Breaking Down the 5 C’s of Credit

The 5 C's of credit will help determine if you can get a mortgage

To qualify for a mortgage, a borrower needs to meet specific criteria known as the five C’s of credit. This process weighs five characteristics of a borrower and tries to evaluate the likelihood of default on a mortgage loan. The five C’s of credit are capacity, capital, collateral, credit history, and character. Capacity measures a borrower’s ability to make […]

Spring Home Buying Season

Spring market

Spring has sprung and sunny days have begun. This time of year marks the start of the busy home buying season. If you are a potential home buyer looking to purchase a new home this spring, keep in mind it’s not just about finding the perfect property. It’s also about finding the perfect mortgage that […]

Changes During a Mortgage Pre-approval

Changes During a Mortgage Pre-approval

Once you’ve applied for a mortgage pre-approval, don’t make any major changes or significant purchases without speaking to your mortgage broker first. Your mortgage pre-approval is based on your current job, credit, savings, and expenses. Changing any one of these factors could affect or even void a mortgage pre-approval. Are you thinking of buying a […]