Mortgage Corner

One of the biggest aspects of a mortgage is figuring out the best lender. Since every file is unique, a good mortgage broker will likely tell you there’s no “best” lender. Instead, it will be those unique qualities in your mortgage that will determine which lender you’re going to use. In a typical mortgage, there…

People mistakenly believe once they’ve been pre-approved or approved by a lender it’s all done. But what they don’t realize a lender may pull their credit 30 days prior to close. They also don’t realize lenders can request updated documents in that time. And, if some of the original information that got you the mortgage…

Most homebuyers, when it comes to their financing, want the best rate possible. And that usually means turning to either the big banks, credit unions, or monoline lenders. In the mortgage business, these lenders a typically called, “A” lenders. If you’ve got good credit, a good job and decent down payment, you’re probably looking at…

You could say a mortgage has a personality. While it might seem like an unusual way to describe what is basically a financial transaction, it’s actually apt. Mortgages do have personalities. That’s because there are so many details and aspects to any mortgage. And if you’re about to sign on the dotted line, it’s important…

For some people, just owning one property and having a single mortgage is enough to handle. But for others, homeownership can be a gateway to owning multiple investment properties. You might be thinking: there’s no way I can turn the value of my modest home into a real estate empire. Ok, maybe not an empire,…

Self-employed Canadians will be happy to hear that CMHC is willing to make some changes that will make it easier to qualify for a mortgage. In an announcement on July 19, 2018, the CMHC has said “Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond to that reality by making…

According to a recent report from the Canadian Mortgage and Housing Corporation, nearly two-in-five homeowners in Canada used a broker for their mortgage in 2017. The 39 per cent figure was an increase from 33 per cent the previous year. The percentage is even higher among first-time home buyers. Why are more and more people…

Does this situation sound familiar? You’ve found your forever home. You’ve been approved and completed all your mortgage paperwork. You think you’re done and now you want to buy a whole bunch of furniture for the new abode. Perhaps you’ve been eyeing a new car or even a new job at the same time. It…

It’s hard to look past what’s right in front of you. That can be said for a lot of things in life, including a mortgage. So it should come as no surprise that roughly 6 in 10 homeowners with the standard five-year fixed rate mortgage break their terms within three years. There are those who…

Does your credit score keep you up at night? For some, this one detail in their life doesn’t pop up in their mind very much, because they know they’re making good money and paying all the bills on time. When you’re in that boat, it feels pretty good. But when you miss a payment or…