7 Jun

Paying off your Mortgage Faster

Mortgage Tips

Posted by:

Pre-Payment Privileges Depending on your lender it’s likely you have the option to make pre-payments up to a certain amount on your mortgage. Taking advantage of these pre-payment privileges means paying off your mortgage faster without being penalized. Pre-payment privileges can be used through increasing your regular payment or making lump sum payments. It’s important […]

Read More
1 May

3 Key Mortgage Qualifying Factors

General

Posted by:

When completing a mortgage application, there are 3 main factors that are looked at to ensure borrowers qualify. 2 of these factors are ratios helping determiner the borrower’s affordability and the 3rd factor is credit. Gross Debt Service aka GDS Gross debt service is a ratio that calculates the expenses of owning the home. This […]

Read More
1 Apr

Qualifying for your First Home & Mortgage

General

Posted by:

When buying your first home, there are key things that lenders are going to evaluate to help determine if they would finance your mortgage. Each lender and each insurer have specific criteria and regulated guidelines they must follow when lending you money for a mortgage.  Here are key things that are looked at! Credit & […]

Read More
27 Mar

Pre-Approval Expectation Vs. Reality

General

Posted by:

c Expectation of a Pre-approval  Many people believe having a pre-approval is the same as having a mortgage commitment or full approval, might as well have the keys and money in the bank! That is an understandable expectation because it is largely what is advertised and forced on many. The Reality of your Mortgage Pre-Approval  […]

Read More
1 Feb

4 things to Review when it’s time to Renew you Mortgage

Mortgage Tips

Posted by:

Since you signed your last mortgage commitment, what has changed? Probably a lot. Here are some key points to consider when your renewal period approaches! 1. Income Has your income or employment changed? New Employment? Promotions?  Demotions? Time off /disability income? If your employment or income has changed, this can affect you renewal options. 2. Debt  […]

Read More
3 Dec

Homeowners have Options: Refinancing

General

Posted by:

What is a ‘Refinance’? Refinancing is the process of obtaining a new mortgage to replace your existing mortgage while the purpose is to access equity in the home. Homeowners have the ability to access up to 80% of the equity in their home!   Why Refinance? There are several reasons why someone may want to refinance […]

Read More
1 Oct

4+1 Tips on Saving for your Down Payment

Saving

Posted by:

Saving for a down payment can be a struggle, follow these guidelines to help save effectively & efficiently! Prioritize Do you really want to buy a home? If you were hesitant with your answer, don’t take these tips to heart. If you answered yes faster than you have ever answered yes before, keep reading and […]

Read More