Establishing and Maintaining Good Credit

Matthew Jackson Mortgage Tips

You always hear about how important it is to have good credit. But, for a lot of people, they aren’t aware of how to get there. When you’re looking to buy a home in Canada, it’s crucial that you understand the importance of establishing and maintaining good credit.  In this blog post, I’ll explain what good credit looks like to …

Closeup of a hand holding a set of keys with a silver house keychain, highlighting the choice of securing a mortgage with a mortgage broker or bank

Mortgage Broker vs Bank – Who to Choose?

Matthew Jackson Mortgage Tips

Who should you go with for a mortgage, your bank or a mortgage broker? That’s the question I’ve been asked the most in the past eight years of being in business! I never get tired of answering it though because a lot of people don’t know the benefits of using a mortgage broker compared to just going with their bank.  …

young girl playing in a moving box while parents watch, after choosing the right mortgage broker in their home buying process

5 Things to Consider When Choosing Your Mortgage Broker

Matthew Jackson Mortgage Tips

Choosing the right mortgage broker is a huge decision during the home buying process. There are several big-ticket items that people should consider when deciding on who to use as their mortgage broker.  In this article, I’ll share 5 things to consider and share where I place on all of these as well.   1. Education and experience. When you …

model house on a wooden surface with wooden letter blocks that read 'stay home', in reference to missed mortgage payments and the covid-19 pandemic

Missed Mortgage Payments and Mortgage Deferrals 

Matthew Jackson Mortgage Tips

There has never been a good time to miss a mortgage payment. While Canadian lenders stepped up and offered mortgage deferrals to those affected by COVID-19, there are still homeowners unable to make their mortgage payments.  According to Canadian Mortgage Trends, one in 20 homeowners said they missed a recent mortgage payment due to the pandemic. The survey from Forum …

Scrabble letters on a wooden surface highlighting Vendor Take-Back Mortgage Options

When Can a Vendor Take-Back Mortgage be Useful?

Matthew Jackson Alternative Mortgages

Non-traditional mortgage options are becoming more popular these days following mortgage insurance and qualification changes. Implemented by the federal government, these changes have made it increasingly difficult for many Canadians to buy a home, particularly first-time homebuyers. One such option is a vendor take-back mortgage (VTB). With this solution, the seller extends a loan directly to the buyer. A VTB …

A clock, a miniature house, and piles of coins increasing in size; highlighting the options available for mortgage renewal

Renewing Your Mortgage? It’s Important to Weigh Your Options

Matthew Jackson Mortgage Renewals

Every time you’re in the market for a new mortgage, it’s beneficial to spend as much time considering your options as you did for your very first mortgage. This will ensure you save the most money possible throughout your mortgage term. A number of different factors such as the rate, term, amortization period, and prepayment will determine which mortgage is …

Man sitting at desk with a pile of folders and a miniature house on top; highlighting the Kelowna mortgage blog

Why a Lawyer Is Essential in the Mortgage Process

Matthew Jackson Mortgage Tips

There’s no doubt that buying a home is among the largest financial investments that you’ll make throughout your lifetime. That’s why it’s important that proper financing is established and you fully understand your obligations as a borrower. A lawyer is essential in this process. If you’ve already had a mortgage, you’ll remember the stack of paperwork you’re directed to review …

Couple of the couch looking at a smartphone using social media

Your Social Media Posts Can Impact Your Mortgage Approval

Matthew Jackson Mortgage Tips

That’s right! In a time when so many people are openly posting about their lives online – from blogs and websites to Facebook and Instagram – it’s important to keep in mind that too much information at your lender’s fingertips can negatively impact your chances of getting a mortgage. As part of their research into whether they should lend you …

Couple of first time homebuyers sitting on the floor of their new home, with closing costs calculated into their budget

First Time Homebuyers: Plan Ahead for Closing Costs

Matthew Jackson First Time Home Buyers

If you’re buying your first home, all of the various expenses rolled into the term ‘closing costs’ can seem overwhelming. Closing costs include all legal and administrative expenses you’ll be responsible for paying on or near your home’s closing date. It’s important to include these costs in your budget because, in most cases, they can’t be rolled into your mortgage …