About Richmond Lending Group

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Financial Relief with a Home Equity Loan

Use the equity in your home to relieve you of financial pressure.  If financial obligations become overwhelming and just paying your mortgage payments can be daunting.  The reasons for  facing financial difficulties;  reduction in income, high interest debt on many credit cards, sudden and unforeseen expenses, required renovations, life changes in your family dynamics and [...]

By |October 24th, 2014|Blog, Home Equity Loan, Residential Mortgages|Comments Off on Financial Relief with a Home Equity Loan

Getting Pre-Approved for a Mortgage

Are wondering if you should be pre-approved for a mortgage?  We at Richmond Lending  pre-approval is recommended before you sign a purchase and sale agreement and hand over a deposit.  Be aware, being pre-approved is not the same as pre-qualified.  Being pre-qualified is answering questions to qualify you by your mortgage broker so they have [...]

By |September 4th, 2014|Blog, Residential Mortgages|Comments Off on Getting Pre-Approved for a Mortgage

Tips for Hiring a Contractor for Renovations

If you have just purchased a home and require a mortgage or you already have a mortgage and require renovations, you will want to know the best mortgage solution and how to hire the right contractor for renovations.  Professional contractors are in the service business and a significant part of the value they provide lies [...]

By |August 23rd, 2014|Blog, Home Equity Loan, Home Mortgage, Mortgage Refinancing, Residential Mortgages, Second Mortgage|Comments Off on Tips for Hiring a Contractor for Renovations

Pros and Cons of Getting a Mortgage

If you are a first time home buyer or New to Canada, getting a mortgage is a decision not to be taken lightly; a mortgage is an big financial decision.   For most people living in Canada, it is not possible to own a home without a mortgage as very few home buyers  have thousands [...]

By |August 17th, 2014|Blog, Commercial Mortgages, Residential Mortgages|Comments Off on Pros and Cons of Getting a Mortgage

Questions to Prepare Before Meeting a Mortgage Broker

If you are a first time home buyer, chances are you need a mortgage.  Ontario Mortgage Brokers provide their professional opinion and will ask questions about your financial situation and future plans to ensure that your not exposed to undue risk and to find a suitable mortgage product.  It's always best to prepare before meeting [...]

By |August 4th, 2014|Blog, Debt Consolidation Loan, Home Equity Loan, Home Mortgage, Mortgage Refinancing, Mortgage Renewal, Residential Mortgages, Second Mortgage|Comments Off on Questions to Prepare Before Meeting a Mortgage Broker

The Benefits of Mortgage Advice

Getting a mortgage is getting into a huge financial commitment. For this reason, you can’t afford to go wrong. Whether you are taking a mortgage for the first time, moving home or remortgaging, the wide range of mortgage products available in Ontario, Canada can be overwhelming. Now this is where mortgage advice from a qualified [...]

By |July 28th, 2014|Blog, Commercial Mortgages, Residential Mortgages|Comments Off on The Benefits of Mortgage Advice

Expect to pay Fees When Taking Out a Mortgage

If you are making a home purchase, chances are you need a mortgage.    With a mortgage, you are able to make real estate purchases without paying the entire purchase price upfront. You repay the amount plus interest over a set number of years.  To ensure you get a good mortgage deal, it is important [...]

By |July 18th, 2014|Blog, Home Mortgage, Residential Mortgages|Comments Off on Expect to pay Fees When Taking Out a Mortgage

A Brief Guide to Refinancing Your Mortgage

Sometimes (usually due to bad economic climate), making the required payments on a loan mortgage can be difficult. If you ever get stuck in this situation, you should consider refinancing – a mortgage solution you can get through Ontario mortgage brokers. What is mortgage refinancing? Refinancing is the process of getting a new mortgage to [...]

By |July 13th, 2014|Blog, Mortgage Refinancing, Residential Mortgages|Comments Off on A Brief Guide to Refinancing Your Mortgage

Common Mortgage Insurance Payment Options

Mortgage insurance (or private mortgage insurance) is a form of insurance that provides lenders with protection against default. With the insurance, the lender bears less risk because the insurer will pay a claim to a lender in the event of a borrower’s default. NB: Not all mortgage loans qualify for insurance. A loan must meet [...]

By |July 8th, 2014|Blog, Home Mortgage, Residential Mortgages|Comments Off on Common Mortgage Insurance Payment Options