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4 Important questions to ask before applying for a mortgage
Credit / Debts / Documents / Downpayment / Income / New to Canada / Purchase / Qualifying

4 Important questions to ask before applying for a mortgage

A mortgage professional can guide you along the road to financing approval, but it’s up to the borrower to provide directions on the way. What I mean by that is a mortgage professional cannot make the decisions for you, we’re not the ones making the payments. On that note, I believe an educated borrower is … Continue reading

New Mortgage Insurance Premiums Announced – Again!
Insurance / Lenders

New Mortgage Insurance Premiums Announced – Again!

January 17, 2017 brought the announcement of new mortgage insurance premiums to take effect on March 17, 2017.  This is the 7th set of changes since 2008. These new premiums will affect both CMHC and Genworth NEWLY insured mortgages. Special Note: These new changes affect homebuyers obtaining a new mortgage only. Homeowners with an existing mortgage or those … Continue reading

How does mortgage insurance work?
Downpayment / First Time Home Buyer / Insurance / Lenders / New to Canada / Purchase

How does mortgage insurance work?

If you have a mortgage, you have been offered mortgage life and disability insurance, probably more than once! This is different than the high-ratio mortgage insurance required when you have less than 20% downpayment (Read more on that type of insurance HERE). Whether you went through a bank or worked with an independent Mortgage Specialist … Continue reading

7 Mortgage Mistakes to Avoid in 2017
Bankruptcy / Broker vs. Bank / Credit / Debts / Documents / Insurance / Lenders / Pre-Approvals / Pre-Payment / Purchase / Rates & Terms / Refinance

7 Mortgage Mistakes to Avoid in 2017

  2016 brought the 6th set of mortgage rule changes since 2008 and while there is plenty of speculation on how the real estate market will be affected by them, I believe they were implemented with minimal immediate impact. For the majority of borrowers, financing a home is a process you will go through a … Continue reading

Do you know the right way to fill out a mortgage application?
Credit / Debts / Documents / Income / Lenders / Purchase / Qualifying / Rental Properties

Do you know the right way to fill out a mortgage application?

The mortgage credit application is a very important document as it’s the foundation on which the rest of the financing is built. This document is referred to when preparing the applicant for approval and used to determine what kind of supporting paperwork may be requested. This article isn’t about the strength of the application; instead, … Continue reading

How to successfully sell & buy a home at the same time
Downpayment / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules

How to successfully sell & buy a home at the same time

Tips for smoothly navigating two home transactions simultaneously You own a home now, but it’s time to make a change. If you’re moving up or downsizing, you probably have questions about how it all works. That is, the logistics of buying another home while you still own your existing property. Here are 10 facts you need … Continue reading

Can I get a mortgage without credit?
Bankruptcy / Credit / Debts / Documents / Downpayment / Lenders / Purchase / Refinance

Can I get a mortgage without credit?

Qualifying for a mortgage should not be too complicated and this week I want to cover a few reasons why a lender could decline a mortgage application. If only one of the below items applies, it’s very likely you can still get a mortgage, however, if your financial profile fits under more than two of … Continue reading