MortgageGirl Answers Frequently Asked Questions (Summer 2018)
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rules / Uncategorized

MortgageGirl Answers Frequently Asked Questions (Summer 2018)

Do you have mortgage questions? The MortgageGirl can answer today’s most commonly asked questions How much house can I afford to buy? I constantly get asked this question and due to recent mortgage rule changes, the answer is now quite different than it was last year at this time. Basically, the new house debts such … Continue reading

Why has my mortgage application been declined?!?!
Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Lenders / Market Updates / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Uncategorized

Why has my mortgage application been declined?!?!

Being declined for a mortgage can be quite disheartening, especially when you consider all of the hard work that goes into applying for one in the first place! Understanding why you were declined allows you to recognize certain areas of your finances that can be improved. The good news is that just because one lender … Continue reading

Bank declined you? What other mortgage options are available?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Lenders / Market Updates / mortgage / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rental Properties / Rules / second mortgage / Second Mortgage Options / Stress Test / Uncategorized

Bank declined you? What other mortgage options are available?

With all of the significant government mortgage rule changes I have personally seen a growing segment of the population finding it more difficult to qualify with a prime lender at best rates for a number of reasons. Borrowers with recent credit issues, or those who just don’t make enough income to qualify in the price … Continue reading

How to successfully sell and buy a home at the same time!
Broker vs. Bank / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rules / Uncategorized

How to successfully sell and buy a home at the same time!

You own a home now, but it’s time to make a change. If you’re downsizing or moving up, you likely have questions about how it all works. That is, the logistics of buying another home while you still own your existing property. Here is what you need to know about going through the two transactions … Continue reading

What do first-time homebuyers need to know?
Broker vs. Bank / Credit / Downpayment / First Time Home Buyer / Helpful Tools / Insurance / Market Updates / mortgage / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Stress Test / Uncategorized

What do first-time homebuyers need to know?

If you’re ready to buy your first home and want to have a smooth and successful home purchasing experience, avoid these common first-time home buying mistakes. Find a good Mortgage Broker Ask for recommendations from friends, family and co-workers to find the professional that is right for you. If you are looking on-line, read the testimonials … Continue reading

Spring has sprung! Is Now the Right time to buy a home?
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / First Time Home Buyer / Market Updates / mortgage / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rules / Stress Test / Uncategorized

Spring has sprung! Is Now the Right time to buy a home?

The first day of spring is March 20th and it can’t come soon enough after being cooped up during some very cold winter months! As experts in the real estate industry say the spring market is the busiest time of the real estate year, now would be the time to make the decision, do I … Continue reading

IS YOUR DREAM HOME NO LONGER FITTING INTO YOUR BUDGET?
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / Income / Lenders / Market Updates / mortgage / mortgage rule changes / Purchase / Qualifying / Rules / Stress Test / Uncategorized

IS YOUR DREAM HOME NO LONGER FITTING INTO YOUR BUDGET?

It has now been over a month since the Office of the Superintendent of Financial Institutions (OSFI) announced its sixth change to its B-20 guidelines, which are otherwise known as the mortgage rules that must be followed by all federally regulated lenders. I have heard a number of mortgage brokers are saying the borrower rejection … Continue reading