Who Is A First Time Homebuyer!!!

This is a question I get all the time so thought it a good idea to explain.  The term “First Time HomeBuyer” actually does not exist anymore in purchasing a property.  It used to be a few years back that in order to go as low as 5% down payment on a home you could not have owned a property for the past 5 years and the property you are buying had to be your principal residence.  That is no longer the case. The new rules are only that you must be going to live in the property as your home.  You can own as many other properties…

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Porting A Mortgage – Is It A Good Idea

There are so many terms that you hear in the mortgage process and some of those are not ones that necessarily come up when you sign your mortgage commitment or even when you sign legal documents. At Advance Mortgage however, we feel it is important for you to know what type of mortgage you are getting and what it allows for throughout the length  of your mortgage term. A port in simple terms means taking the mortgage from one security to another.  This is very important because if you are taking a fixed term mortgage product you are signing a contract that says you are locked into this…

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