What is the benefit of getting a pre-approval?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms

What is the benefit of getting a pre-approval?

The government has made a number of changes to the mortgage rules over the past few years which have made a significant impact to the mortgage market landscape. I have found one of the major implications of these changes is that it reduces the number of people who can actually qualify for a mortgage now versus the … Continue reading

Fixed or variable rate?
Credit / Debts / Downpayment / First Time Home Buyer / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Variable Interest Rates

Fixed or variable rate?

Take the quiz to find out which option is best for you Whether this is your first mortgage, your mortgage is soon due for renewal or you are thinking of refinancing; choosing an interest rate and mortgage term that is right for you can be a daunting task for some. You have to decide if … Continue reading

How to fill out a mortgage application
Credit / Documents / Lenders / New to Canada / Purchase / Qualifying / Rental Properties

How 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; … Continue reading

10 Reasons why a mortgage is declined
Credit / Debts / Documents / Downpayment / Income / Lenders / Purchase / Qualifying / Refinance

10 Reasons why a mortgage is declined

Qualifying for a mortgage should not be complicated, and there are numerous articles written about how to get approved. This week I want to cover a few reasons why a lender could decline a mortgage application. If only one of the below applies, it’s very likely you can still get a mortgage. However, when your … Continue reading

Don’t be a victim of mortgage fraud
Credit / Documents / Downpayment / Lenders / Purchase / Qualifying / Rental Properties

Don’t be a victim of mortgage fraud

Mortgage fraud is a crime that affects both lenders and borrowers. It can negatively affect credit scores, raise insurance premiums, increase document requirements, waste time and money and cause stress for honest borrowers looking for financing. There are a few actions you can take to protect yourself from becoming a victim of mortgage fraud; the … Continue reading