Making sense of the new best mortgage rates
Broker vs. Bank / Downpayment / Lenders / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance / Rules

Making sense of the new best mortgage rates

Gone are the days when making a large down payment means you are rewarded with best mortgage rates due to recent Federal Government rule changes. What?!?! Prudent savers are now being charged higher, not lower rates! Read on to find out if you should buy now with a minimal down payment or keep saving. Within … Continue reading

Don’t be a victim of mortgage fraud
Credit / Documents / Downpayment / Lenders / Purchase / Qualifying / Rental Properties

Don’t be a victim of mortgage fraud

Mortgage fraud is a crime that affects both lenders and borrowers. It can negatively affect credit scores, raise insurance premiums, increase document requirements, waste time and money and cause stress for honest borrowers looking for financing. There are a few actions you can take to protect yourself from becoming a victim of mortgage fraud; the … Continue reading

10 Things You Need to Know About Second Mortgages
Credit / Documents / Lenders / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

10 Things You Need to Know About Second Mortgages

I don’t mean second mortgage as in getting a mortgage on a second property; in this case I’m talking about a 2nd mortgages behind an existing 1st mortgage for the same property.  Second mortgages aren’t for everyone so I’m going to highlight what I think are the top 10 things you should know about them … Continue reading

You can’t live in your car
Credit / Documents / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance

You can’t live in your car

When it comes to qualifying for a mortgage, the current debts you have affects the mortgage amount you can qualify for. I often see buyers who have worked hard to maintain a good credit score and saved up the downpayment. Then I have to tell them they don’t qualify at the price they want to … Continue reading

Broker vs. Bank / Documents / First Time Home Buyer / Income / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Is Your Income Eligible?

Income is one of the most important components of a mortgage application as it determines how the borrower is going to repay their loan. One of the most common questions we get asked is what kind of income is eligible to be used in the qualifying calculations. Your mortgage lender will want to first confirm … Continue reading