Category: Mortgage Tips & Advice

Knowing the Lingo – Key Terms for Your First Mortgage

The mortgage process can be overwhelming. Knowing the key terms that are part of it can help reduce confusion and help guide your first conversation with your mortgage broker. Amortization Length of time over which the mortgage will be repaid. Mortgage Term Length of time that the mortgage contract conditions and interest rate is fixed…. Read more »

Knowing When to Refinance

People refinance their mortgages for a number of different reasons, and it can be a great way to help with your financial goals. Whether it is to consolidate debt, get a better interest rate, or take out equity from your home, knowing when to refinance is an important step in the process. Good timing for… Read more »

Supporting Documents for Self-Employed Mortgage Applicants

Thanks to Pino Decina at HomeTrust for his post on Self-Employed Mortgage Applicants. See the original post here. The Canadian workforce is expected to undergo a revolution in the coming years and it is anticipated this will result in more workers being categorized as “self-employed”. Whether operating a small business or working on a contract… Read more »

The Mortgage Process: What Happens after the Approval?

You’re approved! Congratulations, you are on your way to owning a new home, or perhaps refinancing your current home. While for some people getting approved for a mortgage is the hardest part of purchasing a new home, for others the hardest part is actually once the approval is obtained. There are steps after the approval… Read more »

Making Subject Free Offers Stress Free

Subject free offers are increasingly needed to ensure you are the successful bidder in today’s red hot Real Estate market.  For many clients, this adds another level of stress and uncertainty in what can be an already stressful set of circumstances. While never an ideal situation, there are ways to mitigate the inherent risk of… Read more »

Monoline Lenders: The Un-Banks

As mortgage brokers, we work with a variety of lenders to find a fit for our clients financial needs. What many people don’t know is that the big banks only provide about 50% of all mortgages in Canada. Naturally you may wonder who makes up the other half, and the answer is monoline lenders. A… Read more »

Benefits of Consolidating Your Loans, Using the Equity in Your Home

According to CIBC, for the sixth straight year, 26% of Canadians consider paying down debt and keeping up with their bills to be their top financial priority in 2016. With debt continuing to be a concern for many Canadians, it can be difficult to pay down multiple credit cards and loans. Instead of multiple payments,… Read more »