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Financing

Not sure how to put together a down payment? Want to buy a second property? How can you leverage your home equity to pay for your children’s post-secondary education? Dare to dream. You’ll find your answers here.

  1. Loan or home equity line of credit?

    house and a piggy bank in hands

    by Multi-Prêts Mortgages What you’ll learn What is a home equity line of credit?  Pros and cons Beware excessive debt: discipline is a must! Some claim a home equity line of credit is practically a gift from the Gods. Others claim it’s a scheme that encourages excessive debt and financial ruin. But whom should you […]

  2. Understanding your mortgage payment

    In this article Components of a mortgage payment Mortgage amortization Mortgage terms Payment frequency Prepayments If you own your home, chances are you took out a mortgage to finance the purchase. Now, like most homeowners, you make payments several times a year to pay it off. But do you know how those payments are actually […]

  3. Your relationship, your finances

    In this article: Keep your finances separate Combine your incomes Split everything 50/50 Divide expenses according to income Know your property rights Whether you’ve been with your significant other for one, five, or ten years, you’ve probably broached the topic of money. Maybe you’ve even had some heated debates! It’s only natural to butt heads […]

  4. How to choose a credit card

    In this article Credit limit Annual fees Interest rate Credit balance insurance A credit card that’s right for you Credit cards have multiple uses. They’re great for making online purchases, they let you borrow money to obtain all kinds of goods and services, and they come in handy when things unexpectedly go south. When properly […]

  5. Renewing your mortgage early

    In this article: Reasons to renew your mortgage early The consequences of an early renewal Two strategies to minimize the consequences of an early renewal Do the math Interest rates, instalment amounts, payment frequency . . . Mortgages come with many conditions. You can renegotiate them at the end of your term, which is typically between six months […]

  6. Home equity line of credit: What you need to know

    by Denis Doucet What you’ll learn The pros and cons of a home equity line of credit What conditions you need to fulfill to obtain this financial solution  The dangers of a home equity line of credit A home equity line of credit is a mortgage product that can come in very handy, thanks in part […]

  7. Online Mortgage Pre-qualification: Now Available!

    by Denis Doucet What you’ll learn What does pre-qualifying for a mortgage mean? Why should I pre-qualify for a mortgage? What is the maximum amount of financing I can afford to buy a property? What’s the difference between pre-qualifying with a financial institution and pre-qualifying for a mortgage with Multi-Prêts? Is it possible to apply for […]

  8. How to finance your home renovations

    What you’ll learn Self-financing For small projects For large projects There comes a time when a little change can do a world of good. If minor aesthetic changes aren’t enough, and you don’t want to go through the hassle of moving, a renovation project may be in order. If you’re looking to borrow in order […]

  9. How to develop healthy financial habits

    by Multi-Prêts Mortgages What you’ll learn Better manage your credit card Make a budget Assess your personal finances Develop good saving habits Better manage your credit card A credit card is an excellent tool if used wisely. With a little discipline, it becomes the best financial tool to create a good credit history, which allows […]

  10. Demystifying mortgage deeds

    by Multi-Prêts Mortgages What you’ll learn The notary: An impartial legal expert Conventional mortgage or umbrella mortgage? Speak to your broker Have you just been approved for a mortgage? Congratulations! There’s still one last thing to do, however, before your loan becomes official: make an appointment with a notary. Under the Quebec Civil Code, mortgages […]