Selling Your Home Before Your Mortgage Term Ends
Posted on Apr 28, 2023 in Mortgages
There are a variety of reasons that you might choose to sell your home before the mortgage term ends. The most common reason is that you are moving to a new location or that your family situation has changed, with the addition of children or adult children moving out. In all these cases, your home no longer meets your needs, and you may want to bre...
How To Get a Mortgage When You’re Self-Employed
Posted on Oct 10, 2022 in Mortgages
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...
Key Things to Avoid After Applying for a Mortgage
Posted on Jul 26, 2022 in Mortgages
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...
This waiting period is perhaps one of the hardest parts of the...
How Do Mortgage Brokers Get Paid in Canada?
Posted on Jul 22, 2022 in Mortgages
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...
How Does Your Credit Score Affect Your Mortgage Interest Rate?
Posted on Jun 09, 2022 in Mortgages
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...
The Lowdown on Private Mortgages
Posted on Jun 06, 2022 in Mortgages
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...