The Blog

There are some substantial changes arriving on January 1, 2018 that will make it more difficult for anyone looking to purchase or refinance their property with 20% or more down payment or equity. FICOM is implementing a rule change that make it so when anyone in Canada looking for financing at 20% and above equity would need to qualify under …

I am going to go over different credit scores and what they mean and what type of banks or programs they would fit. Credit is more important now than ever before as Equifax and Transunion changed how they calculate your credit score last year with very good credit getting even higher and not so great going lower in most cases. …

Hey everyone, I know I am a little late to the party on this one but its taken a while to figure out exactly what BC Housing wants when a client submits to them as they are very picky and also the best ways to position this at lenders. Here is the purpose of the BC Home loan from their …

Being a mortgage broker I have seen a lot of people with no credit, damaged credit or just starting to build their credit. It is never easy to build your credit when first starting out and it can sometimes take years to establish even a little bit of credit. I will go over some of the best credit habits and …

I am going to share about how banks like to see your mortgage down payment and what they will or will not accept. It sounds simple; show them your bank statements and everything is good to go. Not so much. The banks are very specific on what they want to see depending on how you have obtained your down payment. …

I am going to talk about mortgage bridge loans, used for buying another property before your current property sells. Bridge loans are typically used to cover your down payment for a new property before your current property selling. The cheapest option fee-wise from the bank is for you to sell your house and have a two or three day period …

Canada seems to be a pretty attractive place to live, which means we have a lot of people moving here from other countries. Luckily we have a mortgage program to fit that situation and help these newcomers purchase a home here. There are two main types of mortgages for new-to-Canada clients. They are an insured mortgage, and a conventional uninsured …

If you haven’t heard yet, there were some big changes to the way anyone with less than 20% down payment qualifies for mortgages as of October 17, 2016. The main change is that anyone who is getting a mortgage with default insurance will now have to qualify at a rate called a Benchmark rate, which is currently 4.64%. You would …

Part Time Or Variable Employment Hello there, With this blog I will be going into what the banks will allow and require in regards to someone being employed part time or with a variable income. Part time and variable income can be two very different items. Part time income could be casual work picking up as many hours as you …