A stress test is mandatory for showing exactly how much room for error you can afford when it comes to making your mortgage payments.
What is a Canadian Mortgage Stress Test?
A stress test is mandatory for showing exactly how much room for error you can afford when it comes to making your mortgage payments.
Don’t Do This When Seeking a Mortgage!
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 … Read More
Why Do I Need an Appraisal?
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 … Read More
Is it Time for a Mortgage Checkup?
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 … Read More
How Will the New Mortgage Rules Impact My Buying Power?
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 … Read More
Purchase Plus Improvements Program
Purchase Plus Improvements Program You have been searching for a new home and have finally found one that you like. It’s right in your price range and all it needs is a few improvements. New floors, update the kitchen and bathroom, a coat of paint and it will be as … Read More
Your Credit Score – Why it is so Important for Your Mortgage Approval
The job of a Mortgage Professional is to provide our customers with unbiased mortgage options and professional financial advice. Knowledge of the lender guideline and and providing the best available interest rates is a very important part of our job. Giving professional financial advice on how to build and maintain … Read More
Home Equity Loans for Debt Consolidation, Is This Right For You?
What is a home equity loan? Equity is defined as the value of the home minus any debts that are owed. A home equity loan is a mortgage loan in which the equity in the home is used as collateral. So the consumer borrows against the equity in the home … Read More
Registered Retirement Savings For Use as Down Payment on Mortgage
Two out of three people living in Canada are homeowners. However, getting into a home can be expensive from the down payment to the closing costs. The Canadian government knows how hard it is to come up with the funds for a down payment for a home and they have … Read More
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