Don’t Do This When Seeking a Mortgage!

Darcy DoyleBlog, Mortgage Tips

In today’s reality of tougher mortgage qualification rules, it’s even more important to pay attention to the little things that can make or break your chances of qualifying for a mortgage – or hanging on to your approval all the way through to closing. Did you know that it’s getting to be common practice for mortgage lenders and insurers to … Read More

Why Do I Need an Appraisal?

Darcy DoyleBlog, Mortgage Tips

Mortgage lenders request an appraisal for several reasons, but the main two are: 1) When you’re buying a new home; and 2) If you’re dipping into your home equity through a refinance on your existing mortgage. An appraisal is an unbiased expert opinion on the value of your home carried out by a third-party appraiser. It helps lenders ensure the … Read More

Is it Time for a Mortgage Checkup?

Darcy DoyleBlog

With spring only weeks away, now’s the perfect time to consider scheduling your annual mortgage checkup. It’s important to review your options every year to ensure you’re maximizing your savings. Spring’s a popular time for a refresh and it’s also the most common time of year to buy or sell property. There’s no charge or obligation when requesting a review … Read More

How Will the New Mortgage Rules Impact My Buying Power?

Darcy DoyleBlog, News and Events

The chances are fairly high that you’ve heard a lot in the news surrounding new mortgage rules that came into play on January 1st, 2018. If so, you’re probably wondering how these new rules will affect you when it’s time to make a purchase or renew/refinance your current mortgage. Lenders don’t have to apply the ‘stress test’ to borrowers who … Read More

How Do GDS & TDS Affect Mortgage Qualification?

Darcy DoyleMortgage Tips

December-Blog-Image-themortgageprofessionals

You’ve likely only come across ‘GDS and TDS ratios’ if you’ve previously applied for a mortgage. These calculations are used to determine what you can afford to pay towards homeownership costs based on your current income and debt levels. GDS – gross debt service – is the percentage of a borrower’s income that’s required to pay all monthly housing costs … Read More

What Does a Monoline Lender Have to Offer?

Darcy DoyleMortgage Tips

The-Mortgage-Professionals-Blog-What-Does-a-Monoline-Lender-Have-to-Offer-November-2017

You’ve likely only heard the term ‘monoline’ lender if you’ve had a mortgage with one and/or you’ve used a mortgage broker to negotiate home financing on your behalf. Although not as well known as banks and credit unions, monolines provide excellent mortgage solutions to meet the needs of a variety of different borrowers. While banks and credit unions provide an … Read More

Looking for Ways to Pay Your Mortgage Off Quicker?

Darcy DoyleMortgage Tips

The Mortgage Professionals-October-Blog-Image

Everyone dreams about their ‘mortgage burning’ date the day they become a homeowner. While mortgage debt will cost you the lowest interest rate among all debts, there’s a sense of freedom in being able to chip away at that principal balance and shorten the time in which it will take you to become mortgage free. After all, reducing your principal … Read More

What You Need to Know to Boost Your Credit Score

Darcy DoyleCredit Score, Mortgage Tips

The Mortgage Professionals-September-Blog-Main-Image

With the ever-changing mortgage requirements and rising interest rates, it has never been more important to ensure your credit is in tiptop shape before you head out home and mortgage shopping. Fewer people are fitting into the traditional banks’ financing boxes as easily as they may have just a year or two ago. But the good news is, The Mortgage … Read More

How to Transition from Renter to Homeowner Sooner

Darcy DoyleMortgage Tips

The Mortgage Professionals -August Blog Inside Image

Deciding to become a homeowner after renting is one of the biggest decisions you’ll make throughout your lifetime. Planning ahead by building a budget and saving before taking your first steps towards homeownership are key considerations for ensuring the transition is as stress-free as possible. Budgeting empowers you to look to the future and consider all of the associated costs … Read More

How to Use a Home Equity Line of Credit to Your Advantage

Darcy DoyleMortgage Tips

The Mortgage Professionals-second-picture

Having access to secured credit is a huge benefit to Canadians. The problem is, the media often sounds alarm bells concerning all types of credit – and frequently home equity lines of credit (HELOCs), in particular – roping it all into a giant debt cycle looming above all homeowners. In fact, we’re certain you have heard homeowners who access their … Read More