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Mortgage Insurance Requirements

In Canada, mortgage insurance is also referred to as mortgage default insurance. This is required for all buyers who have paid between 5% and 19.99% toward their home’s down payment. You will not be able to obtain a mortgage if you pay less than 5% of your home’s purchase price.

This extra insurance is to protect the lender in case the borrower defaults on their …

  • Posted: July 10, 2018
  • Tags: Mortgages
  • Comments: 0

Tips for Getting Your Credit Ready for a Mortgage

When applying for an Oakville mortgage, your interest rates are largely determined by how good of a credit score you have. The higher your score is, the better rates you will receive on your mortgage. Here at Loewen Group Mortgages, our team has come up with 4 useful tips that can help you get your credit ready when applying for a mortgage.

Tip #1: Review Credit Report

Before you start the application …

  • Posted: June 7, 2018
  • Tags: Mortgages
  • Comments: 0

First-Time Homebuyer Checklist

Our team at Loewen Group Mortgages wants to congratulate you on making the decision to become a homeowner. We understand this is a huge commitment, and will quite possibly be the biggest expense you ever have. We want to make sure you have all the resources to assist you in choosing your Oakville Mortgage. Therefore, we have created a checklist to help all first-time homebuyers get started on the mortgage …

Benefits of refinancing your mortgage - Milton mortgage

Benefits of Refinancing your Mortgage

Homebuyers understand the financial commitment associated with purchasing a home. Paying off your mortgage every month might be the largest expense you have. It could be worth your while to look into refinancing your mortgage to see if the current rates have changed. As your Oakville mortgage broker, we have created a list of the top 5 benefits of refinancing your mortgage.

Lower Payments:

The market is always fluctuating, which means …

  • Posted: April 9, 2018
  • Tags: Mortgages
  • Comments: 0
Canada new mortgage rules

New Mortgage Rules

Are you in the market for a new home? Well as your Oakville mortgage broker, it is our duty to inform you on the new Canadian Mortgage Rules before you start the home loan process.
As of January 2018, new rules were enacted across all of Canada in regard to getting a loan. The biggest change is the Stress Test.

What is the Stress Test?

The new stress test is done to see …

  • Posted: March 6, 2018
  • Tags: Mortgages
  • Comments: 0
Why use a Mortgage Broker

Why You Should Use a Mortgage Broker – Oakville Mortgage Tips

At the Loewen Group we are proud to provide exceptional service to the people of Oakville. As your brokerage, we know that our mission is to represent you. The options for an Oakville mortgage can seem confusing and overwhelming, and a mortgage broker can help guide you through the process.

Here are the four main reasons why you should use a broker for your mortgage needs!
1. Get the Lowest Rates …

  • Posted: February 8, 2018
  • Tags: Mortgages
  • Comments: 0
Oakville Market Update - Loewen Group

Oakville Market Update – December 2017

As we enter the last calendar month in 2017 we also enter the final month of the real estate year. As brokers when it comes to your mortgage in Oakville, our team is prepared to help ensure you get the best product for your personal needs.

If there is one thing we learned about the Oakville housing market this past year it’s that being able to afford a home might …

  • Posted: January 5, 2018
  • Tags: Mortgages
  • Comments: 0
Is an Oakville Mortgage Refinance right for you

Is an Oakville Mortgage Refinance a Good Fit for you?

You may have heard your neighbours talk about it, or maybe you’ve been keeping an eye on the market yourself.

Thanks to mortgage interest rates that have been as low as ever, homeowners across the country are opting to refinance their mortgage to save big money on their monthly payments.

People refinance their mortgage by using a new loan associated with a lower mortgage rate to take over their current mortgage that …

  • Posted: September 12, 2017
  • Tags: Mortgages
  • Comments: 0
Oakville Housing Market Update

Oakville Housing Market Update – June 2017

In the latest local market update, we begin to see the start of a slow-down in the Oakville housing market. 

Are home sales finally beginning to cool off?

Per the most recent statistics from the Oakville, Milton and District Real Estate Board, home sales in May were down 19% year-over-year while the number of new listings jumped more than 40%.

Local inventory continues to rise, but the slow-down in sales could be an …

  • Posted: July 10, 2017
  • Tags: Mortgages
  • Comments: 0
Oakville Mortgage Rates - Homeowners

Could homeowners survive if mortgage payments increased?

Homeowners are barely getting by as it is. If Oakville mortgage rates were to increase even slightly, what kind of effect would it have?

When it comes to affording payments on their home, even the slightest increase could be a deal breaker for many homeowners. That’s why it didn’t come as much of a surprise when a recent study by Manulife Bank revealed that almost ¾ of Canadian homeowners would have …

  • Posted: June 15, 2017
  • Tags: Mortgages
  • Comments: 0

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