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

When Can a Vendor Take-Back Mortgage be Useful?

Matthew Jackson Mortgage Tips

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 Tips

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 Mortgage Tips

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 …