Why does one lender approve your mortgage application when another one won’t????
Broker vs. Bank / Credit / Documents / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / mortgage broker / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Talk to a Mortgage Broker / Uncategorized

Why does one lender approve your mortgage application when another one won’t????

As a busy Mortgage Broker for the last 16 years and 20 years before that as a banker, the first thought that comes to mind as I write this blog is “one thing is not like the other”.  Ever since all of the mortgage changes came into effect over the last few years, I have … Continue reading

What? A mortgage with no regular payments required? Is a Reverse Mortgage right for you?
cash-flow / Lenders / mortgage / Qualifying / Rates & Terms / Reverse Mortgage / Uncategorized

What? A mortgage with no regular payments required? Is a Reverse Mortgage right for you?

What is a Reverse Mortgage? A reverse mortgage is a loan that allows you to turn a portion of your home equity into cash without having to sell your home. The maximum amount you will be able to borrow will depend on your age, your home’s appraised value and the lender. With this long-term financing … Continue reading

Want to buy a house? Tips to ensure you don’t have to live in your car!
Broker vs. Bank / Credit / Debts / Documents / First Time Home Buyer / Helpful Tools / Income / Market Updates / mortgage / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Stress Test / Uncategorized

Want to buy a house? Tips to ensure you don’t have to live in your car!

When it comes to applying for a mortgage, the current debts you have affects the mortgage amount you can qualify for. I often see buyers who have worked hard to maintain a good credit score and saved up their down payment only to be told they don’t qualify at the price they want to buy … Continue reading

Mortgage Pre-Approvals: 7 Things you need to know
Broker vs. Bank / closing costs / Credit / Debts / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Refinance / Rules / Stress Test

Mortgage Pre-Approvals: 7 Things you need to know

Hopefully, all of the significant government mortgage rule changes are now in our rear-view mirror! Now more than ever, it is extremely important that potential homebuyers get pre-approved to buy a home as the maximum purchase price you may have qualified for in the past has now been reduced by at least 20%! Due to … Continue reading

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