Mortgage Renewal

Is it time to renew your mortgage?   Learn what a mortgage renewal entails and what you should do before signing on the dotted line.   3-6 months before your mortgage term is complete, most lenders will send you a mortgage renewal notice in the mail. The notice will ask you to check a box to […]

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Drowning In Debt

More and more Canadians are drowning in debt. The increased household debt in Canada has become a favourite topic in the media. I’m sure you’ve seen many of the statistics in the news lately and read about the stricter mortgage rules the government implicated. One way to move towards financial freedom is to get rid of […]

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Mortgage Declined

Just because the timing doesn’t work currently, doesn’t mean you have to lose hope about buying a home. Here are some common reasons people don’t receive mortgage approvals right away and ways to increase their chances of being approved for a mortgage in the future.   Start by asking why you didn’t qualify for the […]

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Ways to Fix your Credit Score

It is essential to fix issues on your credit bureau before applying for a mortgage. Here are some tips to improve your credit and increase your credit score. The best time to start working on your credit is now, 6-12 months before you apply for a new mortgage. If you’ve had severe credit challenges, it […]

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Pre-qualification vs Pre-approved for a Mortgage

Looking to get pre-qualified for a mortgage? Or wait, should you get pre-approved instead? If you are like most people, you find the two terms confusing. Not knowing the difference between being pre-qualified and pre-approved could cost you your new home!    Here is the difference: A mortgage pre-qualification allows a buyer to get an idea of what […]

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During the past few months, mortgage rates have been rising steadily. While this may have come as a shock to many homeowners and potential buyers, it’s the result of some relatively positive news. After years of wavering, the economy is showing signs of steady growth. This has caused investors to start worrying about inflation, so […]

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New "Stress Test" Mortgage Rules

The decision has been made by the Office of Superintendent of Financial Institutions (OSFI) to proceed with the mortgage rules they proposed earlier this summer. OSFI is an independent agency of the Government of Canada that reports to the Minister of Finance. It was created to contribute to public confidence in the Canadian financial system. OSFI is the sole regulator of […]

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