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 […]

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 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 and […]

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 […]

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, liens […]