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

Picking the perfect mortgage payment
Credit / First Time Home Buyer / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Rates & Terms / Variable Interest Rates

Picking the perfect mortgage payment

Qualifying for a mortgage is not what most homebuyers consider the most exciting part of the purchasing process, so the quality of the mortgage payment may not be high on the usual list of priorities. While you’re busy researching interest rates and looking at potential homes, I will cut down on your screen time by … Continue reading

When is the right time to refinance?
Bankruptcy / Credit / Debts / Documents / Lenders / Mortgage Renewal / Qualifying / Quizzes / Rates & Terms / Refinance

When is the right time to refinance?

If you are stressed about the amount of debts you have or mortgage payment amount(s) you are currently making, it may be time to look at refinancing your home as rates are still low and Edmonton has a stable housing market.  If you’re unsure if it makes financial sense to restructure your current mortgage, a review of … 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

What paperwork will I need to get a mortgage approval?
Credit / Documents / Downpayment / First Time Home Buyer / Lenders / New to Canada / Purchase / Refinance

What paperwork will I need to get a mortgage approval?

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 that every mortgage approval requires and below is a list of the most … Continue reading

8 Mortgage tidbits you might not know
Credit / Debts / Documents / First Time Home Buyer / Income / Pre-Payment / Purchase / Qualifying

8 Mortgage tidbits you might not know

This week I want to share a few of the less talked about mortgage topics, the ones that don’t usually come up until you have already started into the mortgage process. Keep in mind a good portion of this information is based on my own thoughts and experiences and should not replace the benefits of … Continue reading

Mortgage Payment Basics
Debts / First Time Home Buyer / Income / Lenders / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Variable Interest Rates

Mortgage Payment Basics

  I’m sure you know what a mortgage payment is; a scheduled repayment plan for the mortgage you’ve obtained on a property. Now let’s look deeper into what a mortgage payment amount actually includes, how payments can vary, and how you can use your mortgage payments to reduce your mortgage principal quicker. I will try to cover … Continue reading

I Now Pronounce You Happily Mortgaged
Credit / Debts / Documents / Downpayment / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance

I Now Pronounce You Happily Mortgaged

Okay, maybe that is not the first thing that comes to mind immediately following engagement. If you have marriage on your mind, it’s more likely that you’re probably also thinking about where you’re going to live when you begin your life together. If buying a home versus renting is the direction you would like to … Continue reading