Debts / Downpayment / Market Updates / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Important New Mortgage Rules taking affect July 9th

Ottawa announced new rules this morning that will affect mortgage applications submitted after July 9th, 2012. At this time, the new rules are only affecting insured mortgages, which is the case if you have less than a 20% downpayment. If you have any questions on how the new rules will affect you, contact The MortgageGirls … Continue reading

Credit / Debts / Documents / Downpayment / First Time Home Buyer / Income / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rental Properties

Meet Your New Best Friend: The Mortgage Pre-Approval

A Mortgage Pre-Approval is when your Mortgage Broker will submit your application to a lender for approval prior to you purchasing a home. The lender will then take a preliminary look at your mortgage application and advise you are pre-approved up to a certain purchase price. A pre-approval is not a binding commitment, but rather … Continue reading

Broker vs. Bank / Credit / Documents / Lenders / Mortgage Renewal / Pre-Payment / Qualifying / Rates & Terms / Refinance / Rental Properties

Knowing the ropes: Renegotiating your mortgage

Whether you are refinancing or renewing your mortgage, it pays to know what to expect and to be prepared.  Without going into too much detail, as everyone’s mortgage needs are different, here is a brief outline of how you can get ready for the renegotiation process; Determine the details When we get a call from … Continue reading

Broker vs. Bank / Documents / First Time Home Buyer / Income / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Documents Required for Mortgage Approval

Wondering what kind of documents your mortgage lender is going to ask for?  Now you can look at this handy reference sheet for some of the most commonly requested documents when applying for a mortgage. Keep in mind there are always alternative document options, so if you cannot provide a requested document don’t be afraid … Continue reading