conventional mortgage

What does it take to qualify for a Conventional Home Loan? What is the requirement for a down payment? We’re talking with loan expert Micah Mayfield from Delmar Mortgage to answer these and other important questions on Getting Real With Real Estate. Listen here or find it wherever you get your podcasts.

Housing prices in Canada are set to keep rising throughout 2022. The trend is not expected to slow down even with the prospect of higher interest rates. Homeowners with existing mortgages are the ones benefiting from the gap between low interest rates and high inflation. But what is the true cost of home ownership? Is it still a good investment? In today's podcast Licensed Insolvency Trustee, Matthew Fader, talks about mortgage and debt. He goes through the different refinancing options available and explains some of the terms used to describe them. He also covers:

• The basics of conventional mortgages
• The pros and cons of Home Equity Lines of Credit (HELOC)
• Your mortgage’s paper equity 
• Shopping for mortgage insurance
• Options for 2nd and 3rd mortgages

If you are struggling with your mortgage payments, Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. 

About Matthew Fader

Matthew has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect. 

Additional Resources 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Preparing for Higher Interest Rates When You Have Mortgage Debt
• Is a Home Equity Line of Credit (Heloc) A Good Way to Get Out of Debt?

In this week's episode, we start our new mini series that will cover the different products of financing a home. We begin with talking about conventional loans, who it may be best for, and cover a few scenarios on when conventional may not be the right loan. As always, we hope you enjoy!

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