How To Get a Mortgage When You’re Self-Employed

Posted on Oct 10, 2022 in Mortgages

How To Get a Mortgage When You’re Self-Employed

Despite the coronavirus pandemic leading to a so-called Great Resignation that has produced a labour shortage in North America and Europe, fewer Canadians are embracing entrepreneurship, bucking the growing trend south of the border. Before the global health crisis, there were close to 2.9 million self-employed Canadians. Today, Statistics Canada d...

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Key Things to Avoid After Applying for a Mortgage

Posted on Jul 26, 2022 in Mortgages

Avoid overspending when applying for mortgage

You’ve assessed your finances and the housing market, and researched the various financial options open to you and your household. Then, you took the leap in applying for a mortgage – quite possibly the most significant money-related decision of your life. Now you play the waiting game.

This waiting period is perhaps one of the hardest parts of the...

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How Do Mortgage Brokers Get Paid in Canada?

Posted on Jul 22, 2022 in Mortgages

How do mortgage brokers get paid

When purchasing a home, one of the first steps is finding out just how much mortgage you can afford. The mortgage amount is determined on several factors, such as how much debt you carry, what your income level and if you pass the mortgage stress test. Prospective buyers often consult with a number of lenders to find the best mortgage rate availabl...

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How Does Your Credit Score Affect Your Mortgage Interest Rate?

Posted on Jun 09, 2022 in Mortgages

How Does Your Credit Score Affect Your Mortgage Interest Rate

It takes credit to build credit ­– most of us have heard this at some point in our early years of adulthood. Some of us heard it when we got our first credit card; others when they went to apply for a loan of some type and realized they didn’t have a credit score. The crux is that while it takes credit to build credit, it also takes credit to destr...

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The Lowdown on Private Mortgages

Posted on Jun 06, 2022 in Mortgages

private lenders

Some prospective homebuyers are turning to private mortgages in this red-hot Canadian real estate market. A private mortgage is a home mortgage from a private individual or company that is not a federally regulated financial institution. In an environment of historically low-interest rates and strengthening demand for limited residential properties...

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5 Reasons Why You Should Get Pre-Approved for a Mortgage

Posted on Apr 07, 2022 in Mortgages

Pre-Approved for a Mortgage
Buying a home for the first time is an exciting experience. While the process can be stressful at times, there are ways to limit unnecessary anxiety, and one of the most significant ways is to get pre-approved for a mortgage before you begin your house-hunting adventure.

To put it simply, being pre-approved for a mortgage means that a lender says yo...

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