Down-payments explained

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It’s important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property once you have an accepted offer. DEPOSIT A deposit, as it relates to real estate, …

Dont’s of Mortgage Closing

You’ve been pre-approved for a mortgage to secure your mortgage financing; you’ve got a fantastic rate, you’ve had your offer accepted on your dream home, and the lender is content with the supporting documents. This article will list some of the things you shouldn’t do to compromise your home buying opportunity between your mortgage finance completion date and your closing date. 1. Don’t quit your …

Is the housing market turning a corner?

While Vancouver area home sales are still posting year-over-year declines, signs are appearing in the Greater Toronto Area that the worst of the housing correction is now over. Experts say that likely won’t be enough to stave off a slowdown in national GDP growth, however, which in part will be impacted by the housing market’s weak performance over the first …

Trending: Parents Helping Their Kids Buy Homes

Parents Helping Kids Buy HomesFor parents who have the means to help their kids buy a home in today’s pricey environment, gifting money towards a down payment is one of the best way to do it.In February 2018, the Financial Post ran a story about adults still living with their parents. The figures are staggering. The number of adults still living at Parents Inn—as …

Mortgage Pre-Approval

Mortgage Pre-ApprovalThinking of buying a property, but don’t know where to start? Well… that’s where a mortgage pre-approval comes in. Start here. Just like you wouldn’t go into a restaurant without having enough money to buy your meal, so you shouldn’t start shopping for a home without an understanding of how much you can afford. So let’s have a conversation about a …

Before You Build A Home

Before You Build A HomeBuilding your dream home can sound really exciting, but have you thought about everything that goes into building a new home?Here are 7 Questions you should ask yourself before making any concrete plans!1. WHAT ARE MY EXPECTATIONS WITH THIS NEW HOME?Are you looking for a custom home build where you are responsible for every single decision …

Your Credit Profile

Your Credit ProfileCredit. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. When you borrow money to buy a house, you will be required to prove that you have a good history of managing your credit. But what exactly is a “good history of managing credit”? …

Life After Mortgage

Life After Mortgage Mortgages are a funny thing. On the one hand they allow you to become a home owner without saving up enough money to purchase the home outright, which is a really good thing. On the other hand, even at today’s really low interest rates, as they are amortized over a really long time (most of the time …

Reverse Mortgages Explained

Reverse Mortgages ExplainedOne of the benefits of working with an independent mortgage professional is choice when it comes to mortgage product. When you work with a single bank or financial institution, you are limited to the products they offer. When you deal with a mortgage broker, you gain access to products from many lenders. Some of these products are very …