Should You Co-Sign A Mortgage?
Should You Co-Sign A Mortgage? Sometimes, not everyone meets a bank’s rules for getting a mortgage. When people can’t qualify on their own, they might ask someone with better finances to co-sign their mortgage. This means they use the other person’s good credit to help them qualify. Co-signing a mortgage can be a helpful strategy […]
How B Lenders Can Help You Get A Mortgage in Canada
How B Lenders Can Help You Get A Mortgage in Canada If a bank or credit union denies your application for a prime mortgage, you still have alternative financing options. Many homebuyers in this situation turn to B lenders, with more flexible approval criteria than major banks and other “A lenders.” Homeowners seeking to refinance […]
Preparing for Mortgage Renewal In Canada: 8 Essential Tips
Preparing for Mortgage Renewal In Canada: 8 Essential Tips Is your mortgage term ending soon? If you’re not ready to pay off everything you owe, you’ll have to renew your mortgage, refinance, or change lenders. Since renewing your mortgage involves signing a new contract, it’s essential to be ready with the correct information to make […]
Reverse Mortgage in Canada: Is It Right For You?
Reverse Mortgage in Canada: Is It Right For You? If you’re 55 or older and own a home in Canada, a reverse mortgage might interest you. With this, you can get up to 55% of your home’s current value as cash without having to sell or refinance your house. Reverse mortgages have become quite popular […]
Early Mortgage Renewal: How Does it Work and What Are the Pros and Cons?
Early Mortgage Renewal: How Does it Work and What Are the Pros and Cons? Many Canadians renew their mortgage more than once before finishing paying it. When they renew, it depends on how long their mortgage lasts, which could be a few months or even over 5 years. You might have heard about people renewing […]
Does Owning n Investment Property Disqualify You from the First-Time Homebuyer Incentive in Canada?
Does Owning an Investment Property Disqualify You from the First-Time Homebuyer Incentive in Canada? I have encountered this question several times: does owning an investment property disqualify you from the First-Time Homebuyer Incentive in Canada? The straightforward answer is no. The First-Time Home Buyer Incentive (FTHBI) offers a valuable opportunity for Canadians to enter the […]
Understanding Mortgage Foreclosure in Canada
Understanding Mortgage Foreclosure in Canada Sometimes, life can be full of surprises, as we learned from COVID-19. Even with careful planning, we can encounter unexpected occurrences. When you purchase a home, you might have more significant plans for it. You imagine the different projects you’ll do and the memories you’ll make there. But you probably […]
The Top 10 Mortgage Mistakes Often Made By Canadians
The Top 10 Mortgage Mistakes Often Made By Canadians In several years of working with mortgages, I’ve noticed many people in Canada make common mortgage mistakes when getting a mortgage. People tend to focus too much on small details that don’t matter much while overlooking critical terms in their contracts. This article is here to […]
Pros And Cons of Buying a House With Cash
Pros And Cons of Buying a House With Cash By now, you’ve probably heard countless times that it isn’t a good idea to be in debt and that paying for things with cash upfront rather than relying on credit is better. But have you ever thought about buying your next house outright with cash, or […]
What Are the Requirements and Qualifications Of Mortgage for Self-Employed in Canada?
Self-Employed Mortgage in Canada: What Are the Requirements and Qualifications? A report from Statistics Canada indicated that over 2.6 million Canadians are self-employed. This implies that around 15% of workers in Canada are their own bosses. Being self-employed has its pros, but one challenge self-employed people might encounter is qualifying for a mortgage. Purchasing a […]