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Blog by Boychuk Mortgage Group

Blog by Boychuk Mortgage Group

  • The Role of a Mortgage Broker in Securing a Self-Employed Mortgage

    Author: Boychuk Mortgage Group | May 29, 2023 | Categories: CHIP Reverse Mortgage , Commercial Mortgage BC , Construction Loans , Debt Consolidation , First Time Home Buyer Mortgage , Home Equity Loans , Home Purchase Mortgage , Investment Property Mortgage , Mortgage , Mortgage Broker , Mortgage Loans , Mortgage Pre-Approval , Mortgage Rates , Mortgage Refinance , Mortgage Renewals , Mortgage Transfers , Private Lending , Private Mortgages , Renovation Mortgage , Residential Mortgage , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    Securing a mortgage as a self-employed individual can be challenging, but with the help of a mortgage broker, the process can become smoother and more manageable. A mortgage broker can provide valuable advice, guidance, and resources to help you navigate the complexities of obtaining a self-employed mortgage. At Boychuk Mortgage Group, we understand the unique challenges that self-employed individuals face when trying to secure a mortgage. That's why we're dedicated to helping our clients find the best mortgage options that suit their specific needs and financial situation.

    Here are 5 engaging points about the role of a mortgage broker in securing a self-employed mortgage:

    Click Here To Read The Full Article


  • The Pros and Cons of Using a Separation Mortgage to Buy Out Your Ex-Partner

    Author: Boychuk Mortgage Group | May 04, 2023 | Categories: CHIP Reverse Mortgage , Commercial Mortgage BC , Construction Loans , Debt Consolidation , First Time Home Buyer Mortgage , Home Equity Loans , Home Purchase Mortgage , Investment Property Mortgage , Mortgage , Mortgage Broker , Mortgage Loans , Mortgage Pre-Approval , Mortgage Rates , Mortgage Refinance , Mortgage Renewals , Mortgage Transfers , Private Lending , Private Mortgages , Renovation Mortgage , Residential Mortgage , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    Going through a separation or divorce can be an emotionally and financially challenging time. One of the biggest concerns for couples who own property together is what happens to their home. If you find yourself in this situation, you may be considering a separation mortgage to buy out your ex-partner. Essentially, a separation mortgage allows one partner to buy out the other partner's share of the home's equity, so that one person can keep the home and the other can receive their fair share of the value. It can be a smart and practical way to navigate the challenges of a breakup and move forward with your life in a positive way. While there are certainly benefits to this option, there are also some drawbacks to consider. 

    In this blog, Boychuk Mortgage Group will explore the pros and cons of using a separation mortgage to buy out your ex-partner and provide you with some helpful tips and insights.

    Click Here To Read The Full Article


  • Why It’s Essential To Revisit Your Mortgage Broker At Renewal Time

    Author: Boychuk Mortgage Group | Feb 22, 2023 | Categories: Mortgage , Mortgage Broker , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    When renewing your mortgage, it can be tempting to stick with your current lender without considering other options. However, this could prove costly, as your mortgage broker has access to many mortgage options and can help you find the best deal for your needs.

    Click Here To Read The Full Article


  • Should You Choose A Thirty-Year Mortgage Amortization Period?

    Author: Boychuk Mortgage Group | Feb 20, 2023 | Categories: Mortgage Broker , Mortgage Renewals , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    Are you looking to purchase a home and are unsure of whether a Thirty-year mortgage amortization period is suitable for your needs? One thing is for sure, and it’s an important decision that should not get taken lightly.

    Click Here To Read The Full Article


  • How To Pay Off Your Mortgage Faster

    Author: Boychuk Mortgage Group | Feb 07, 2023 | Categories: Mortgage , Mortgage Broker , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    As you approach retirement, the last thing you want is to be saddled with debt. One of the best ways to get ahead financially is to pay off your mortgage as soon as possible. But how can you do this without incurring a penalty? Fortunately, several strategies can help you pay your mortgage quicker and avoid costly penalties. Let’s look at these strategies and how they can help you become debt-free faster.

    Click Here To Read The Full Article


  • Season’s Greetings from Boychuk Mortgage Group

    Author: Boychuk Mortgage Group | Dec 21, 2022 | Categories: Mortgage Broker , Mortgage Refinance , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    We would like to take this opportunity to wish you and your family a wonderful Holiday Season and a happy, healthy, and peaceful New Year 2023!

    Click Here To Read The Full Article


  • Your Mortgage Refinancing Guide

    Author: Boychuk Mortgage Group | Dec 05, 2022 | Categories: Mortgage Broker , Mortgage Refinance , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    Refinancing is when a homeowner gets a new mortgage to replace their current mortgage. The new mortgage should help them save money or meet another financial goal. For example, most people refinance to lower their interest rates and reduce their mortgage payments, often saving thousands in mortgage interest. But you can also refinance into a new loan type, shorten your mortgage term to pay off the home early, or cash out home equity. Trusted mortgage broker Riley Boychuk wants to help you understand how refinancing your mortgage can help you out of a tough situation. 

