If you buy a property with a down payment of less than 20% of the purchase price, that mortgage must be insured with mortgage loan insurance.
Read MoreFor the first time since 2018, the Bank of Canada recently hiked the overnight interest rate to curb inflation and cool the real estate market. With increasing interest rates many variable mortgage holders are considering switching to a fixed rate.
Read MoreWhen obtaining a mortgage, there is always the question of a fixed or variable interest rate. There are pros to cons to both types, which we will explore below.
Read More10 most common mistakes people make when they're about to close on a house.· 1. Making large purchases · 2. Changing jobs · 3. Fall behind on credit card payments
Read MoreOne of the most important decisions you will make when buying a home is what type of mortgage to get. There are a lot of reasons to work with a Mortgage Broker when you’re buying or refinancing a home. To help you understand just how valuable your broker can be, we compiled a list of 8 reasons to use a Mortgage Broker.
Read MoreUsing mortgage prepayment options can drastically reduce the total amount of money you spend on your mortgage – and shorten the time it takes to pay it down! If you follow these three steps, you can be mortgage free sooner than ever!
Read MoreAs a mortgage professional, clients often ask my opinion about how an upcoming renovation will affect the value of their home. Here is a short article outlining my thoughts…
Read MoreYou have word from your agent letting you know you are pre-approved for a mortgage. This is an exciting time as you are well on your way to purchasing a new home. A preapproval is usually good for 60 to 120 days depending on the lender. If you do not purchase a home within this time frame, the lender may require you to get preapproved again. Therefore, it is important to continue the great behavior that got you the preapproval, in the first place. Below are eight tips to help keep your financial situation preapproval ready.
Read MoreThis is a question that many people ask when they are considering purchasing a home. When you're buying a house, it's important to understand all of the costs involved. These costs can add up quickly, so it's important to be prepared.
Read MoreMany Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But this is not true.
Read More