Mortgage Tips

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Tips for Getting Your Mortgage Approved

TIPS FOR GETTING YOUR MORTGAGE APPROVED Applying for and getting your first mortgage can be slightly intimidating for anyone. However, you can avoid a number of the more stressful points and improve your chances of being approved by being prepared. By going into the application process knowing what lenders are looking for and knowing how [...]

By |2018-12-21T20:03:19+00:00December 21st, 2018|Mortgage Tips|0 Comments

Home ownership for landed immigrants

Home Ownership for landed immigrants in the past, you would have needed 35% downpayment for a mortgage. Now there is a special program for landed immigrant, you can now purchase your new home with as little as 5% downpayment. A recent research by Genworth Canada shows that more than half the immigrants end up purchasing [...]

By |2018-12-21T20:29:45+00:00June 5th, 2018|Mortgage Tips|Comments Off on Home ownership for landed immigrants

What you need to know before buying a Home

Many first-time home buyers are surprised to discover just how many ways you can mess up the home financing when buying a home. You may received your pre-approval, found a home you loved and made an offer. But if you want to avoid messing up the transaction, you will need to be extremely careful until the sale [...]

By |2017-12-07T20:44:47+00:00December 7th, 2017|Mortgage Tips|Comments Off on What you need to know before buying a Home

New Measures to Cool Red-Hot Property Market

The Canadian Real Estate Association (CREA) recently reported that February home sales across Canada rose 5.2 percent on a month-over-month basis to reach a level that’s just 0.8 percent below the highest peak ever seen in April 2016. There have been reports on the likelihood of policy intervention by different levels of government to address [...]

By |2017-03-23T18:31:45+00:00March 23rd, 2017|Economy, Mortgage Rules, Mortgage Tips|Comments Off on New Measures to Cool Red-Hot Property Market

Complex mortgage rules boost value of mortgage brokers

More complex mortgage rules boost the value of mortgage brokers.  The last quarter of 2016 brought considerable change to Canada’s residential mortgage business. In October, the Department of Finance Canada announced new mortgage rules that have had a tempering effect on the market. Then, in late December, the Office of the Superintendent of Financial Institutions [...]

By |2017-02-08T16:03:17+00:00February 8th, 2017|Mortgage Rules, Mortgage Tips|Comments Off on Complex mortgage rules boost value of mortgage brokers

Latest Mortgage Lending Rule In Effect Oct 17

How does the latest mortgage lending rule affect you? The federal government introduced a new mortgage rate stress test for all insured mortgages effective Monday October 17th creating a new challenge for potential homebuyers in Canada. Essentially the new regulation is aimed at protecting the financial wellbeing of Canadians to support the stability of the [...]

By |2017-01-04T00:58:49+00:00October 18th, 2016|Economy, Mortgage Tips|Comments Off on Latest Mortgage Lending Rule In Effect Oct 17

How important is it to choose the right mortgage term?

Have you considered how important is it to choose the right mortgage term? Buying a new home is probably the most important decision most Canadians make. This means you will most likely look for a new mortgage.  When choosing a mortgage, you need to consider many factors. If you get the wrong combination, you may [...]

By |2017-01-04T00:58:49+00:00June 13th, 2016|Mortgage Tips|Comments Off on How important is it to choose the right mortgage term?

Why a Lowest Mortgage Rate Is Not Always the Best Rate for You?

Mortgage interest rates are always a subject of rivalry among lenders in Canada. This war has continued this year with a leading Credit Union announcing a 1.69% fixed rate mortgage a couple of months ago. According to experts, this could be the lowest one-year fixed rate available. You can expect other players to follow suit [...]

By |2017-01-04T00:58:49+00:00May 9th, 2016|Mortgage Products, Mortgage Tips|Comments Off on Why a Lowest Mortgage Rate Is Not Always the Best Rate for You?

Why use a Mortgage Broker?

Mortgage rates have been on a record low in Canada, this may be a good time to take advantage. Many Canadians still turn to their local banks for mortgage advice. Although banks have different great mortgage products, they don't always suit everyone's requirement. This is where your mortgage broker could offer an ideal alternative. A recent [...]

By |2016-04-05T17:35:59+00:00April 5th, 2016|Mortgage Products, Mortgage Tips|Comments Off on Why use a Mortgage Broker?