When the credit crunch hit one of the things the Canadian governement did to mitigate the damage to the economy is set a policy that no longer allowed CMHC, Genworth or AIG to insure mortgages for people trying to purchase a home with no money down.  Currently, the rules state that when buying a home, if the purchaser has less than 20% (of the purchase price) to put as a down payment, the bank/lender that is providing the mortgage must get mortgage default insurance.  Just a short time ago, the insurers (CMHC, Genworth and AIG) had programs that allowed purchasers with very good credit to purchase a home with no money down that still gave the borrower access to fully discounted rates.  This announcement made by the Canadian government in October of 2007 put a stop to fully discounted zero down mortgages.  Despite these changes made by the government of Canada, it is still possible to buy a home with no money down.

In today's economy it is not uncommon to find banks and lenders advertising that they have the best mortgage rates.  Even though it isn't possible for all banks to have the best mortgage rate, it just doesn't seem fair that new borrowers are getting such good rates when there are those of us that signed a year or two ago at a higher mortgage rate than is available now.  As a result these consumers often feel like kicking themselves or feeling sorry for themselves but, there are options available to consumers that can not only help them save money on their mortgage, but also add more cash to their pockets at the end of every month.   By using a mortgage broker at RMA, you can not only discuss the steps you need to take to get a lower mortgage rate, you can also rest assured that our mortgage brokers and agents are fully qualified to get you the best mortgage possible.

One of the easiest ways to make your old home seem new again is with a major, or sometimes minor, home renovation.  While the benefits of a home renovation may be substantial, the cost involved in the process is often extremely high and is often put on high interest department store cards.  With the economy still struggling to recover from difficult times, obtaining an unsecured loan to renovate your home may not be easy to do especially with all the additional consumer debt that has been accumulated in recent years.  One of the easiest way to obtain a loan to renovate your home is

In today's tight economy, one of the most stressful problems consumers face is how to handle the various debts they have acquired.  Over the past few years many consumer racked up debt due to outside factors such as minimal to no salary increases or, even worse, unemployment.  However, what most people do not realize is that they have an easy way to consolidate debt by refinancing.  Mortgage brokerages like Real Mortgage Associates provide agents and brokers that can help by negotiating with banks and lenders on your behalf, getting you a low interest rate.

When someone is purchasing a home, there are a couple of choices they have with regards to the down payment they put towards the purchase.  The down payment is basically the amount of equity (or money) that the buyer is willing to put towards the purchase of a home.

When you purchase a home the Bank of Canada states that banks, trust companies and other lenders are not allowed to lend on a property if

Though many people have been trained throughout time to trust their banks and their bankers, you should know that there are many things banks just don't want you to know.  It's in their best interests to keep you in the dark, because that will ultimately allow them to make more money off of your transactions.  What are these secrets?  Here are the top ten:

In Ontario, and throughout Canada, working with a mortgage brokerage rather than dealing with a bank has many advantages.  One of Canada's largest and fastest growing mortgage brokerages is RMA.  We have grown our brokerage by providing a wider and more attractive range of mortgage products, superior convenience, and expert advice.  As a mortgage broker in Canada, we can help you secure the best home loan available. Most importantly, because your broker serves as your advocate, your interests will be protected.

The cost of everything seems to be going up these days with no relief in sight. People have utility bills, house payments, the cost of transportation, food and various other expenditures every month, and many have additional loan payments. They may have charged things on credit cards when their economic situations were better, and are finding it difficult to make even the minimum monthly payments now.  Read below and find out how you can save literally thousands of dollars by implementing a few simple strategies.

Are you planning to do some major home renovations? You can increase the sales price of your home by thousands of dollars by making some significant changes to the design and construction. On the other hand, making repairs may be more cost efficient and practical instead of moving to a new home. As you begin sorting out the details, you may end up paying a lot more for renovation financing and renovation loans. Here are 4 costly renovation financing mistakes no one can afford to make.

Whether a first time home buyer or not, there are three primary pitfalls you should avoid when buying a home.  Moving forward with these points in mind will save substantial time, money and effort.

Buying a home is one of the most involved and important decisions a person could ever make in their life. So it is not so unreasonable to believe that it can be quite an emotional roller-coaster for everyone involved. However, letting your emotion and the stress of limited time greatly influence your final decision in purchasing a home can be dangerous. After all, you could spend years, perhaps the rest of your life there, so it can't be a move made in haste. That does not mean that your emotions should be totally ignored, but that they should be controlled. Keep them in check, stay smart, focusing on what is really important when cruising the home market.

When it comes to purchasing a home, there are many ways to get the job done. For a first time home buyer, using a mortgage broker is an excellent idea for a host of different reasons. Purchasing a home is a difficult process, but it doesn't have to be completely overwhelming. There are people out there who can help you make the process as seamless and as painless as possible, so you'd be smart to use those resources when making your purchase. A mortgage broken can be one of those individuals, so as a first time home buyer, you should be looking for the best possible one. Here are reasons to use a mortgage broker when purchasing a home.

When it comes to purchasing a home, there are many ways to get the job done. For a first time home buyer, using a mortgage broker is an excellent idea for a host of different reasons. Purchasing a home is a difficult process, but it doesn't have to be completely overwhelming. There are people out there who can help you make the process as seamless and as painless as possible, so you'd be smart to use those resources when making your purchase. A mortgage broken can be one of those individuals, so as a first time home buyer, you should be looking for the best possible one. Here are reasons to use a mortgage broker when purchasing a home.