August 2022

Found 2 blog entries for August 2022.

What to Know About Going SolarCanadian homeowners are increasingly looking into clean energy to power their homes—and solar energy ticks that box as a good solution to save money, increase energy efficiency, and reduce your carbon footprint. Professionals can install panels on a rooftop or on a property to provide an additional source of power to a residence or replace more traditional forms of energy. Here are some things homeowners should know about solar energy in Canada.

How Do Solar Panels Work?

The process of converting sunlight into electricity is called photovoltaics, or PV for short. PV cells make up the main structure of the solar panel. Some light is absorbed when the sun shines on PV cells, creating electrons. These electrons flow through wires and create

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How Does Lenders Mortgage Insurance Work?You know that you need a down payment for a home when you're applying for a mortgage. But did you know that a small down payment may mean you need to purchase lenders mortgage insurance (LMI)? Learn what LMI is, how it works, and who needs it.

What is LMI?

Mortgage insurance protects your lender if you default on your mortgage. Home buyers who are putting down less than 20 percent will be required to purchase this insurance. If you own a home and you decide to refinance, you may need to purchase LMI if your established home equity is under 20 percent.

You'll pay a one-time premium for LMI, which is expressed as a percentage ranging from 0.6 to 4.5 percent of your mortgage. This premium can be paid upfront to keep your interest down, or added

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