Should I renew my mortgage early?
Credit / Debts / Documents / Income / Lenders / Mortgage Renewal / Qualifying / Rates & Terms

Should I renew my mortgage early?

The quick answer is, it depends on why. If you plan on staying with the same lender and you’re worried rates will be higher when your actual renewal date is here, then yes- renew your mortgage early. BUT, before you do that, ensure you’re aware of the other options available to you. Not shopping around … Continue reading

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

How does mortgage insurance work?
Downpayment / First Time Home Buyer / Insurance / Lenders / New to Canada / Purchase

How does mortgage insurance work?

If you have a mortgage, you have been offered mortgage life and disability insurance, probably more than once! This is different than the high-ratio mortgage insurance required when you have less than 20% downpayment (Read more on that type of insurance HERE). Whether you went through a bank or worked with an independent Mortgage Specialist … Continue reading

Do you know the right way to fill out a mortgage application?
Credit / Debts / Documents / Income / Lenders / Purchase / Qualifying / Rental Properties

Do you know the right way to fill out a mortgage application?

The mortgage credit application is a very important document as it’s the foundation on which the rest of the financing is built. This document is referred to when preparing the applicant for approval and used to determine what kind of supporting paperwork may be requested. This article isn’t about the strength of the application; instead, … Continue reading