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Refinancing

More Buying A Home Tips

6) Borrow up to $25,000 for your down payment from your RRSP – tax-free! If you are a first-time buyer, the Homebuyers Plan (HBP) allows you to withdraw up to $25,000 from your registered retirement savings plans (RRSPs) to buy or build your home. An Invis mortgage professional can tell you more about this program.

7) Understand closing costs. When buying a home, it pays to be informed about closing costs, which can represent up to three per cent of the purchase price, including: land transfer tax, lawyer’s fees, appraisal fees, title insurance and home inspection fees.

8) Know your financing optionsor refinance loans options. Many lenders offer mortgages which feature a 5% down payment, or in some cases 100% financing. If you borrow more than 80 per cent of the purchase price, your mortgage must be insured, typically by the Canadian Mortgage and Housing Corporation (CMHC) or Genworth Financial.

9) Don’t do it alone – explore the benefits offered by mortgage brokers. Mortgage brokers act as a one-stop shop for planning advice and the best rates. Invis mortgage professionals work with prospective homeowners across Canada to provide valuable advice before and during the home buying process.

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Refinancing Headlines

Refinancing: Time to Act? - Wall Street Journal

Wall Street Journal
Refinancing: Time to Act?
Wall Street Journal
By JESSICA SILVER-GREENBERG Mortgage rates have been hovering at historical lows for months—but some homeowners are waiting for even better deals before they take the plunge and refinance. Associated Press Townhouses in Beaverton, Ore.
With Rates This Low, Should You Refinance Again?MainStreet
Sen. Franken to introduce legislation to remove hurdles to mortgage refinancingCoon Rapids ECM Publishers
85 Percent of Refinancing Homeowners Maintain or Reduce Mortgage Debt in ...MarketWatch (press release)
Business Insider
all 363 news articles »

Bond refinancing saves money for Oklahoma County taxpayers - NewsOK.com

Bond refinancing saves money for Oklahoma County taxpayers
NewsOK.com
Oklahoma County commissioners voted this week to refinance about $4.6 million in bonds at a lower interest rate, which results in six-figure savings for county taxpayers. BY MICHAEL KIMBALL mkimball@opubco.com Leave a comment Historically low interest ...

and more »

Obama's Refinancing Swindle - CounterPunch

Daily Mail
Obama's Refinancing Swindle
CounterPunch
Read Captain Knutson's story. by MIKE WHITNEY Barack Obama's new housing refinance plan has nothing to do with “lowering monthly mortgage payments so responsible borrowers can stay in their homes”. That's all public relations bunkum.
Freddie Mac's Regulator 'Completely Puzzled' By Allegations Of ConflictNPR (blog)
DeMarco "Completely Puzzled" Over Derivatives FlapForbes
Regulator: Freddie Ceased Mortgage Transactions 'On Its Own'Wall Street Journal (blog)
Financial Times -San Francisco Chronicle
all 415 news articles »

Obama to detail broader housing refinance plan - BusinessWeek

Los Angeles Times
Obama to detail broader housing refinance plan
BusinessWeek
By JIM KUHNHENN The Obama administration is trying to fix a stubborn drag on the economy by making it easier for millions of additional homeowners to refinance their mortgages at lower interest rates even if they owe more than their homes are worth, ...
Obama Seeks Refinancing Aid to Lift HousingWall Street Journal
Obama proposes refinancing plan for underwater homeownersLos Angeles Times
Mortgage Relief Plan Aims at RefinancingNew York Times
USA TODAY -NPR -CBS News
all 1,125 news articles »

Derry Area to save $425000 by refinancing debt - Pittsburgh Tribune-Review

Derry Area to save $425000 by refinancing debt
Pittsburgh Tribune-Review
Derry Area School District is following the success of a December bond refinancing with another round of refinancing to save nearly half a million dollars. Officials hoping to capitalize on interest rates at historic lows on Thursday night authorized ...