Below you'll find a list of all posts that have been tagged as “obtaining a mortgage”
Employee income is one of the most important aspects of being approved for a mortgage. Lenders will qualify you for the mortgage based on your income, your debt, and your down payment. In this blog post, I thought it would be a good idea to discuss how lenders see income. Whether you’re full-time, full-time salary or part-time, your income levels …
Do you have little to no credit, damaged credit or are just starting to build your credit? If so, this is the blog post for you! Being a mortgage broker, I have seen a lot of people in these situations. It’s never easy to build your credit when first starting out and it can sometimes take years to establish even …
Can you qualify for a mortgage with a student loan? It’s a popular question and I’m here to tell you that it’s completely possible! And, quite common as well. In this blog post, we’ll dive into what it means to have a mortgage with a student loan and what you can do to prepare for what’s to come. Let’s get …
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 …
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 …
As is the case with many aspects of our lives, securing a mortgage on a new or existing home can be a lot less stressful – and a whole lot more straightforward – when we’re prepared. There are many common mortgage mistakes people make that are easily avoidable when you know the facts. Here are the top three mistakes and …
Have you immigrated or relocated to Canada within the past five years? Whether you’re a permanent resident or in the country on a work permit, I have access to some great specialty mortgage solutions with affordable down payment options. If the property value of the home you’re looking to buy is below $500,000, you can make a purchase for just …
Stress test mortgage qualification requirements that were introduced last year have resulted in many more Canadians becoming familiar with private mortgage options out of necessity. Prior to this change, many borrowers viewed the world of private lending as somewhat of a mystery. Private mortgages have been around for years, but they were often reserved for people who had credit or …
Banks are very specific on what they want to see for a mortgage down payment, depending on how the payment was obtained. In this post I am going to share 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 …
In this post 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. Purchasing Without a Bridge Loan Fee-wise, the cheapest option from the bank is for you to sell your …
