Financing unique properties, RRSP to fund your own mortgage, extra payments go a long way, Toronto housing affordability...in one of our receent posts, Oddball Private Mortgage Financing, we explained the challenges of financing unique properties. As private mortgage lenders with exclusive access to a mortgage investment corporation (MIC) the post told the story of how we financed a property that once served as a townhall, firehall, and jail in the small community of Coldwater, Ontario. A unique property requiring private mortgage financing. Helen Morris further explores why Unique Abodes Often Require Special Mortgage Financing. If you're in a similar situation where private mortgage financing is required give us a call.
Disappointed with the return you're earning in you RRSP? There is another way to invest your money at a fixed rate of return. Consider investing in your mortgage. Your own mortgage is actually RRSP eligible making it a very intriguing investment that sparks the imagination of a lot of would be investors. Rob Carrick, personal finance writer at The Globe & Mail, presents a comprehensive overview of this rare but interesting strategy in Making A Return On Your Mortgage.
Mortgages are strange, dynamic creatures. There's something about time and compounding interest that make it difficult for us to fully grasp and it's amazing what small adjustments to payment frequency or extra payments can translate into. As mortgage brokers we're constantly consulting with clients to see how reallocation of cash flow can benefit the client. The goal is to help clients out of debt sooner and pay the least amount of interest to the bank. Here’s an interesting spin on How $10 a Week Can Translate Into A New Car.
If you have any questions, comments, or would like to explore the possibility of using our mortgage services to help arrange your mortgage get in touch with us via e-mail or by phone 416.461.0204. Remember, we get compensated by the lender through a finders fee so you don’t pay for our service.