You can’t live in your car!
Broker vs. Bank / Credit / Debts / Income / Lenders / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rules / Uncategorized

You can’t live in your car!

When it comes to qualifying for a mortgage, the current debts you have can determine what purchase price you can buy at. I often hear from people who have worked very hard to maintain a good credit score and have finally saved up the down payment and are now ready to buy. However, after my … Continue reading

Relationship Breakdown Mortgage Refinance
Credit / Debts / divorce / Downpayment / Lenders / Mortgage Renewal / Purchase / Qualifying / Refinance / Relationship Breakdown / Rules / Uncategorized

Relationship Breakdown Mortgage Refinance

If you own and live in a home with a sibling, partner or spouse, common law or married, and have decided to part ways; read on. I believe one of the most stressful issues of a relationship breakdown is what to do about the jointly owned home and mortgage. Over the years I have helped … Continue reading

Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Income / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized / Variable Interest Rates

Why asking “dumb” questions is quite smart!

There is no such thing as a dumb question. In fact, the smartest thing you can do is ask the most basic question you can think of. The MortgageGirl welcomes and encourages her clients to ask all kinds of questions during the complicated mortgage process. Some of the more common questions the MortgageGirl gets are: … Continue reading

Can I still buy a home if I have bad credit?
Bankruptcy / Credit / Debts / Downpayment / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms

Can I still buy a home if I have bad credit?

YES! You can buy a home- even with bad credit. Your Credit Report is one of the most relevant items a financial institution will use to determine the risk level of lending you money. Your Credit Report indicates to lenders how well you have paid your creditors in the past and they will use this … Continue reading

Should I renew my mortgage early?
Credit / Debts / Documents / Income / Lenders / Mortgage Renewal / Qualifying / Rates & Terms

Should I renew my mortgage early?

The quick answer is, it depends on why. If you plan on staying with the same lender and you’re worried rates will be higher when your actual renewal date is here, then yes- renew your mortgage early. BUT, before you do that, ensure you’re aware of the other options available to you. Not shopping around … Continue reading

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

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