Many people aren't familiar with this type of mortgage. The basic definition of a private mortgage is a mortgage contract in which the lender is not a registered financial institution but may be a friend, family member or an individual investor. Why wouldn't a financial institution want to lend? Strict guidelines. A bank in Toronto for example, follows strict guildlines for lending that limit ...

Toronto mortgage interest rates have taken a definite turn. At the beginning of the year, economists were predicting a rate increase. Now, it appears as if interest rates are set to stay low for a while longer...More

When arranging a Toronto mortgage on your home you are entering into a contract with the lender. So what does term mean in my mortgage contract? Term refers to the length of time that the mortgage contract is effective for...More

In a complete shift in the attitude and expectations of last week, Merix Financial, one of our lender partners, announced several competitive rate cuts. Exciting news! I'm happy to offer you a fixed 5 year at 3.75% for closings before February 23rd, 2010, or a 3 year variable rate Prime minus 0.30% for an effective rate of 1.95%. The latter must close within 30 days...More