The world of mortgages can be complex, but that's where a knowledgeable mortgage refinance broker comes into play. Audra, understands the intricacies of mortgage refinancing and how it can transform your financial landscape. In this blog, I will delve into the vital role a mortgage refinance broker plays and how our expertise can be your ticket to greater financial freedom.
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The Role of a Mortgage Refinance Broker: How We Can Help You
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Securing a Mortgage with Bad Credit: What You Need to Know
In the journey toward homeownership, one of the biggest hurdles can be a less-than-ideal credit score. Audra, understands that life can throw curveballs that affect your credit. The good news is that securing a mortgage with bad credit is not an impossible task. In this blog, I am here to guide you through the process and show you how we can help you achieve your dream of owning a home.
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Interest Rate Differential Calculations and How Using a Lender with Posted Rates Will Inflate Your Early Payout Penalty by Thousands of Dollars
Are you in the market for a mortgage? If so, you may be considering working with a lender that advertises their posted rates. While these rates may look attractive, it's important to understand how they can impact the interest rate differential (IRD) calculation. In Canada, lenders are required to publicly post their rates for mortgage products. However, these posted rates can often be higher than the actual rates offered to borrowers. It's important to understand the difference between the posted rate and the actual rate, as this can have a significant impact on your mortgage payments and early payout penalties.
The IRD is the difference between the interest rate on your existing mortgage and the rate that the lender could charge today for a mortgage with a similar term to your remaining term. This calculation takes into account the remaining balance on your mortgage, the time left in your term, and the difference between your original interest rate and the lender's current rate. The resulting IRD amount represents the compensation the lender requires for the lost revenue it will experience if you break your mortgage early.
As a licensed mortgage associate at Audra Kish serving the Saskatoon area, I often encounter clients who are surprised by the hefty early payout penalties they face when breaking their mortgage before the end of their term. One factor that can significantly impact the size of these penalties is the interest rate differential (IRD) calculation method used by your lender. In this blog, I'll explain what IRD is, how it's calculated, and why using a lender with posted rates can lead to inflated early payout penalties.
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The Benefits of Using a Mortgage Broker/Licensed Mortgage Associate as Opposed to a Bank
Obtaining a mortgage can be a complicated and overwhelming process, especially for first-time homebuyers. When it comes to securing a mortgage, there are two options: using a mortgage broker or going directly to a bank. While both options have their advantages and disadvantages, there are several benefits to using a mortgage broker or licensed mortgage associate that homebuyers should consider.
As a licensed mortgage associate serving Saskatoon, Canada, I often get asked the question, "Why should I use a mortgage broker instead of a bank?" This is a great question and one that I'm happy to answer.In this blog post, I'll be sharing the top five benefits of using a mortgage broker instead of a bank, and why it can be a great choice for anyone looking to get a mortgage.
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Mortgages Lead Credit Growth as Delinquency Rates Decline
Original Article Source Credits: Canadian Mortgage Trends, https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: 9th March 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/03/mortgages-lead-credit-growth-as-delinquency-rates-decline/
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Odds of a Bank of Canada Micro Rate Cut Diminish Following Rate Decision
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: January 21, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/01/odds-of-a-bank-of-canada-micro-rate-cut-diminish-following-rate-decision/
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How likely is a Canadian real estate crash in 2021?
