This past week in early November 2022 it was announced that Canada’s annual inflation rate held firm in October, likely keeping the BoC on track to press ahead with interest rate hikes. Remember that bank Prime is up to 5.95% today. The BoC meets on Dec 7th where they likely move Prime upwards by a [...]
To learn more about your mortgage in Brampton, read this blog series where we show you the different types of options you have. If you aren't familiar with mortgages then you may be surprised at how many options there are for you out there. Some mortgage types are more common than others, however, the type [...]
With 2016 now in the rear-view mirror, it’s time to look at how the housing market performed in comparison to 2015 in Brampton. As mortgage professionals, whether you’re interested in a Brampton refinance, renewal or buying your first home, our team at Lotus Loans will take care of your needs. December 2016 ended the year [...]
Whether you’re looking for a second mortgage Brampton, a refinance or you’re buying a home for the first time, Lotus Loans is here to help. As local mortgage professionals, we work with clients who are looking for a variety of mortgage products based on their specific need. For many of these clients it is the [...]
As an experienced Brampton mortgage broker, the Lotus Loans team is always monitoring and evaluating the local housing market to pick up any trends that could potentially help our clients. Sales jumped significantly when looking at this past October and comparing it to October 2015. For all home types in Brampton, there were 933 units [...]
As mortgage professionals, we frequently have clients who approach us with many questions regarding their mortgage. These people include both first-time home buyers and experienced buyers. Getting a mortgage is an important process a person’s life. More often than not it is an indication of an exciting time in their life, like purchasing a brand-new [...]
The average mortgage loan in Brampton is $211,380. As you know, there are many different types of mortgage options available. Ranging from first-time home buyers to construction loans, there is a mortgage option for whatever you require. We’ve highlighted the top types of mortgage inquiries received in Brampton according to SuperBrokers and with each type [...]
To be a leading Brampton mortgage broker, it is important that we know what is going on in the Brampton mortgage and real estate industry and prepare for any potential trends we can expect to see in the future. Currently, the real estate market in Brampton is red-hot. Housing sales in Brampton experienced double-digit growth, [...]
Currently at Lotus, we have access to an abundance of private mortgage funds, and one of those is the private second mortgage Brampton. With the new mortgage rule changes as of July 9th, 2012, limits have been set on refinancing to 80% of the value of one’s home. This means access to home equity has become [...]
Maximum Secured Line of Credit limits to drop from 80% to 65% Loan to Value. Although none of the 4 new Mortgage Rules introduced this past July 2012 had anything to do with reducing the limits on a Home Equity Line of Credit (HELOC’s), this rule change is coming soon. All banks must comply by [...]
