Whether you are purchasing a home or looking to refinance, determining the property’s value is an important step in the mortgage application process. This amount will determine the amount of mortgage you’ll be offered. How home value is measured? A home’s value is based on its features. These include square footage, location, age, quality and…
A good credit score will affect your ability to borrow and also the interest rates that will be available to you. Generally speaking, a good credit score will result in a lower interest rate. How to build credit history that benefits you: Start early The length of your credit history is a key factor in…
One of the best reasons to work with a mortgage professional is that I work with a wide variety of lenders. Unlike your local bank branch, which can only offer you a mortgage (and mortgage rate) from their own suite of products, I have access to many different lenders. When we review finance options, you…
Do you know what an assumable mortgage is? An assumable mortgage allows you to take over or assume someone else’s mortgage and their property. It also allows someone else to take over your mortgage and your property. The terms of the original mortgage must stay the same. This is something you may consider if: You’re…
If you’re considering divorce or working through a divorce you are probably wondering how this affects your mortgage with your partner. In the event of a divorce, the mortgage is paid out and any supplementary funds are sent to a lawyer’s trust account until a Separation Agreement can instruct how the funds are to be…
If you’re a first-time homebuyer, you’ll want to explore this option for saving for your downpayment! I’m excited about its opportunities for my first-time homebuying clients!
There are so many benefits to getting pre-approved for a mortgage prior to beginning your new home search. It allows you to know the budget within which you should search and it also allows you to confidently make an offer when you’re ready. The other big benefit to getting pre-approved is that it offers you…
Porting your mortgage entails taking your existing mortgage – along with its current rate and terms – from one property and transferring it to another. You’re only allowed to port your mortgage if you’re purchasing a new property at the same time you’re selling your old one. Unlike mortgage refinancing, porting a mortgage doesn’t require…
One of the many reasons why my clients are investing in real estate is because of the great financial return. Higher risk tends to generate higher returns. So, in the stock market, for example, you may see individual stocks performing very well. As a basket of stocks, the risk is reduced and the returns are…
