The Blog

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 …

Building Your Credit Score Hello there again! I will be focusing on what most banks want to see for credit when you are applying for a mortgage for this blog.In most cases the banks will want you to have two sources of credit established for two years or more. When I say credit sources, what I mean is at least …

Having trouble getting a mortgage? When you are first getting a mortgage, are a student or transitioning to a new job and you just don’t fit the banks guidelines to get a mortgage you may have need of a cosigner. There can be many reasons as to why you need a cosigner on a mortgage and with the way banks …

People always ask me, “Why use a mortgage broker, or why would I use a mortgage broker instead of my bank?” While, that is a great question and I will answer it with examples of situations where a broker will be more useful than others. A mortgage broker becomes more useful the more complicated your situation is. For example, if …