Looking for an experienced mortgage and insurance broker in Toronto? Contact Outline Financial for all your mortgage and insurance needs. We are one of Canada’s top-rated mortgage and insurance companies offering direct access to rate and product options from over 30 banks, credit unions, mono-line lenders and insurers all in one convenient service. Our team consists of senior-level bankers and financial planners that strive to offer an exceptional service experience to all our clients. For more information and to connect with our insurance and mortgage brokers, visit www.outline.ca.
Insurance Experts in Toronto - Outline Financial. Residential & Commercial Mortgage Brokers in Toronto – Outline Financial. Guaranteed Issue Life Insurance in Toronto - Outline Financial. Creditor Insurance in Ontario - Outline Financial. Mortgage Insurance in Toronto- Outline Financial. With mortgage insurance, you typically have a choice of life, disability, or both.
With mortgage life insurance, in the event of your death, the benefit payment goes to the lender to pay off the remaining principal amount of your mortgage (or the % that you have insured). The amount of coverage that you hold will decline in line with your mortgage balance. The payment ensures that your mortgage debt is paid off, ideally allowing your family to remain in the house that they call home.
Another type of mortgage insurance covers injury/illness. In this case, should you have an injury/illness the insurance policy will cover your monthly mortgage payments and can also include property tax payments. Disability Insurance in Toronto - Outline Financial. Health & Living Benefits Insurance in Ontario - Outline Financial. Health and living benefits insurance helps replace your income should you become sick or injured and/or covers you for services or costs that fall outside of your provincial health care plan.
The coverage ensures you receive the funds you need, when you need them, and can provide help during medical emergencies, costly follow-up care, or procedures that would otherwise not be covered. At Outline Financial we will work with you to create a custom plan to give you peace of mind. Outline Financial has direct access to over 15 of Canada’s largest insurance companies and offers a range of flexible health insurance products including: Disability insuranceCritical illness insuranceLong-term care insuranceand Mortgage/creditor protection insurance.
The Ultimate Home Buyers Guide to Navigating a Pandemic. The appraisal process is significantly different from what we are used to in a pre COVID-19 environment, and if fact, it continues to change.
As most appraisers will no longer go into properties to conduct interior inspections because of social-distancing practice, the industry has been very innovative by coming up with Modified Full-Inspection (ModFI) reports in order to provide timely appraisals. While most lenders are fine with the new method, it is important that clients and realtors understand that appraisers are now often relying on pictures, videos and conversations with them to help determine the property’s value. In some cases, the appraiser may also ask for additional information such as room dimensions.
To best prepare for this scenario (especially when concerned with the valuation), it would be best to pull together relevant documentation in advance, and allot about 30 to 60 minutes of talking time with the appraiser after sending the documentation. Critical Mortgage Update – Outline Financial is Here to Help! Bank of Canada Cuts Overnight Lending Rate by 0.5%: Effect on Mortgage Rates. The Bank of Canada just cut the Overnight Lending Rate by another 0.5% (from 0.75% to the all-time low of 0.25%).
What does this mean for mortgage rates? Prime Rate – The banks’ Prime Rate is typically tied to the Overnight Lending Rate. The banks’ Prime Rate before this most recent rate cut was 2.95%. Do we expect Prime Rate to decrease? Variable Rate Mortgages – Variable rates are priced based on a discount to Prime. Why is this happening? For any new clients wanting to get into a variable rate to take advantage of any savings, unfortunately, discounts to prime are disappearing and you will now typically be paying above where a fixed rate will price you at today.
Fixed Rate Mortgages – For fixed rates, there is a strong correlation between fixed rate pricing and the Government of Canada bond yields. We hope the above helps shed some light on the current circumstances, and if you have any questions, or would like updated information, please call or email at any time. Benefits of Hiring a Mortgage Broker. Best Tips for First Time Home Buyers. The Benefits of Being a Homeowner – Outline Financial. First Time Home Buyer Incentives - Outline Financial. Embed Code For hosted site:
7 Things You Didn’t Know about Life Insurance. Embed Code For hosted site:
First Time Home Buyer Incentives - Outline Financial. Why Should You Choose an Insurance Broker? Several insurance companies persuade people who shop for insurance to opt to visit directly and cut out the middle guy to save some money.
