Mortgages Explained - Latest Posts

Alex Lavender helps Nova Scotians get the best mortgage for your dream home. Whether you need a self employed mortgage or are looking to do construction with a mortgage plus improvements program, Alex can help. Or if you’re just looking for more information on mortgages checkout these blog posts for helpful tips. Alex is one of Halifax and Dartmouth's top rated mortgage brokers. Known for his kindness and flexibility he provides you with all the info you need to get the best rates!

Financial planning for homebuyers guide
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Financial Planning for Homebuyers

Buying a home is a serious decision you can make, ...

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mortgage renewal vs refinance

Mortgage Renewal vs Refinance Guide

Navigating the differences between a mortgage renewal and a refinance can be a complicated process for many homeowners. Tackling this monetary conundrum is no mean feat, especially when attempting to make the most financially astute choice. The terms mortgage renewal and refinance often get tossed around interchangeably. However, they are distinct processes with different implications ...
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porting a mortgage

Porting Your Mortgage / Mortgage Transfer Guide

Do you want to transfer your mortgage to another lender or bank? In Canada this is referred to as porting a mortgage. This mortgage transfer guide will break down exactly how you can transfer or port your mortgage to benefit from keeping your existing rate , while you sell your property to buy a new ...
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how to reduce mortgage payments

4 Creative Ways To Reduce Your Monthly Mortgage Payments

Homeowners across Canada are feeling the pinch of increasing interest rates, causing our monthly mortgage payments to jump. A mortgage is typically the largest debt most homeowners have, and managing it can be a considerable financial challenge. However, there are effective methods available to reduce your monthly payments, giving your budget more breathing room. In ...
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first time home buyer nova scotia

First Time Home Buyer’s Guide For Nova Scotians

Are you a first time home buyer? Don’t be stressed! Alex Lavender is a Halifax local and author of the best selling book Mortgages For Millennials. He’s a mortgage broker that has helped thousands of Nova Scotians buy their first home. This first home buyers guide will break down exactly what the home buying process ...
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5 ways to reduce your mortgage payments

How to reduce your mortgage payments in a high interest rate environment

The Bank of Canada is serious. They are committed to increasing interest rates to fight inflation at all costs. But how can you reduce your mortgage payments if you’re up for renewal or have a variable rate mortgage? This is how you can save money and reduce your mortgage payments. #1 Increase your mortgage amortization ...
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calculate interest rate differential

How to calculate interest rate differential (IRD)

The IRD is a financial penalty that may apply if you pay off your mortgage early, pay down the principal beyond what your terms allow, or break your mortgage for any reason before the term ends. The interest rate differential (IRD) is the difference between the interest rates on your current mortgage vs the interest ...
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monoline lenders vs the big banks

Monoline Lenders Vs The Big Banks

When it comes to “A” level mortgage financing, there are two main types of lenders: monoline lenders and the big banks. There are also others like private lenders and credit unions but we won’t focus on those here as they vary between provinces. What Is A Monoline Lender? A monoline lender is considered a broker ...
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early mortgage renewal

Should You Renew Your Mortgage Early?

Mortgages in Canada are commonly issued on five-year fixed terms. When the term ends you will need to renew your mortgage. Sometimes you may want an early mortgage renewal. In this post I’ll break down the pros and cons of renewing your mortgage early so you know what your best options are. The Early Mortgage ...
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what does it mean to refinance a mortgage

What does it mean to refinance a mortgage?

Many Canadians wonder what it means to refinance a mortgage. Alex Lavender – Mortgage Broker will tell you exactly what a mortgage refinance means, the penalties involved, and the pros and cons.  What is a mortgage refinance? A refinance is when you obtain a new mortgage for a higher amount to pay off your existing ...
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fixed vs variable mortgage

Fixed vs Variable Mortgage Rate Guide

Mortgages in Canada come in 2 main types, fixed rate and variable rate. At any point in this official mortgage rate type guide you can jump to a section: A fixed rate mortgage is a fixed term that will have a locked-in rate for the duration that you enter. The downside to this type of ...
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