What is a Debt Service Ratio?
The mortgage loan approval process can often seem like a complete mystery with mortgage applicants rarely understanding why they were approved or rejected. Before you jump head first into looking for a home and applying for a mortgage, it’s important to know what is financially expected of you. Learn how… Read More
Should I use Home Equity to Pay off my Credit Card Debt?
If you’ve owned your home or a property for several years, it’s very likely that it has equity. Furthermore, if your home or property has increased in value over the years then it definitely has equity and potentially quite a lot. When property has equity, the owner can use that… Read More
Mortgage Acronyms Decoded
When dealing with mortgage professionals it is not uncommon to become confused with the amount of acronyms they use. But confusing or not, being unfamiliar with mortgage acronyms could lead to a costly error that you do not want to make. In the industry, mortgage acronyms have become so common… Read More
Mortgage Qualification & Multiple Collaterals
Do you need help getting approved for a new mortgage loan, or are you having difficulty leveraging your existing home equity for a loan? If you own other property, or have friends or family that own property, then you should consider looking in to a multiple collateral mortgage loan. The average consumer… Read More
Short Term Mortgage Financing & Bridge Loans
Are you currently struggling to get the financial help you require? Do you need to pay down debt or cover an unexpected large expense? Have you been rejected by your bank and other big financial institutions because of poor credit or other reasons? If you answered yes to any of… Read More
Liar Loans
The term “liar loan” has become synonymous with the American real estate boom and the subsequent fall of the market in the early to mid 2000s. And while we may like to think that such loans never did and certainly don’t know exist in the Canadian financial system, they in… Read More
How to Save for a Down Payment
Purchasing a home, whether it’s your first or fifth, can be both an exciting and stressful time in your life but for many it’s also the ultimate achievement. Being as prepared as possible is probably the most important step in the home buying process, this of course includes saving for… Read More
Is There a Right Time to Buy a House?
House hunting can go one of two ways, you could be lucky and find your dream home right away or it could take you months of searching to find something you’re willing to spend your hard earned and hard saved money on. The very process of finding a house to… Read More
How Will a Rise in Interest Rates Affect You?
Canadian interest rates are currently at an all-time low but with the economy in flux it’s more than likely we’ll see an increase in the near future. So if you’re one of the many Canadians who took advantage of borrowing money when the interest rates were low, how will an… Read More