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Unlocking Financial Flexibility with Assumable Mortgages and Mortgage Porting in Canada

Porting and Assuming Mortgage: Simplified Mortgage Transfer and Assumption Process

Overview of Assumable Mortgages Understanding Assumable Mortgages Assumable mortgages represent a unique and effective approach to transferring property ownership in Canada. An assumable mortgage allows a buyer to “assume” the seller’s existing mortgage under its current terms rather than applying for a new one. When assumable mortgages Canada are under consideration, it’s crucial to understand […]

Unlocking Homeownership: The Essential Guide to Mortgage Insurance

Mortgage insurance

Understanding Mortgage Insurance What is Mortgage Insurance? As a mortgage broker, I’m often asked, “what is mortgage insurance?” and “why is it essential?”. Mortgage insurance is a type of insurance policy designed to protect the lender if you, as the borrower, default on your loan payments. In essence, insurance for mortgage loans is a security […]