Did you know that 60% of Canadians simply sign their renewal documents without giving them any thought or review? We find that many Canadians spend time shopping for their initial mortgage, but the same is not true for their renewal! Did you know that often your renewal offer isn’t the best offer available? We can…
If you’re planning on purchasing a new home this fall, you’ll certainly want to continue reading! Here are my best tips for getting pre-approved for a mortgage. 1) Check your credit score- Mortgage lenders will use your score to gauge your financial stability and your ability to pay off your mortgage. The higher your score,…
This blog post is for all the newlyweds! So many weddings this summer, therefore so many individuals starting their new life together! Here are a few things I want you to think of as you navigate this new journey together: 1) TO RENT OR OWN? If you’re currently renting, make a plan for how and…
With interest rates rising, it’s only normal that I get asked this question a lot. Should I lock in my mortgage? The reality is, that there is no one answer to this. When working with a client, we evaluate their personal mortgage situation. Everyone is unique and therefore we cannot recommend a locked-in rate for…
If you are purchasing a home that is $500,000 or less, the minimum down payment is 5% or less. If your down payment in this price range is less than 20%, you will require mortgage default insurance. If you are purchasing a home that is over $500,000 but less than $1 Million, a down payment…
I talk a lot about the importance of getting pre-approved for a mortgage, but do you truly understand how it will benefit you? 1) You will know your borrowing capacity – If you know how much you’re pre-approved for, you can plan your mortgage payments and determine exactly what your budget can afford each month.…
An appraisal is the best way to estimate your property’s market value based on the location, condition and recent sales of similar homes in the surrounding area. Beyond an estimate of how much your property is worth, an appraisal also indicates the amount a lender will let you borrow for a property. An appraisal directly affects the…
If you are purchasing a home that is $500,000 or less, the minimum down payment is 5% or less. If your down payment in this price range is less than 20%, you will require mortgage default insurance. If you are purchasing a home that is over $500,000 but less than $1 Million, a down payment…
I talk a lot about the importance of getting pre-approved for a mortgage, but do you truly understand how it will benefit you? 1) You will know your borrowing capacity – If you know how much you’re pre-approved for, you can plan your mortgage payments and determine exactly what your budget can afford each month.…
