Private Mortgage Insurance (PMI) is a form of insurance that protects the lender against loss in case you default on your mortgage payments. If something were to happen and you lost your house because of illness or loss of job, a PMI won’t pay the mortgage on your behalf. Read on to learn more about getting private mortgage insurance in Canada.

Buying a house is never a 100% seamless process, regardless of where you find yourself in the world. It’s no different in Canada either. Homeownership comes with costs that are typically difficult to be paid upfront and in full by the great majority of home buyers.

If you are creating a rental portfolio, you should know that, even though technically there’s no limit to how many conventional mortgages you can acquire, getting more than four is pretty much impossible. In this scenario, most buyers resort to private lenders, who offer much more flexibility around portfolio loans.

In this article, we’ll discuss the main differences between private lenders and banks in regards to owning several rental properties.

Over the past decade, the landscape of residential mortgage credit in British Columbia has experienced remarkable expansion. The consistent and robust growth in this sector is attributable to various factors, including increased demand for housing spurred by favourable demographics, urbanization trends, and historically low-interest rates.

Within this evolving landscape, an interesting development is the rise of Mortgage Investment Corporations (MICs). These unique entities have emerged as potent players in the lending ecosystem, offering attractive alternative lending sources for investors and borrowers alike.