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

Credit and marriage go together like a horse and carriage. Not always!!!!
Broker vs. Bank / closing costs / Credit / divorce / Documents / Lenders / mortgage rule changes / Purchase / Qualifying / Refinance / Relationship Breakdown / Rules / Uncategorized

Credit and marriage go together like a horse and carriage. Not always!!!!

If you own and live in a home with a sibling, partner or spouse, common law or married, and have decided to part ways; read on. I believe one of the most stressful issues of a relationship breakdown is what to do about the jointly owned home and mortgage. For some, one party could keep … Continue reading

Mortgage due for renewal soon? Do you stay or do you go?
Broker vs. Bank / Credit / Documents / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Qualifying / Refinance / Rules / Stress Test / Uncategorized

Mortgage due for renewal soon? Do you stay or do you go?

The days are gone where homeowners would commit for life to only one mortgage lender. If your mortgage is due for renewal soon, you may want to start thinking about what you’re going to do when your mortgage term ends. While you could renew with your current lender, you may be missing out on potential mortgage interest savings or better … Continue reading

Is a second mortgage right for you?
Broker vs. Bank / Credit / credit help / Helpful Tools / Income / mortgage / mortgage rule changes / payout penalty / Qualifying / Rates & Terms / Refinance / Rules / second mortgage / Second Mortgage Options / Stress Test / Uncategorized

Is a second mortgage right for you?

I don’t mean a second mortgage as in getting a mortgage on a second property; in this case I’m talking about a 2nd mortgage behind an existing 1st mortgage secured against the same property. Second mortgages aren’t for everyone so I’m going to highlight what I think are the top 10 points you should know … Continue reading

Helpful hints on how to save for a down payment to buy a home
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Stress Test / Uncategorized

Helpful hints on how to save for a down payment to buy a home

As a mortgage broker for the last 15 years and 20 years before that as a banker, I have heard from many people over the years who say they are tired of renting. A common statement is “I can easily make a mortgage payment because I am paying at least that amount in rent but … Continue reading

Now, more than ever, you need a Mortgage Broker on speed dial!
Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

Now, more than ever, you need a Mortgage Broker on speed dial!

Whether you’re looking to buy your first home or refinancing your rental property, the mortgage landscape is far different than it used to be due to all of the mortgage changes. Based on many years of mortgage underwriting experience while working with the banks for 20 years and as a Mortgage Broker for the last … Continue reading

Have questions about the most recent announced mortgage change?
Downpayment / Helpful Tools / Insurance / Lenders / Market Updates / mortgage / mortgage rule changes / Purchase / Qualifying / Refinance / Rules / Stress Test / Uncategorized

Have questions about the most recent announced mortgage change?

The MortgageGirl has answers! Once again, the Office of the Superintendent of Financial Institutions (OSFI) recently introduced new rules on mortgage lending to take effect January 1,2018. OSFI is setting a new minimum qualifying rate, or stress test, for uninsured mortgages (mortgages with down payments of 20% or greater than their home price). There has … Continue reading