Mortgage Foundations

Summary In this conversation, Tyler Cowle, a mortgage broker, explains the fundamentals of mortgages, including what they are, how they work, and the various types available. He emphasizes the importance of understanding mortgage terms, interest rates, down payments, and the loan-to-value ratio. Cowle also discusses different mortgage products, such as fixed-rate and adjustable-rate mortgages, and the significance of prepayment options. He encourages listeners to educate themselves and work with a mortgage broker to navigate the complexities of the mortgage process effectively. Takeaways A mortgage is a loan to buy a property. Mortgages typically last from 15 to 30 years. The higher the interest rate, the more you'll pay. The down payment is a percentage of the total amount. LTV compares the mortgage amount to the property's value. Fixed rate mortgages offer stability and predictability. Adjustable rate mortgages can fluctuate over time. Prepayment options can help reduce your amortization. Different types of mortgages suit different needs. Educate yourself before diving into the home buying process. Keywords mortgage, home loan, mortgage broker, interest rates, down payment, loan to value ratio, fixed rate mortgage, adjustable rate mortgage, mortgage amortization, home buying process

Today's episode covers the benefits of joining Mortgage Foundations as a new agent or as an established agent or broker looking for a new home. Also offers tips of what to look for in a brokerage!

Today's episode explains the Mortgage Foundations Client Journey from the opening Discovery Call to Closing Day and into the future after closing.

Today's episode explains what a private mortgage is, the different types of private lenders and how to navigate the process of a private mortgage!

OSFI finally removes the stress test from un-insured mortgages after much pressure from those in the mortgage industry as well as government agencies.

Discussing the Federal Government's announcement of 30yr amortization for first-time homebuyers and the increase of the maximum price cap to $1.5M!

Explaining the pros and cons of a debt consolidation mortgage refinance.

Ever wonder how a Mortgage Broker gets paid for their services? Find out in today's epsiode where we discuss who pays a Mortgage Broker (hint - it is normally the lender)!

What does your credit score have to do with the interest rate for your mortgage? Today's episode explains that for many mortgages, the score alone may not affect much and it is the credit history and explanations that matter more!

Both fixed and variable rates may be coming down and we may find ourselves in a decreasing rate environment. Today's episode hom this type of environment can affect an upcoming renewal, current mortgage commitment, as well as potential future prenalties!

Today's epsiode explains the difference between the mortgage term and the mortgage amortization!

How does a Bank Of Canada rate cut affect a mortgage payment? Today's epsiode gives an idea of how a rate cut will affect a mortgage payment, or how it will affect the allocation of a payment to principal and interest!

Today's epsiode explains what a Home Equity Line Of Credit, or HELOC is, and discusses how it can be used to assist with your financing needs!

Today's epsiode explains what the Gross Debt Service (GDS) and Total Debt Service (TDS) ratios are and how the two calculations are used when qualifying you for a mortgage!

Today's episode explains the difference between a co-signer and a guarantor. Listen to the podcast to learn the pros and cons of each one!

In this episode we explain the difference between the interest rate and the Annual Percentage Rate (APR).For questions on this or anything else mortgage related you can reach Tyler at (905) 440-5392 or [email protected]

This episode discusses the Bank Of Canada rate cut and focusses on the effects for variable mortgage holders; as well as the potential effects on fixed rate mortgages.

Today's episode discusses what a Bridge Loan is and how it could be benficial to purchase a home sooner than the closing of the home you are selling!

Today's episode discusses the Captial Gains Tax on property sales and when it does and does not apply.

Getting a mortgage when you are self-employed of business-for-self can be challenging. Today's episode explains why this may be and gives an overview of how, and why, these mortgages differ from others!

Today's episode explains what a mortgage port is, and how it can be beneficial when purchasing a new property and keeping your current rate, or a blend of your current rate if a larger mortgage is required!

The federal government has finally realized that mortgage document fraud is a big issue and has advised that they are working with the CRA to allow a secure connection with lenders in order for lenders to be able to confirm client's income. This fairly simple change could effectively eliminate most mortgage document fraud from the industry!

Today's episode discussed announced changes to the RRSP Home Buyer Program, as well as an amortization change to 30 yr insured mortgage; but, only for first-time homebuyers buying new builds.

Today's epsiode explains what an alternative lender is, and how they can be used to obtain home financing. We will discuss the common misconception that alternative lenders are only used when there are credit issues, or other negatives; when in fact, some of the strongest clients are with an alternative lender due to their income stream!

Today's episode explains the difference between a Variable and an Adjustable rate mortgage. They are both based on prime rate and Bank Of Canada rate changes affect both; but, they are very different when it comes to payments over the term!

Today's epsiode explains the difference between a Standard mortgage charge and a collateral mortgage charge, and how they can affect your future home financing plans!

Explaining everything about the world of mortgages! This podcast will help you to understand how a mortgage works and explain the details. Mortgage Foundations is located in Oshawa, Ontario and is a Licensed Mortgage Brokerage with FSRA # 13614. It's Principal Broker is Tyler Cowle; who is also the host and main contributor to this podcast!

Explaining everything about the world of mortgages! This podcast will help you to understand how a mortgage works and explain the details. Mortgage Foundations is located in Oshawa, Ontario and is a Licensed Mortgage Brokerage with FSRA # 13614. It's Principal Broker is Tyler Cowle; who is also the host and main contributor to this podcast!

Explaining everything about the world of mortgages! This podcast will help you to understand how a mortgage works and explain the details.Mortgage Foundations is located in Oshawa, Ontario and is a Licensed Mortgage Brokerage with FSRA # 13614. It's Principal Broker is Tyler Cowle; who is also the host and main contributor to this podcast!

Explaining everything about the world of mortgages! This podcast will help you to understand how a mortgage works and explain the details.Mortgage Foundations is located in Oshawa, Ontario and is a Licensed Mortgage Brokerage with FSRA # 13614. It's Principal Broker is Tyler Cowle; who is also the host and main contributor to this podcast!

Explaining everything about the world of mortgages! This podcast will help you to understand how a mortgage works and explain the details.Mortgage Foundations is located in Oshawa, Ontario and is a Licensed Mortgage Brokerage with FSRA # 13614. It's Principal Broker is Tyler Cowle; who is also the host and main contributor to this podcast!

Today's epsiode explains what an appraisal is, when they may be required and how they are used by lenders in the approval process of your mortgage

Today's episode explained the mortgage renewal process and why it is always important to discuss an upcoming renewal with a Mortgage Broker instead of just accepting what your current lender offers.

Today's episode discusses the Purchase Plus Improvement mortgage program and how it can be used to help to buy the almost perfect home, that may need a bit of work to make it exactly what you are looking for!

Pre-payment penalties are an important part of almost every mortgage and if you are not prepared for them, you may find yourself surprised by a substantial penalty to break your mortgage. Today's epsiode explains what a pre-payment penalty is, common ways of calculating them and how some can be much more than others!

Today's epsiode discusses mortgage refinances and explains the pros and cons of using one!

What is a pre-approval and why are they beneficial when shopping for a property? Today's episode explains the benefits of a pre-approval and the included rate hold!

Today's episode explains what the Stress Tes is and how it is used to qualify you for a mortgage!

In today's episode we discuss the different type of mortgages available; Insured, Insurable and Uninsurable.

In today's episode we cover why you should consider using a mortgage broker and how they can make your home ownership journey from start to finish!

The first epsiode of the Mortgage Foundations podcast explains what a mortgage is and how it is used for your home financing needs!