Silverman Mortgage Group Blog

Don’t Assume Anything!

A lot of people get into hot water when they assume that because they've qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it's this: Don't assume anything when dealing with mortgage financing!...

read more

Mom and Dad to the Rescue

With housing affordability declining across Canada, one trend is on the rise: parents are increasingly helping their adult children when it comes to housing. That assistance is coming in the form of cash gifts/loans for today’s growing down payments, and also from...

read more

Mortgage Insurance

If you put less than 20% down on any home in Canada, you are required to have mortgage insurance. This does not need to paid out of pocket and may be added to your mortgage balance. There are three companies that offer mortgage insurance in Canada: CMHC, Genworth and...

read more

You Just Got a Mortgage. Now What?

Mortgages are a funny thing. On the one hand they allow you to become a home owner without saving up enough money to purchase the home outright, which is a really good thing. On the other hand, even at today's really low interest rates, as they are amortized over a...

read more

What is Bridge Financing?

Let's say you have a home that you've outgrown, it's time to make a move to something more suited for your family. You have no desire to keep two houses, so you decide that selling your existing home, and moving into something new is the best idea. Ideally, when...

read more

Appraisal

Every mortgage needs some consideration of value. Your downpayment and the type of property you are buying will determine if and when an appraisal is needed. Virtually all refinances will require an appraisal.  If you put down less than 20%, a mortgage insurer will...

read more