But, there are numerous reasons why you should use insurance brokers in Toronto to help you navigate the insurance shopping process.Broker pricing is much better compared to direct pricing; cutting out the insurance broker isn’t going to save you much money. Insurance agencies offer brokers lesser rates since they are trained professionally to assess risk and to aid their clients in choosing a policy that effectively insures them. Any business that buys insurance via a broker will take on less risk because of the skill of the broker at assessing the business.Help process easilyShopping for business insurance via a broker provides an easier and smoother process as well. They typically provide online and phone service. Important Qualities to Look for in a Mortgage Broker.
Ways to Use the Equity in Your Home. Once you’re a homeowner, the payoff can be great.
When you make a mortgage payment each month, you build equity in a place of your own. As the equity in your home grows, your financial flexibility also increases. Think of it as an extra source of financing for when the unexpected happens. An added benefit of borrowing money against the equity in your home, is it usually comes with a lower interest rate than other forms of credit, such as consumer loans, lines of credit and credit cards.
Little Things Can Make a Big Difference! Mortgage & Insurance Brokers in Toronto - Outline Financial. Why Mortgage Brokers are Important When Purchasing Property. You might be a successful businessman, but are you an equally successful broker?
When you narrow down options on buying a property, the chances are that you have to apply for a mortgage; do you want to tax yourself by having to find lenders yourself or do you wish to outsource the task to top mortgage brokers in Toronto and be at ease? Who is a mortgage broker? Mortgage brokers are intermediaries who act as a bridge between the money lenders and borrowers, thus making buying a property an easy task.Why is Mortgage Broker Important? 1. Better accessibility: Do you have access to all the lenders in the market, and are you well versed with interest rates? 5 Benefits of Life Insurance. Embed Code For hosted site: Click the code to copy. 5 Reasons to Hire a Mortgage Broker. What to Expect When Applying for Life Insurance. Life insurance can help ensure your dependents have the resources they need to replace your income after you die.
But how do you go about purchasing coverage? And what can you do to get the best possible rate? Understanding the process for obtaining life insurance can help you get the coverage you need at a price you can afford. Determining Your Life Insurance Policy and Coverage Needs There are two main categories of life insurance: permanent life insurance, which provides coverage for your entire life, and term life insurance, which provides coverage for a set period of time. Buy Your First Home Today – Mortgage Broker Toronto. Commercial Mortgage Brokers in Toronto – Outline Financial. Top 7 Reasons to Buy Life Insurance.
Important Questions to Ask When Choosing a Mortgage Broker. How to Get Your Mortgage Approved Fast. What is a Credit Score, and How to Improve Yours. Thinking of Co-Purchasing with Friends or Relatives? Life Insurance Brokers in Toronto – Outline Financial. Common Mortgage Myths You Need to Avoid. Things to Know Before Applying for A Mortgage. Embed Code For hosted site: Different Types of Mortgages in Canada. Buying a home is often the ultimate goal for any individual who is about to get married and start a family life. If you are one such individual, then you should get in touch with residential mortgage brokers in Toronto who can help you regarding the best type of mortgage plans that work with your income limit and monthly expenses.Conventional, high-ratio, open, closed, fixed-rate, and VRM (Variable Rate Mortgages) are some of the different types of mortgages that are available in Canada.
By having a professional and experienced mortgage agent in Toronto by your side, you can easily acquire a loan.Flexible open mortgagesOpen mortgages are one of the most recommended types of mortgage plans that let you pay the loan amount in a flexible period without having to face any penalty. Such open mortgages have a shorter repaying period involved, making it possible for any individual to pay the entire loan amount as early as possible. Mortgages & Life Insurance – How Do They Fit Together? Best Tips to Make the Most of Your Home Equity. Residential Mortgage Brokers in Toronto – Outline Financial.