Owning a home is considered to be a rite of passage for many Canadians. It symbolizes independence. You set the rules, make the decisions, take financial responsibility and invest in your future.   Renting doesn’t give you much control over the property. You are under the landlord’s mercy when it comes to following rules written […]

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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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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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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 […]

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There are many reasons why a mortgage application can be delayed or even worse, declined. A key tool banks rely on when identifying any concerns when giving a mortgage approval is your credit bureau.   A credit bureau is a history report of collected information from an individual’s borrowing and bill-paying habits. When applying for a mortgage, your […]

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