What You Need to Know

This year has seen a rise in the number of homeowners who are considering refinancing their mortgage. Approximately 20% of Canadian homeowners say they plan to refinance their mortgage in the next 12 months, according to a recent poll. What exactly is a mortgage refinance? Simply put, it’s the act of paying out your current […]

The Urban Exodus…A Long-Term Trend or a Fad?

It’s now well-known that homebuyers are leaving urban markets for the suburbs in droves in search of larger and more affordable properties. While homebuyers have been trading in big-city life for more affordable living in outlying regions for years as prices have risen, the pace picked up substantially with the onset of the pandemic and […]

HOW SUDDEN LOSS OF EMPLOYMENT CAN AFFECT YOUR MORTGAGE APPROVAL

If you’ve been thinking about buying a house, you’ve probably considered how much you can afford in mortgage payments. Have you also thought about what would happen if you lost your source of income? While the sudden loss of employment is always a possibility, the current uncertainty of our economy has made more people think […]

Getting your down payment ready

Buying a house? If you don’t buy property regularly—and most people don’t—you may need a refresher on the rules for mortgages and down payment sources. Not only will you need to prove that you can afford the mortgage, you’ll need to show your lender where you’re getting the money for your down payment. DOWN PAYMENTS […]

UNLOCKING EQUITY THROUGH REFINANCING

With all the financial upheaval in recent months, many clients are looking to refinance their mortgage. If you have taken on more debt than usual due to less work or unforeseen expenses then refinancing equity out of you house at a much lower interest rate is a great long term solution. RENEWING VS. REFINANCING A […]

PURCHASING AN INVESTMENT OR VACATION PROPERTY: WHAT YOU NEED TO KNOW

Did you know that the process to purchase a second property depends on whether you’re buying a vacation home or an investment property?  While many of the steps are the same, there are some important differences that are specific to the type of property you’re purchasing. SECOND HOME VS. INVESTMENT PROPERTY A second home (or […]

BEYOND YOUR DOWN PAYMENT: PREPARING FOR CLOSING COSTS

Saving to buy a home is so much more than putting together a down payment. Down payments receive all the attention as you save to buy a property. If you take some time to plan for other expenses related to closing on your property, you won’t be surprised by the actual amount you should have […]