by Tribe Financial | Dec 25, 2020 | Blog, Finance, Homeownership, Mortgage
When discussing mortgage payments, most people focus on the interest rate. But, it’s also important to understand how the principal balance owing on your home comes into play with your monthly mortgage payment. The ‘principal’ is the amount of money you...
by Tribe Financial | Dec 18, 2020 | Blog, Finance, Homeownership, Mortgage
Ensuring homeownership remains an affordable option stretches well beyond monthly mortgage payments. There are numerous recurring expenses known as ‘carrying costs’ that help you maintain your investment and, therefore, must be factored into your budget to avoid...
by Tribe Financial | Nov 6, 2020 | Blog, Finance, Homeownership, Mortgage
How Does Skipping a Mortgage Payment Work? Many lenders provide the option for you to skip a mortgage payment each year to help alleviate those tight financial months where everything seems to come due at once. But this also may be an option to help you push...
by Tribe Financial | Sep 18, 2020 | Blog, Homeownership, Mortgage
One of the most challenging obstacles to homeownership is saving enough money for a down payment. Thankfully, mortgage default insurance provides a break to homebuyers that enables you to put less money down. The minimum down payment required to purchase a...
by Tribe Financial | Sep 4, 2020 | Blog, Economy, Homeownership, Mortgage
Both a home appraisal and an inspection are important steps within the home buying process, so it’s well worth your effort to distinguish the differences between them and learn how they can both be used to your advantage to uncover detailed information about a...
by Tribe Financial | Aug 7, 2020 | Blog, Economy, Finance, Mortgage
Canadian seniors who are feeling the financial effects of the COVID-19 pandemic are showing interest in reverse mortgages as a way to stay in their current homes. With a reverse mortgage, Canadians aged 55+ can borrow funds against home equity. No payments are...
