Thinking of buying a property, but don’t know where to start?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rules / Uncategorized

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?
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 / First Time Home Buyer / Income / Lenders / Purchase / Qualifying / Rates & Terms / Rules / Uncategorized

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

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

Could your home be an income property?
Income / Rates & Terms / Rental Properties / Variable Interest Rates

Could your home be an income property?

With more houses for sale and many homeowners conscious of their current equity position, renting out your property may make sense. Although glamorized on shows like HGTV’s ‘Income Property’, there are a number of factors to take into consideration when making the decision to rent out your home or a secondary property. Take a look at … 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

How to qualify for the lowest interest rate
Credit / Income / Lenders / Pre-Approvals / Qualifying / Rates & Terms / Rental Properties

How to qualify for the lowest interest rate

If you are in the market for a mortgage, chances are you’re looking for the lowest interest rate you can get because it means a lower monthly payment. If you are shopping online, you’ve probably seen a great rate and then in fine print is ‘O.A.C. (on approved credit)’ or ‘rates subject to change without … Continue reading