The following is a list of items you want to avoid doing when you are starting the process of applying for a mortgage.
1. Don’t apply for any new credit; Applying for credit will lower your credit score. You will lose a few points off of your rate and will also potentially change your borrowing ratios.
For many people, carrying debt on high interest credit cards, student loans, car loans or personal loans is a reality. But it doesn’t have to be. (more…)
The great news for first-time buyers is that the government has various grants that you can take advantage of. If you are buying a home for the first time, here are some of the grants that could be available to you; (more…)
Being self-employed or a business owner means that you have a different set of guidelines for obtaining mortgage funds. Due to write-offs a lot of us show less income on our final government documents then we actually made; this can make your mortgage application and approval more complicated. (more…)
If you have had your home for a few years and have watched it appreciate in value, why not make that equity work for you? (more…)
Renewing your mortgage should be easy, right? Absolutely, but there are factors to consider before signing on the dotted line.
Most people tend to just sign back the mortgage offer given to them by their existing mortgage lender, however, that may not be the best offer available to you. In fact, a study done by the Bank of Canada indicates that those borrowers who switched lenders at renewal, typically saved more money than those who remained loyal to their existing lender. (more…)