Do you have your documents ready?
Bankruptcy / Credit / Documents / Downpayment / Lenders / Purchase / Rates & Terms / Rental Properties

Do you have your documents ready?

Proper paperwork preparation can save you time and get your mortgage approved faster When it comes to applying for a mortgage, this is the second question I hear the most often, after ‘what is your best rate?’ As not every mortgage is alike, neither are all the requirements. Having said that, there are some documents … Continue reading

How To protect yourself from mortgage fraud
Credit / Documents / Downpayment / Lenders / Purchase / Rental Properties

How To protect yourself from mortgage fraud

Mortgage fraud is a crime that affects both lenders and borrowers. It can negatively affect credit scores, raise insurance premiums, increase document requirements, waste time and money and cause stress for honest borrowers looking for financing. There are a few actions you can take to protect yourself from becoming a victim of mortgage fraud; the … Continue reading

Read This Before You RENT-TO-OWN
Bankruptcy / Credit / Debts / Downpayment / First Time Home Buyer / Pre-Approvals / Purchase / Qualifying / Rental Properties / Rules

Read This Before You RENT-TO-OWN

The new mortgage rules may have some borrowers exploring home ownership alternatives, one being a “rent-to-own” option. You may have heard about doing a rent-to-own for furniture, appliances or electronics, well, it applies to home ownership too. It’s not too common, so I believe it’s important to be well informed before you enter into any … Continue reading

7 Signs a line of credit is right for you
Credit / Debts / Downpayment / Income / Mortgage Renewal / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Variable Interest Rates

7 Signs a line of credit is right for you

I was speaking with a friend who recently switched over from a mortgage to a line of credit product; she was surprised she hadn’t done it sooner. It got us talking about the differences between the typical mortgage product and a home equity line of credit. While both have advantages, the line of credit can … Continue reading

How to finance a vacation home
Credit / Documents / Downpayment / Income / Insurance / Lenders / Purchase / Qualifying / Rental Properties

How to finance a vacation home

Before you go cottage shopping, let’s chat about the mortgage financing as it’s a little different than getting a mortgage for your primary residence. These types of properties have been affected by the mortgage insurance rule changes too, so now is a great time to review the basics of financing a vacation property or a … Continue reading

You can get a mortgage with no downpayment- but is it a good idea?
Credit / Downpayment / First Time Home Buyer / Lenders / Purchase / Qualifying / Refinance / Rental Properties

You can get a mortgage with no downpayment- but is it a good idea?

I have noticed “no downpayment” or “100% financing” used to be more common than it is now, though, it is still available with some lenders. Whenever I’m asked about it I think of the old adage, ‘just because you can, doesn’t mean you should’. Borrowing your downpayment in addition to qualifying for a mortgage can … Continue reading