This upfront decision could save you thousands off your mortgage
Debts / Documents / Downpayment / Lenders / Mortgage Renewal / Pre-Payment / Refinance

This upfront decision could save you thousands off your mortgage

There are a few ways you could do this; utilize pre-payment privileges throughout the year to pay off your mortgage balance quicker, pay accelerated weekly or bi-weekly payments, or take a shorter amortization period. By making a decision upfront which focuses on faster mortgage repayment, not only can you save thousands in interest by shortening … Continue reading

Self-Employed? Here Is The Easiest Way To Get A Mortgage
Broker vs. Bank / Credit / Documents / Income / Insurance / Lenders / Purchase / Qualifying / Rates & Terms / Refinance

Self-Employed? Here Is The Easiest Way To Get A Mortgage

  Getting a mortgage when you are self-employed is different than applying when you are considered to be an employee. I suggest being prepared for the process by addressing some of the items below before you start looking for financing. Keep reading for the step-by-step guide to financing for borrowers who are business-for-self; Step One: … Continue reading

How to get declined for a mortgage
Broker vs. Bank / Credit / Documents / Lenders / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

How to get declined for a mortgage

I normally talk about how to get approved for mortgage financing so I thought I would change it up this week. Below you will find a list of 7 instances that could result in a decline, rather than the mortgage approval you were hoping for. Individually, not every point on the list guarantees a negative … Continue reading

Insurance / Lenders / Market Updates / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Mortgage Insurance Premiums are Increasing

What you need to know An announcement last week made by Canada Mortgage and Housing Corporation (CMHC) advised the mortgage insurance premiums will be increasing effective May 2014. This week, I want to highlight how those changes will affect a potential borrower looking for new financing. Although the updated premiums are expected to have a … Continue reading

Credit / Documents / First Time Home Buyer / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Quizzes / Rates & Terms / Refinance / Rental Properties

How strong is your credit application?

When it comes to borrowing money, we’ve come a long way from just a handshake to seal the deal. Now there’s an application process which includes meeting the qualifying guidelines, review and understanding of any terms and conditions, paperwork to sign, and more that goes along with getting approved for financing. Are you wondering how … Continue reading

Broker vs. Bank / Credit / Documents / Insurance / Lenders / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance

Self-Employed?

What to expect when getting a mortgage If you’re self-employed, be prepared for a long chat with your mortgage professional. This type of employment and the income confirmation requirements that follow differ from a borrower with traditional proof of income documents. This week, I want to outline what to expect from the mortgage process when … Continue reading

Documents / Insurance / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Buy & Renovate Right Away

How you can buy a home and include improvements in the mortgage! What you need to know about a purchase-plus-improvement mortgage: You find the perfect neighbourhood you want to live in and everything you need is close by, but you just can’t find the perfect home.  One has an awful looking bathroom, another has an … Continue reading