Mortgage Blog
Category: Advice for Borrowers (24 posts)
Understanding Insurance for Home Buyers and Borrowers
June 9, 2022 | Posted by: Ronice Harrison
Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! ...
read moreWatch Out For These Common Mortgage Traps
June 7, 2022 | Posted by: Ronice Harrison
We've all seen those enticing bargain mortgage rates around the internet... 'Get your mortgae at a 1.5% fixed rate!' Is this real, or too good to be true?The sad reality is that enticing 'bargain-bin' ...
read moreShould I Lock in my Mortgage Rate as Rates Start to Rise?
May 31, 2022 | Posted by: Ronice Harrison
With impending Bank of Canada rate increases occurring in the coming months, many are wondering if they should be locking in a mortgage rate or making a change to their mortgage. With the variable rat ...
read moreInvesting in a Vacation Property? Learn What You'll Need to Have to Get A Mortgage Approved
May 4, 2022 | Posted by: Ronice Harrison
With approximately one million people having purchased vacation homes in the last year, this type of residence is gaining popularity for those who are interested in a home in a beach setting or a vaca ...
read moreTax Rebates for First Time Home Buyers
April 21, 2022 | Posted by: Ronice Harrison
It can be a struggle trying to get a foothold in the housing market. Purchasing a home is very expensive, and not just due to the down payment you must acquire and present to the lender before they is ...
read moreHow to Get a Down Payment For a Home in Ontario
April 14, 2022 | Posted by: Ronice Harrison
If you’re hoping to buy a home sometime in the near future, odds are you’ll need to take out a mortgage to finance it. But even though you’re borrowing money to finance the propert ...
read moreLand Transfer Taxes for Every Canadian Provice
April 14, 2022 | Posted by: Ronice Harrison
When you buy a house, there are plenty of costs involved in the transaction aside from the purchase price. But one expense that many buyers may not be aware of is the Land Transfer Tax (LTT). E ...
read moreAlternative Mortgage Financing in 2022
April 7, 2022 | Posted by: Ronice Harrison
With the implementation of new mortgage rules in recent years, including the introduction of the mandatory mortgage stress test in 2018, it’s becoming harder and harder for aspiring homeown ...
read moreHow to Save for a Down Payment
April 5, 2022 | Posted by: Ronice Harrison
Buying a home, whether it’s your first or fifth, requires being prepared. This of course includes saving for a down payment. The down payment is the biggest frustration for Canadians look ...
read moreMinimum Down Payment Required for Mortgage Approval in 2022
March 31, 2022 | Posted by: Ronice Harrison
Understanding the ins and outs of down payments in Canada is one of the keys to smooth and successful mortgage approval. In this article, we will look at the most important things that you need ...
read moreTips on How to Improve Your Credit Score
March 24, 2022 | Posted by: Ronice Harrison
It’s clear that a good credit score is one of the most important factors when trying to get a mortgage. It also helps calculate the interest rate you’ll be given by your lender. So, havin ...
read moreMinimum Credit Score Required For Mortgage Approval in 2022
March 22, 2022 | Posted by: Ronice Harrison
If you live in Ontario, you may have noticed that it’s getting harder and harder to be approved for a mortgage loan. You need to have a number of factors in your favour, like your down payment, ...
read moreShould You Change Jobs While Shopping For a Home?
March 8, 2022 | Posted by: Ronice Harrison
Along with our red-hot housing market and historically low Canadian mortgage rates, another trending topic in the news and in conversations around the country is the recovery of the job market. While ...
read moreGet a Bad Credit Mortgage in Canada
February 24, 2022 | Posted by: Ronice Harrison
Even for Canadians that have low credit, or have been turned down by the major banks, mortgage lending options do exist. While you might not be able to qualify with a prime lender at the lowest possi ...
read moreWhich Is Better: Buying With Cash or Mortgage In Real Estate?
February 1, 2022 | Posted by: Ronice Harrison
Not every homebuyer is lucky enough to have the coveted choice between buying with cash or taking out a mortgage. The majority of people looking to buy a new home will simply go with the option of mor ...
read moreHow to Get a Mortgage with Zero Per Cent Down
January 27, 2022 | Posted by: Ronice Harrison
No money for a down payment? You might think you can't get a mortgage, but it could be possible! Let's see how you could borrow money for a down payment, and get your mortgage with zero per cent down. ...
read moreTop 10 Questions to Ask Your Mortgage Broker in Ontario
January 19, 2022 | Posted by: Ronice Harrison
Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces ...
read moreWhat to do if You Are Denied a Mortgage
November 24, 2021 | Posted by: Ronice Harrison
What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ...
read moreWhat Happens if You Lose Your Job Before Closing?
August 4, 2021 | Posted by: Ronice Harrison
A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not ...
read moreRisks of Putting Down a Firm Offer with a Pre-Approval Ontario
July 7, 2021 | Posted by: Ronice Harrison
Risks of Putting Down a Firm Offer with a Pre-Approval Today, the real estate market is competitive and homebuyers need all the help they can get to secure their home at the right price. Once you fin ...
read moreWhy Borrowers May Choose a Private Mortgage
February 25, 2021 | Posted by: Ronice Harrison
Why Borrowers May Choose a Private Mortgage When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options. However, the ...
read moreHow to Handle a Mortgage After a Separation or Divorce
February 10, 2021 | Posted by: Ronice Harrison
Mortgage Life After Separation and Divorce Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial conseq ...
read moreShould You Pay Off Your Mortgage Early?
March 13, 2020 | Posted by: Ronice Harrison
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will ex ...
read moreShould You Spend the Full Mortgage Amount You're Approved For?
February 14, 2020 | Posted by: Ronice Harrison
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...
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