Have you been asked to co-sign on a mortgage?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

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

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

Mortgage Pre-Approvals: 7 Things you need to know
Credit / Documents / Insurance / Lenders / Market Updates / Pre-Approvals / Purchase / Qualifying / Rates & Terms

Mortgage Pre-Approvals: 7 Things you need to know

Recently the government announced the 6th change to the mortgage rules in eight years. I have seen both positive and negative opinions on how these will affect housing prices, interest rates, and the overall mortgage market landscape. Regardless of the new changes; the housing market is still strong and Canadians will always have a need … Continue reading

6 Mortgage Products You Haven’t Heard Of
Documents / Income / Insurance / Market Updates / Mortgage Renewal / New to Canada / Purchase / Qualifying / Refinance

6 Mortgage Products You Haven’t Heard Of

If you’re like most borrowers, you won’t be shopping for a mortgage very often. This means you may not know all about the specialty mortgage products that are currently available in the mortgage market. I’ve provided a brief overview of a few of the less common mortgage financing options below that I have recently encountered. … Continue reading

Which city can you afford to live in?
Downpayment / Income / Market Updates / Purchase / Qualifying / Rates & Terms

Which city can you afford to live in?

The average home price varies significantly between Canadian cities. I’ve picked 10 cities and have detailed how much you need to earn annually to qualify for the purchase of an average priced property in that location. As the values are so different, the figures below will also provide you with a good idea of how … Continue reading

Downpayment / First Time Home Buyer / Insurance / Market Updates / New to Canada / Pre-Approvals / Purchase / Qualifying / Rules

Mortgage Insurance Changes: Downpayment

You may have already heard about the upcoming rule change affecting the minimum downpayment on insured mortgages. I want to break it down so it’s clear how this new change affects your current and future mortgage financing options. Who & What There has been an increase to the minimum downpayment required for properties with a purchase … Continue reading

7 Mortgage mistakes you should avoid in 2016
Credit / Documents / Downpayment / First Time Home Buyer / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Purchase / Qualifying / Refinance

7 Mortgage mistakes you should avoid in 2016

With the recent announcement of another mortgage rule change, we have been getting borrower inquiries about how this will affect potential financing options. The new minimum 10% downpayment requirement for properties with a purchase price of over $500,000 will not affect the majority of new borrowers unless you are buying in the higher priced property … Continue reading