First-Time Buyer
Why you should get a Mortgage Pre-Approval!
So you are ready to buy your first home, now what? Your first step should definitely be to obtain a mortgage pre-approval, but don’t get that confused with a “Pre-Qualification”.
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Equity Take-Out
Tips for Credit
Most adults have several different types of debt; Credit card, car loan, line of credit, and the biggest one, your mortgage. There is nothing wrong with this, but we have to be careful to use these credit lines properly, to know what the product is, and whether you are getting the best product for your needs.
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First-Time Buyer
Prepare to Apply for a New Mortgage, or to Refinance an Existing Mortgage
These suggestions can help you avoid the stress and blockades that many borrowers have faced along the route to approval.
If you don’t already know, getting pre-qualified is always the very first step that should be taken! However, even before the per-qualification, you need to make sure you have all your ducks in a row! (more…)
Equity Take-Out
New Stress Test Guidelines for Insured Buyers
As of January 1st 2018, Canada’s Uninsured home buyers will be required to qualify for their mortgage with an interest rate of the greater of the Bank of Canada (BOC) Rate, or 2% higher then the contract rate. (more…)
Equity Take-Out
What Happens to your Marital House when you Divorce?
If you happen to be going through a separation or divorce, you need to be aware that there are mortgage products designed specifically to allow you to refinance your home in order to buyout your, soon to be ex, spouse. (more…)
Equity Take-Out
Why is it Important to Know About Debt Consolidation Options?
Debt consolidation refers to taking all your separate debts and creditor and putting them into a single loan. Making it easier for borrowers because it there is only one payment, less interest paid on each dollar, strengthens credit scores, and simplifies the repayment process.
A debt consolidation loan’s terms will depend on your credit score (the better your credit score, the better the interest rate), amount of debt, and type of loan taken.
Debt consolidation loans come in many forms and cover consolidating many types of debts.