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

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

Mortgage Payout Penalties
Broker vs. Bank / Documents / Lenders / Mortgage Renewal / Pre-Payment / Rates & Terms / Refinance / Rental Properties / Variable Interest Rates

Mortgage Payout Penalties

What you need to know You may not hear about a payout penalty until you want to break your mortgage term early, then you could be surprised by the figure you are quoted by your existing lender. Be prepared by understanding how your penalty is calculated before you make a decision to pay out your … Continue reading

How To Get A Mortgage
Credit / Documents / Downpayment / First Time Home Buyer / Lenders / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Refinance

How To Get A Mortgage

The Mortgage Process in 10 Steps Taking on new debt like a car loan, a new credit card or a small line of credit is pretty easy. It usually takes minimal income documentation, some discussion of interest rate and a signature or two on the dotted line. Qualifying for a mortgage to purchase a home … Continue reading