Rent-to-Own
Credit / Documents / Downpayment / First Time Home Buyer / Lenders / New to Canada / Purchase / Qualifying / Rental Properties

Rent-to-Own

What you need to know You may have heard about doing a rent-to-own on furniture, appliances or electronics, but did you know it applies to homes too? It’s not common, though it’s still around, so it’s important to be well informed before you enter into any type of Rent-to-Own Agreement. As a mortgage professional, we … Continue reading

Credit / Debts / Downpayment / First Time Home Buyer / Lenders / Market Updates / New to Canada / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

New Mortgage Rules: Summary & Commentary

The official announcement came out June 21st that mortgage rules are changing effective July 9, 2012. Below is a summary of the new mortgage rules coming into effect as well as a commentary on the affect the New Mortgage Rule announcement have had on the mortgage market so far. These new mortgage rules are only … Continue reading

Debts / Downpayment / Market Updates / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Important New Mortgage Rules taking affect July 9th

Ottawa announced new rules this morning that will affect mortgage applications submitted after July 9th, 2012. At this time, the new rules are only affecting insured mortgages, which is the case if you have less than a 20% downpayment. If you have any questions on how the new rules will affect you, contact The MortgageGirls … Continue reading

Credit / Debts / Documents / Downpayment / First Time Home Buyer / Income / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rental Properties

Meet Your New Best Friend: The Mortgage Pre-Approval

A Mortgage Pre-Approval is when your Mortgage Broker will submit your application to a lender for approval prior to you purchasing a home. The lender will then take a preliminary look at your mortgage application and advise you are pre-approved up to a certain purchase price. A pre-approval is not a binding commitment, but rather … Continue reading

Broker vs. Bank / Credit / Debts / Documents / First Time Home Buyer / Mortgage Renewal / New to Canada / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rental Properties

The mortgage process in 5 steps

  1. Talk to the MortgageGirls We will ask a series of questions relating to your family income and assets, the size and source of your down-payment as well as your other monthly debts. This will allow us to determine your financial profile so we can then discuss purchasing a property and your borrowing goals … Continue reading