Mortgage Blog

Freelancers and self-employed individuals experience challenges not only in finding steady income sources but also in acquiring home loans. Unfortunately, even those with steady businesses and clients failed to secure their own homes for the same reason: they do not have the W-2 tax form that shows the amount of

Do you dream of building your own business? Does the idea of being your own boss and working on your own time appeal to you? Imagine yourself finally breaking free from the confines of a traditional 9-to-5 job. The best part is if your business succeeds, you will be able

Debt consolidation loans are there for when you’re experiencing financial difficulty. It’s an easy fix for a debt problem that has piled up, and it’s also ideal for when you want to lower your interest rates and combine all debt into one monthly repayment.  While it seems like a good

You have heard of the adage “cash is king,” and you may agree on this, but how do you think it applies when it comes to buying a house? This may be something that you haven’t thought about before, but it’s certainly worth considering. And in this post, Ottawa Mortgage

If you were to ask experienced mortgage brokers in Ottawa, such as Ottawa Mortgage Services, you will learn that you must renew your mortgage at least once before paying it off. As the term mortgage renewal implies, it is the process of re-evaluating your mortgage’s outstanding balance. And most importantly,

Are you researching mortgage options for your dream home? You’ve most likely come across many different choices, including four- or five-year fixed mortgages. Five-year rates are currently more competitive than ever, but shorter-term rates are making a comeback, with some really attractive bargains. To attract attention, some lenders may offer

When looking to buy a home quickly, the smart thing to do is to get a preapproved letter from a mortgage lender. To the seller, this means that you are serious about the purchase, causing them to take you a lot more seriously. This is a great advantage to have,

Getting a mortgage for your home may be as simple as providing a pay stub and a job letter as two forms of requirements. Sure, there are other prerequisites right after that, but the laundry list of requirements for the typical employee is usually accessible and easy to accomplish. However,

If you’re reading this article, you’re probably looking into buying a home in Ottawa. You’re not alone: more and more people have been looking into it and actually making a purchase. It’s never been more crucial to search Ottawa for mortgage services that are reliable than nowadays since things are

The pre-approval stage is a necessary step before you can secure a mortgage. This is why homeowners shopping for different lenders get pre-approved for numerous loans before settling down on the right one for them. While the pre-approval period can last from 90 to 120 days, it’s important to remember

Buying a house is an important milestone in life since it offers peace of mind and brings you and your family closer to your desired lifestyle. Plus, nothing beats the feeling of being secured and coming home to a house knowing it is all yours.  Affording a house often means

If you’re a first-time home buyer in Ottawa, then you’ll have to start exploring your financing options to help you purchase your dream home. The prospect of getting your first mortgage can be intimidating, especially if you aren’t sure of what you need. But working with a mortgage agent in

Refinancing a mortgage means paying off your current mortgage and replacing it with a new home loan. Doing it can seem tempting, especially when refinance home loan rates are low. But before going through the process, keep in mind that it is a major financial transaction. It can save or

There are many financial products that are available to help you reach financial freedom and stability. During difficult financial times, you may have used these loan products to ease your financial burden. However, when the time comes to pay off these debts, it may seem like forever when you try

Securing mortgage approval has been a common problem among self-employed individuals. It is common knowledge that lenders prefer long-term employment records to ensure consistent payments, over variable self-employed income. But it is not always impossible.  In Canada, the growing number of self-employed individuals is forcing lenders to adapt. They are

Buying a house is never simple. It involves many steps before you can call a property your own. More importantly, it involves a considerable amount of money. Fortunately, mortgage agents can help aspiring homeowners afford their dream homes.  These agents can assist their clients in finding the best financing for

The urban landscape is taking over, and as cosmopolitan spaces dominate your quaint, single-family neighbourhoods, multi-family real estate is now the hottest commodity in today’s housing market.  Living in a duplex may seem like a far cry from the white, picket-fenced house people imagine when thinking of the traditional home,

There can be a lot of reasons as to why you need to undergo mortgage refinancing. For many, it can be a breath of fresh air to have a second opportunity to manage the loan you take out. There are some homeowners who need to finance their current mortgage loan,

The rate of self-employed Canadians is growing at a rapid pace, and as a result, the challenge of getting a mortgage for self-employed individuals is rising too.This is because income can be less predictable, unlike working with a steady employer.  Additionally, some banks won’t recognize those who are self-employed or

For many, owning their first home is a lifelong dream and a significant milestone. However, like any new experience, being a first-time homebuyer can come with waves of uncertainty and you may catch yourself second-guessing your decisions at some point.  That’s why it helps to follow a proper guide and

Whether you’re faced with debts and expenses that you want to pay off, or you’re just looking to have some extra money to improve your day-to-day life, consider all your options. A Canadian Home Income Plan reverse mortgage, or shortly known as CHIP, may be able to help you reach

Interest rates have never been as low as they are nowadays. It’s no surprise that most, if not all, mortgage holders out there have started looking to get refinancing done. Typically, the best way is to go about reaching out to a mortgage specialist in Ottawa.  There are several plans

When it comes to buying and maintaining a home, there are many ways you can achieve these goals without breaking the bank and getting broke in the process. One of these types of credit is HELOC or home equity line of credit, however, not many may be aware of what

Mortgages can be a challenging topic to first-time homebuyers, especially when they aren’t well-versed in financial terms and home-buying concepts. This is why it comes with no surprise that first-time homebuyers will carry a trunkload of questions that will help them understand the mortgage process. One of the most common

Buying a home for the first time can be an incredibly exciting process. You’re finally moving into a place you can call your own, which means you can decorate it to your heart’s content. However, the process of purchasing a home is quite long and complex, especially when looking for