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

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

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

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

Do you know the right way to fill out a mortgage application?
Credit / Debts / Documents / Income / Lenders / Purchase / Qualifying / Rental Properties

Do you know the right way to fill out a mortgage application?

The mortgage credit application is a very important document as it’s the foundation on which the rest of the financing is built. This document is referred to when preparing the applicant for approval and used to determine what kind of supporting paperwork may be requested. This article isn’t about the strength of the application; instead, … Continue reading

How to successfully sell & buy a home at the same time
Downpayment / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules

How to successfully sell & buy a home at the same time

Tips for smoothly navigating two home transactions simultaneously You own a home now, but it’s time to make a change. If you’re moving up or downsizing, you probably have questions about how it all works. That is, the logistics of buying another home while you still own your existing property. Here are 10 facts you need … Continue reading