The advantages for home buyers to obtain a mortgage pre-approval. Obtaining a Pre-approval A mortgage pre-approval from a mortgage lender says you are approved for a mortgage before you have selected a specific property. You simply fill out a mortgage application and provide the lender with income documentation and consent to pull your credit report […]

Most home maintenance activities are seasonal. During winter months, it is important to follow routine maintenance procedures, by checking your home carefully for any problems arising and taking corrective action as soon as possible. These include: Check and clean or replace furnace air filters each month during the heating season. Ventilation system, such as heat […]

The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand increases in mortgage payments. You can sometimes expect a financial reward for going with the variable rate, although the precise magnitude will ebb and flow […]

Your income (capacity to repay) usually indicates how much money you can borrow, but your credit report (repayment history) will usually determine whether you can borrow additional money. Past credit behaviours are categorized into five predictive characteristics used by the credit bureau to determine your credit score. Past Payment Performance (35%): Fewer late payments, judgments, […]

Homeowners should know the differences between a conventional mortgage and a Home Equity Line Of Credit (HELOC). A conventional mortgage is a registered charge against your home. There is a set term – 6 months to 10 years with a fixed or variable interest rate. Payments include principal and interest. Many homeowners choose a fixed […]

Bank representatives typically have only a few mortgage products available. Independent mortgage brokers have access to many lenders (various banks, credit unions, trust companies and private lenders) to help you put together the mortgage that works best for you! Although almost everyone wants a mortgage with the best rates, terms and conditions possible, yet many […]

There’s good debt and bad debt and the difference lies in whether it helps or hurts the pursuit of our financial goals. Some debt can be seen as assisting one’s financial future: 1. Borrowing money to maximize retirement savings. 2. Loans with tax-deductible interest to earn investment income. 3. Borrowing to acquire an asset that […]

1.   As many as 85 percent of all people in the USA use a mortgage broker and we are catching up quickly here in Canada. 2.   I shop on your behalf for the best rates and products from over 50 different Banks, Credit Unions and Trust Companies. 3.   My services are free […]

If you are looking for a new home, be sure to get pre-approved. With a mortgage pre-approval, a licensed mortgage professional like myself can do a complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend. We […]

Purchasing a home is one of the biggest decisions most people ever make. At some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. Ultimately, the decision is a personal choice, but it helps to look at the pros and cons of buying to […]