Questions to Ask a Mortgage Lender

Questions to Ask Your Lender

Here are some important questions that we recommend asking a mortgage broker before shopping for a new home. They will help find a lender that’s best suited for you and your unique needs. What are your qualifications as a mortgage lender? Ask your mortgage lender how long they have been doing mortgages for. The more […]

Buying a Starter Home

Buy a home that fits within your budget and is a good starter home.

Your dream home isn’t always within reach when it comes to buying a house for the first time. This can lead many first-time homebuyers wanting to wait and hold off for another year before going forward and making an offer on a place. But will you be chasing a dream forever? Should you wait and […]

Pre-Qualified vs Pre-approved for a Mortgage

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’re 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 they […]

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

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 […]

Do Your Homework and Get Pre-approved For a Mortgage

Shopping for a home

Shopping for a home without a mortgage pre-approval is like forgetting to do your homework. Good luck explaining to your real estate agent that your dog ate your pre-approval. Applying for a mortgage pre-approval is the first step when planning to buy a home. A lender will examine your financial situation to make sure that […]

New Mortgage Rules Coming to Canada Soon

New Qualifying Mortgage Rules

The Government of Canada announced new mortgage rules that will be coming into effect on October 17, 2016. The rules will directly impact those purchasing a home in Canada with less than a twenty percent down payment. Canadians applying for a default insured mortgage (high-ratio mortgage) will be required to qualify at the Bank of […]

Credit Bureau and Your Mortgage Approval

Credit Score

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 credit […]

Mortgage Interest Rates Are at an All-time Low

Interest rates are at an all time low.

You are probably thinking to yourself that you have heard this song and dance before. But this time it is more accurate than ever. With interest rates being at an all-time low, it makes for the perfect opportunity to buy a property and maximize your savings. Whether you are a first time home buyer or […]

Not All Mortgage Pre-approvals Are Created Equally

Not all Mortgage Approvals are Created Equally

Have you ever wondered what the qualification level of your mortgage advisor is? Their knowledge of mortgages can only come from experience. For this reason, not all mortgage pre-approvals are created equally. Why is this? When applying for a mortgage pre-approval, there is a formula that all lenders have to follow to determine what mortgage […]