    Click Here To Read The Full Article


  • Rental Property Mortgages

    Author: Boychuk Mortgage Group | Nov 03, 2022 | Categories: Mortgage , Mortgage Broker , Mortgage Rates

    Blog by Boychuk Mortgage Group

    Understanding mortgages in Canada can be overwhelming. A rental property mortgage has unique features that make them different from conventional mortgages. Finding a lender who is willing and able to offer you a mortgage for a rental property is another task that requires patience and diligence. If purchasing rental properties is on your wish list, take a moment to review some valuable information written by Boychuk Mortgage Group  below.

    Click Here To Read The Full Article


  • Porting Your Mortgage Explained

    Author: Boychuk Mortgage Group | Aug 22, 2022 | Categories: Mortgage Broker , Private Mortgages , Residential Mortgage

    Blog by Boychuk Mortgage Group

    If you currently own a house and are looking to move, you might wonder what happens to your mortgage when you sell it. Depending on the terms of your current home, you may be able to port it to your new home. This is sometimes referred to as transferring your mortgage, and it can be quite handy. Trusted mortgage broker Boychuk Mortgage Group wants to help you understand how porting your mortgage can be beneficial to you.

    Click Here To Read The Full Article


  • Mortgages Options For Newcomers Coming To Canada

    Author: Boychuk Mortgage Group | Jul 19, 2022 | Categories: Mortgage , Mortgage Broker , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    Immigrating to Canada is a big step, and starting a new life in Canada can be challenging. That’s why many banks and lenders offer mortgage options for new immigrants to help them get settled into their own homes. Trusted mortgage broker Boychuk Mortgage Group wants to help newcomers become aware of the various mortgage options for newcomers coming to Canada. 

    Click Here To Read The Full Article


  • Your Guide To A Reverse Mortgage

    Author: Boychuk Mortgage Group | May 12, 2022 | Categories: Mortgage , Mortgage Broker , Reverse Mortgage

    Blog by Boychuk Mortgage Group

    A reverse mortgage is a type of mortgage that lets people borrow against a part of their home’s equity. Unlike with a traditional mortgage, the lender will make payments to you in exchange for equity in your home. For many people, a reverse mortgage is a good way to increase financial well-being in retirement, positively affecting their quality of life. As experts in the field, we at Boychuk Mortgage Group have written down information that will help you understand how you can benefit from a reverse mortgage.

    Click Here To Read The Full Article


  • Commercial Mortgages By Boychuk Mortgage Group

    Author: Boychuk Mortgage Group | May 04, 2022 | Categories: Mortgage Broker , Mortgage Rates , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    A commercial mortgage is a type of investment property mortgage taken out on commercial real estate as opposed to residential, with the property as collateral. The borrower is usually a company or business as opposed to an individual. The rates are highly dependent on the specific mortgage, property, and borrower conditions. Additionally, assessing credit history is more complicated with this type of mortgage.

    Click Here To Read The Full Article


  • Home Purchase And Improvement Mortgages

    Author: Boychuk Mortgage Group | Apr 14, 2022 | Categories: Mortgage Broker , Mortgage Rates , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    You’ve found the perfect house at a great price, and you might have big home improvement plans for it, but you also need to have a plan on how to pay for it all. Like most people, you probably don’t have money lying around to pay for it yourself. Well, don’t worry! Trusted mortgage broker Boychuk Mortgage Group wants you to know that there is a solution in the form of a home purchase and improvement mortgage. 

    Click Here To Read The Full Article


  • Home Equity Lines Of Credit And Readvanceable Mortgages Explained

    Author: Boychuk Mortgage Group | Feb 11, 2022 | Categories: Mortgage Broker , Mortgage Rates , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    When it comes to accessing the equity in your home, you have different options to acquire it. Two common ways to do this are through home equity lines of credit (HELOC) or readvanceable mortgages. Both options allow you to easily tap into your home equity and offer HELOC services. For a better understanding of this, mortgage broker Boychuk Mortgage Group  have explained these two lending products in this blog.

    Click Here To Read The Full Article


  • Fixed Rate Mortgage Vs. Variable Rate Mortgage

    Author: Boychuk Mortgage Group | Jan 18, 2022 | Categories: First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    Choosing between a fixed rate mortgage and a variable rate mortgage is one of the biggest decisions a borrower will have to make when applying for a mortgage. After all, the choice they make could affect their finances for several years. Fixed and variable rates exist so that borrowers have the freedom to determine what works best for them. However, each option comes with its own set of advantages and disadvantages, and trusted mortgage broker Boychuk Mortgage Group would like to shed some light on both to help borrowers make suitable decisions.

    Click Here To Read The Full Article


  • The Mortgage Process And How To Get Approved

    Author: Boychuk Mortgage Group | Oct 18, 2021 | Categories: First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    As mortgages involve significant sums of money, applying for funding usually entails a complicated process. The process is designed to ensure the legitimacy of the transaction and confirm that the lending party is dealing with a credible borrower. To break down the mortgage process and help home buyers get approved for the finances they desire, mortgage broker Boychuk Mortgage Group have broadly explained the five parts involved in the mortgage process.

