How Can You Be Proactive with The Application Process
We understand that the mortgage process can be a little intimidating at times, so working hard to establish a good line of communication between you and your broker is something that we’ve put as one of our a top priorities. We help many potential home and property buyers acquire various mortgage types, lines of credit, clearing up unwanted debt and even purchasing investment properties.
Five Tips to Getting Your Mortgage Approved
The thought of applying for your first home loan can be unpleasant when you think about what lenders are looking for, but you can make the whole approval process much easier by knowing how to get approved. Here are our some tips on how to qualify and get your mortgage approved.
Why Consider Commercial Mortgage Refinancing?
Although there are a number of reasons why you may be thinking about refinancing your commercial property, before anything it’s a wise move to consult with a mortgage broker who is experienced with commercial mortgage refinancing. The important thing to do is educate yourself on all available options so you don’t just jump at the first one that comes your way simply because you’re in a rush. When you refinance any mortgage product you will have to pay a penalty fee. However, when you refinance into a better product, with a lower interest rate and more flexible terms you will save thousands. A specialized commercial mortgage expert know what mortgage products can work best for your circumstances.
Minimum Mortgage Requirements Today
You don’t have to be a renter forever. If you’re tired of renting and you’re ready to become a homebuyer we understand how intimidating that can be. As a first-time buyer, just understanding today’s mortgage requirements can be an expensive learning curve. Properly educating yourself about how you can qualify for a first-time mortgage will help you to avoid unwanted expensive mistakes. Here are a few tips you should know before applying for a home loan.
Understanding Mortgage Default Insurance
As a first-time homebuyer you must get mortgage default insurance on your new home purchase, it’s a federal requirement. However, don’t be mistaken mortgage insurance is not meant to protect the first-time buyer, it’s designed to protect the lender in case you default on your mortgage. Therefore, it’s important for you to understand what it is and how it works.
Buying a Home for the Self-Employed – Leave It to a Mortgage Broker
In Canada, it’s estimated that roughly 10 percent of the Canadian population is self-employed. Since the financial crisis, this number has risen due to the digital age of entrepreneurship we live in today. With more and more people are becoming self-employed by starting online businesses, which will lead to continuous growth. Although self-employment is great for our economy it comes with one downfall for the self-employed person, it’s harder to qualify for a mortgage.
Why You Should Start Considering Consolidating Your Debt
It’s no surprise debt is quite commons amongst everyday Canadians. In fact, you are currently most likely borrowing from a few different lenders. Think about it. Do you have a credit card, a car loan or a bank loan or all of these? Then you are within this group of Canadians. If this is the case, one thing you should be well aware of is the varying interest rates between the different lenders and type of debts. Don’t get despaired with your financial situation, debt consolidation can help, but, first you must understand what it is. By borrowing money from a low-interest lender in order to pay off high-interest debts, you are consolidating your debts. Doing so will help you get rid of higher interest debts by combining them into one, lower-interest loan that’s easier to keep track of. I bet you’re asking yourself why you should consolidate your debt? Well, here’s why.
Understanding Pre-Approvals – A Home Buyers Guide
Any good mortgage professional will tell you that your house hunt shouldn’t start with a call to your realtor; it should start with a call to a mortgage professional who will work with you in order to obtain a mortgage pre-approval. After all, how can you shop for property when you don’t know how much money you have to spend or, more importantly, how much a lender will loan you for your mortgage?
Can’t Qualify for a Bank Mortgage? How Private Mortgages Work
There is almost ALWAYS a mortgage solution. New to Canada? Self Employed? Maybe a few credit glitches in your past? You just need to ask the right mortgage consultant. Not everyone can qualify for bank mortgages today. It doesn’t make you a bad person, it makes you a business savvy person getting the best mortgage for your situation! With the mortgage rules constantly changing, private or alternative mortgages are becoming the only way some people can refinance or buy.
Buying House/Property in Canada for Non-Residents
We help a lot of non-residents buy property in the Greater Toronto Area, and there are some questions that come up repeatedly. Below, you’ll find answers to the most frequently asked questions.