Original Article Source Credits: MortgageBrokerNews.ca , https://www.mortgagebrokernews.ca/
Article Written By: Clayton Jarvis
Original Article Posted on: 26 Jan 2021
Link to Original Article: https://www.mortgagebrokernews.ca/news/how-likely-is-a-canadian-real-estate-crash-in-2021-337229.aspx
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Canadian Housing Forecasts Call For A Boom ... Or Worst Crash In 40 Years
Original Article Source Credits: HuffingtonPost , https://www.huffingtonpost.ca/
Article Written By: Daniel Tencer
Original Article Posted on: 01/02/2021
Link to Original Article: https://www.huffingtonpost.ca/entry/housing-forecast-canada-2021_ca_5fec942cc5b64e4421082979
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Audra Kish Officially Awarded as Saskatoon's Best Mortgage Broker
Original Article Source Credits: Yahoo! finance, https://ca.finance.yahoo.com
Article Written By: N/A
Original Article Posted on: Dec 21, 2020
Link to Original Article: https://ca.finance.yahoo.com/news/audra-kish-officially-awarded-saskatoons-140000267.html
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Real Estate Sales Soar In Every City, As Bank of Canada Juices The Market
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: NA
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/real-estate-sales-soar-in-every-city-as-bank-of-canada-juices-the-market/
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Why Spiking Inflation Won’t Impact Canadian Mortgage Rates
Original Article Source Credits: Move Smartly , https://www.movesmartly.com/
Article Written By: David Larock
Original Article Posted on: NA
Link to Original Article: https://www.movesmartly.com/articles/why-spiking-inflation-wont-impact-canadian-mortgage-rates
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Bank of Canada keeps rate steady at 0.25%, maintains pledge of it staying low until 2023
Original Article Source Credits: CBC News , https://www.cbc.ca/
Article Written By: NA
Original Article Posted on: Dec 09, 2020
Link to Original Article: https://www.cbc.ca/news/business/bank-of-canada-benchmark-interest-rate-1.5834049
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Refinancing Your Mortgage Can Save You Money If You Do It Right
Original Article Source Credits: The Huffington Post , https://www.huffingtonpost.ca/
Article Written By: NA
Original Article Posted on: 09/08/2020
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BMO Housing Survey: COVID is Re-Shaping First-Time Homebuyer Needs but Many Still Believe it is a Good Time to Buy
Original Article Source Credits: NewsWire , https://www.newswire.ca/
Article Written By: NA
Original Article Posted on: Sep 24, 2020
Link to Original Article: https://www.newswire.ca/news-releases/bmo-housing-survey-covid-is-re-shaping-first-time-homebuyer-needs-but-many-still-believe-it-is-a-good-time-to-buy-817622572.html
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Canadian housing market optimism climbs amid second wave
Original Article Source Credits: BNN Bloomberg , https://www.bnnbloomberg.ca/
Article Written By: Shelly Hagan, Bloomberg News
Original Article Posted on: Sep 28, 2020
Link to Original Article: https://www.bnnbloomberg.ca/canadian-housing-market-optimism-climbs-amid-second-wave-1.1500418
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Most of Canada's Condo Markets Are Down From Peak Prices
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: NA
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/most-of-canadas-condo-markets-are-down-from-peak-prices/
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Average Canadian house price rose 14% in year up to July, CREA says
Original Article Source Credits: CBC News , https://www.cbc.ca/
Article Written By: Pete Evans
Original Article Posted on: Aug 17, 2020
Link to Original Article: https://www.cbc.ca/news/business/house-prices-numbers-july-1.5689129
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Home Prices Set New Record High, Sales Surpass Pre-COVID Levels - Mortgage Rates & Mortgage Broker News in Canada
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: August 17, 2020
Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/home-prices-set-new-record-high-sales-surpass-pre-covid-levels/
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Frequently Asked Questions About Mortgages
Every year, several first-time homebuyers opt for mortgages to buy a home. However, as they are new to this financial option, there are a ton of questions on their minds, and the answers are often difficult to come by. To arm you with the most accurate information about mortgages and the processes involved in obtaining an ideal one, mortgage specialist Audra Kish has answered in detail some of the most frequently asked questions about mortgages.
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Why You Should Choose Mortgage Associate Audra Kish!
If you’re looking to buy a house but don’t have the funds to make a purchase, you have two options. Either you can approach a lender on your own, or you could hire a mortgage broker. The first option requires a lot of time and effort. On the other hand, the latter option offers quick results along with other benefits.
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