    Click Here To Read The Full Article


  • Construction loan financing

    Author: Boychuk Mortgage Group | Oct 08, 2021 | Categories: Commercial Mortgage BC , Construction Loans , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    For individuals looking to enjoy the comforts of a customized home, building a brand new one is the most suitable option. However, constructing a house is just as costly as buying an existing one. As a result, seeking financial options is a must. One of the most popular financial solutions for building a new house is a home construction loan. This financial option allows individuals to borrow money to pay for materials and labor throughout the course of their construction project. With sufficient financial backing, they don’t have to compromise on quality, design, or even plot selection.

    Click Here To Read The Full Article


  • “B” lender and private mortgages explained

    Author: Boychuk Mortgage Group | Sep 23, 2021 | Categories: Mortgage Broker , Private Lending , Private Mortgages

    Blog by Boychuk Mortgage Group

    Our last blog covered mortgage options for self-employed individuals (click here to read the blog), where we spoke about “B” lenders and private lenders. Both of these lenders are alternative mortgage lenders, which means they are substitutes for Canada’s six big banks, credit unions, & mortgage financing companies. These lenders are lenient with borrower eligibility requirements compared to the “A” lenders. They also offer more flexibility and are understanding with their policies. This makes them ideal for individuals with low credit scores, low income, and those who are self-employed.

    Click Here To Read The Full Article


  • Mortgages For Self-Employed Individuals

    Author: Boychuk Mortgage Group | Aug 12, 2021 | Categories: Mortgage Broker , Mortgage Loans , Mortgage Refinance

    Blog by Boychuk Mortgage Group

    Did you know that the mortgages available to self-employed individuals are different from those individuals who a company employs? They are offered a different kind of mortgage due to their income, which may fluctuate depending on their earnings per month. If you’re a part of the self-employed community looking for funding to buy a new home, you’ve come to the right place. In this blog, mortgage broker Boychuk Mortgage Group has explained mortgages for self-employed individuals and how they work. Keep reading to learn more. 

    Click Here To Read The Full Article


  • How To Access Your Equity Through Refinancing

    Author: Boychuk Mortgage Group | Jul 23, 2021 | Categories: Mortgage Broker , Mortgage Refinance , Mortgage Renewals

    Blog by Boychuk Mortgage Group

    As you pay down your mortgage, you build equity in your home. This equity can be referred to as the percentage of the property you’ve currently paid for. In other terms, equity is the current value of your home, less your mortgage balance. The more mortgage debt you pay off, the more equity you gain. Similarly, if the value of your property increases, so will your equity. Lenders will loan up to a total of 80% of your home’s current value and will be subject to standard lending guidelines. This equity can be withdrawn to help you cover different expenses like a second home, renovations, or even to consolidate debt. To access the equity in your home, there are a few different mortgage options to consider. One of the more common solutions is refinancing.

    Click Here To Read The Full Article


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Recent Posts

  • The Role of a Mortgage Broker in Securing a Self-Employed Mortgage
  • The Pros and Cons of Using a Separation Mortgage to Buy Out Your Ex-Partner
  • Why It’s Essential To Revisit Your Mortgage Broker At Renewal Time
  • Should You Choose A Thirty-Year Mortgage Amortization Period?
  • How To Pay Off Your Mortgage Faster
  • Season’s Greetings from Boychuk Mortgage Group
  • Your Mortgage Refinancing Guide
  • Rental Property Mortgages
  • Porting Your Mortgage Explained
  • Mortgages Options For Newcomers Coming To Canada
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  • Non-Resident & Foreign Income Mortgages
  • Pre-Approval Mortgage
  • Real Estate Investing
  • Refinance To Consolidate Mortgages
  • Self Employed Mortgages
  • Steps To Buying Your Next Home
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  • Home
  • About
    • About
    • Why Boychuk Mortgage Group
    • FAQ
    • Blog
    • Articles
    • Trigger Rates Explained
    • Interest Rate Update – Everything You Need To Know!
    • Mortgage Glossary Terms
  • Services
    • Services
    • Bridge Financing
    • Co-Sign Mortgages
    • First Time Home Buyer Mortgages
    • Fixed Rate vs Variable Rate Mortgages
    • Home Equity Lines Of Credit
    • Investment Property Mortgages
    • New To Canada Mortgages
    • Non-Resident & Foreign Income Mortgages
    • Pre-Approval Mortgage
    • Real Estate Investing
    • Refinance To Consolidate Mortgages
    • Self Employed Mortgages
    • Separation Mortgages
    • Steps To Buying Your Next Home
    • Variable Rate Mortgages
  • Mortgage Calculator
    • Mortgage Calculator
    • Cash Flow Calculator – Rental Properties
    • Fixed vs Variable Calculator
    • Cash Flow Analysis – Monthly Budget
    • Purchase Calculator
    • Closing Cost Calculator
    • Land Transfer Calculator
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  • Contact Us