Mortgage Blog

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Things to Consider When Shopping for a Fixed Mortgage

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

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Exploring Debt Consolidation and How it Works for Canadians

Consider debt consolidation to be the monetary equivalent of getting your life in order. Debt consolidation is a popular financial approach for one fact among many: it helps decrease your interest rate and makes your monthly payments more manageable. So what is debt consolidation? And how can Canadians choose the

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What to Know About Obtaining Preapproved Mortgage Letters

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,

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3 Mortgage Tips for the Self-Employed Canadian Home Buyer

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,

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What You Should Know About Buying a House in Ottawa

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

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How Can Your Mortgage Get Denied After Pre-Approval?

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

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3 Tips for Getting Pre-approved for a Higher Mortgage

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

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Our Guide to Mortgage Pre-Approval: What You Need to Know

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

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The First-Time Homebuyer’s Ultimate Guide to Buying a Home

Buying a new home is a big financial commitment, but it’s an even bigger deal if you’re buying your first home. Settling down is definitely a milestone that’s worth celebrating, and there are a bunch of things you need to know before you close the deal and pop the champagne. 

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6 Signs Now Is the Best Time to Refinance a Mortgage

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

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house

The First-Time Homebuyer’s Ultimate Guide to Buying a Home

Buying a new home is a big financial commitment, but it’s an even bigger deal if you’re buying your first home. Settling down is definitely a milestone that’s worth celebrating, and there are a bunch of things you need to know before you close the deal and pop the champagne. 

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Weighing Options: An Overview on Commercial Mortgages

When people are asked about mortgages, they’ll usually think of the various loaning options for purchasing a home. While most conventional mortgages serve this purpose, there are other financing products in the market for other purposes. For example, commercial mortgages are necessary for business owners to set up their on-site

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How to Use Your Mortgage to Consolidate High-Interest Debt

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

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Mortgage Mistakes Self-Employed People Should Avoid

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

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First Things to Ask Your Mortgage Agent: How to Find the Right One

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

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How to Know If A Multifamily Home is Right For You – Part 1

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,

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The Solace Behind Getting Mortgage Refinancing In Ottawa

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,

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What You Need to Know About Mortgages When You’re Self-Employed

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

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Our Guide to Mortgage Pre-Approval – The Dos and Don’ts

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

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What You Need to Know About CHIP Reverse Mortgage in Canada

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

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Debunking Popular Mortgage Refinancing Misconceptions

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

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The Advantages of Applying for Home Equity Line of Credit

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

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What You Need to Know About Fixed and Variable Rate Mortgages

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

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3 Ways a Mortgage Agent Can Help You Get Your Dream Home

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

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