Tag Archives: Vancouver Mortgage Brokers

Mortgage qualification rules were tightened considerably after 2016 to cool down the overheated markets. High-interest short term mortgages might be the only choice for borrowers with less than ideal credit, high debt and minimal savings. Accelerated biweekly or weekly mortgage payments shorten amortization periods faster than monthly. Severe mortgage delinquency …

More frequent payment schedules like weekly or bi-weekly can shorten amortization periods minimizing total interest paid. Second Mortgage Interest Rates run more than first mortgages reflecting increased risk arrangements subordinate priority status. Mortgage default insurance protects lenders from losses while allowing high ratio mortgages with under 20% down. First-time home …