Private Lenders may be able to fill the gap

Private lenders are people with money who are looking for a better rate of return than is available to them at a bank. They are willing to fund mortgages for individuals who, for one reason or another, may not qualify at the Bank. Sometimes called Venture Capatalist, this option can be a great for those…


Banks hike mortgages by up to 25 basis points

TD Canada Trust and RBC are raising some of their fixed-term mortgage rates by as much as one-quarter of a percentage point, beginning Wednesday. Both bank’s five-year mortgages, one of the most commonly chosen by homeowners in Canada, will rise 0.25 of a percentage point to 5.44%. “Mortgage rates typically go up when bond yields…


CommunityLend Expands into British Columbia

The New Peer-to-Peer Lending service CommunityLend has announced today that it is entering the BC market. The new Peer-to-Peer Lending service helps borrowers to get better rates by cutting out the “middleman” in Canada’s multi-billion dollar personal lending market. I have pasted the press release below. Enjoy! Toronto, ON – September 1, 2010: Canadian Internet…


List of Canadian Mortgage Brokers

I was looking over the logs from the web site today and it looks like a lot of my visitors don’t know about the great list of Canadian Mortgage brokers. This is a great place to find a broker who will work with you to find you a loan or mortgage. When the banks are…


Mortgage loophole helps first-timers

There is a small loophole in the new federal mortgage rules that could make it easier for the banks to lend money to first-time buyers. The federal government announced last month new requirements for anyone borrowing money for a house and needing mortgage insurance. If you have less than a 20% down payment and are…


Car Title Loans vs. Anticipated Tax Refund Loans

What is an Anticipated Tax Refund Loan? Annually many Americans find themselves needing their income tax refund now causing them to obtain an anticipated tax refund loan as a quick and simple method to get their tax refund quicker.  Anticipated tax refund loans are essentially a short term payday loan made against their anticipated income tax refund. The consumer typically applies…


What are Secured, Unsecured & Demand Loans?

A secured loan is a loan in which the borrower puts up some form of asset as collateral for the loan such as a house, a car, property or something that has value to the lender that can be turned over into cash in the event the loan is defaulted. Mortgage loans are the most…