Credit / Documents / Lenders / Market Updates / Pre-Approvals / Purchase / Qualifying / Rates & Terms

Pre-Approval Do’s & Don’ts

For any homebuyer, a pre-approval is a good idea. It not only holds an interest rate for up to 120 days which is a good thing right now given rates are increasing, it also confirms you CAN qualify for a mortgage and determines what amount you qualify for. It is important to know that a … Continue reading

Broker vs. Bank / Credit / Documents / Insurance / Lenders / Market Updates / Mortgage Renewal / Pre-Payment / Qualifying / Quizzes / Rates & Terms / Refinance / Rental Properties

Does your mortgage need a check-up?

Rates are on the rise, more mortgage rule changes may be coming and home sales have slowed down. There are multiple reasons which may warrant an audit of your existing mortgage details. Take the quiz below to determine if you need to consult a mortgage professional about a mortgage check-up. 1.     Is your … Continue reading

Broker vs. Bank / Credit / Insurance / Lenders / Market Updates / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance

8 Mortgage Myths Debunked

Mortgages are not a subject we learn about in high school, although I wish they were. Credit, interest rates and qualifying for a mortgage are all things that will affect your lifestyle going forward. So where is one supposed to learn about this stuff? Some hear about them through friends or family, or maybe through … Continue reading

Debts / Downpayment / First Time Home Buyer / Insurance / New to Canada / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

This or That

Deciding is hard, here’s help! We often receive inquiries from potential borrowers just looking for some preliminary pointers about all of the mortgage options available to them. We usually start out with a discussion about their specific mortgage requirements and home ownership goals as nothing replaces a custom solution. However, if they are not really … Continue reading

Mortgage Renewal / New to Canada / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Variable Interest Rates

Fixed Rate vs. Variable Rate

It’s the age-old question that every mortgage professional will hear many times in their career. With the exception of the last year or so when fixed rates were at an all time low, I have always preferred variable rate terms over fixed.  And given the recent significant increases in the fixed term rates I am … Continue reading

Documents / Income / Mortgage Renewal / Purchase / Qualifying / Refinance / Rental Properties

Qualifying for a mortgage while you’re self-employed

There is no denying that the mortgage borrowing landscape is changing. One of the product lines that saw repeated revisions was the self-employed mortgage niche.  In the mortgage world, you are self-employed if you own a portion or all of the business you derive your income from. Self-employed status can also include contract employees who … Continue reading

Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Insurance / Lenders / New to Canada / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Mortgage Lender Types

The Lender Alphabet The ABC’s of Mortgage Lenders         I often talk about alternative lenders in my articles so this week I want to discuss the different types of mortgage lenders a borrower may encounter when looking for mortgage financing. I look at the lenders as fitting into the A, B or C category. … Continue reading