Thinking of buying a property, but don’t know where to start?

Thinking of buying a property, but don’t know where to start?   IT’S A PROCESS! Step 1 In these uncertain times, I believe it’s important to get all parts of the process working together.  A pre-approval is one of the first steps you take, though, that’s after you find a good Mortgage Broker to work with. … Continue reading →

Have you been asked to co-sign on a mortgage?

Recently, we have noticed an increase in the number of inquiries about co-signing a mortgage. So, the question is, what exactly does it mean to be a co-signer? Why are we being asked this question so often? We say due to 2 significant recent government mandated changes to mortgage qualifying that both went into effect … Continue reading →

A mortgage borrower’s guide to the 5 C’s of Credit

So you want to apply for a mortgage, but do you actually know what a mortgage lender is going to look for in your credit application? You will be much further ahead if you understand exactly what a lender wants to see from you versus guessing what their priorities and major concerns are in assessing … Continue reading →

Is buying a home with “no down payment” a good idea?

Regardless of whether you are a first-time homebuyer or not, have you noticed a lot of advertising for buying a home with “no down payment” or “100% financing”? Many people ask Jackie, The MortgageGirl about buying with no money down and she say’s ‘just because you can, doesn’t mean you should’. A down payment, often referred to … Continue reading →

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 →

Who is the MortgageGirl?

Who is Jackie Woodward the MortgageGirl? Jackie began her career in the financial industry over 35 years ago where she started as a Bank Teller with one of the big 5 banks. Throughout the years, she learned all about mortgages from some very seasoned Mortgage Underwriters. However, one thing really bothered Jackie and that was … Continue reading →

Making sense of the new best mortgage rates

Gone are the days when making a large down payment means you are rewarded with best mortgage rates due to recent Federal Government rule changes. What?!?! Prudent savers are now being charged higher, not lower rates! Read on to find out if you should buy now with a minimal down payment or keep saving. Within … Continue reading →

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 →

When the lowest rate is NOT the best idea

A low interest rate is appealing because it means a lower mortgage payment. However, before you sign on the dotted line, it’s important to read the fine print that comes with that low rate. Here are a few details to inquire about before you proceed as they could affect your options down the road and … Continue reading →

What is a rate hold?

A rate hold is the length of time your interest rate is held for, it’s used to protect the borrower from rising interest rates.  If rates go up before your rate hold has expired, you are entitled to the original lower rate that was held for you. If they go up after your rate hold has … Continue reading →