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Buying a house with minimum down payment
It’s a common misconception that only a first-time home buyers may purchase a home with minimum down payment, which is any purchase where there is less than 20% down payment. It is a requirement that all such loans need to be insured by one of Canada’s three mortgage insurers. As long as the home is […]
Best Rate vs Best Mortgage
This is probably one of the most important questions we get asked. Soooo….. what’s the answer?That depends on your situation! The majority of people will look at the rate rather than the product. Makes sense, that’s money out of your pocket every month. There is no denying that mortgage rate is important. However, it is […]
Why is the mortgage rate I was offered different from what my friend was offered?
This is a common question that we get. Why do lenders offer different rates to different clients? There are several factors that go into what rates are offered to clients. Lenders look at credit, income, property condition, whether the property is a personal home or an investment home (rental), whether the mortgage is insured or […]
WHY USE A MORTGAGE BROKER
The simple answer…. Choice! Unlike your bank representatives, mortgage brokers have access to numerous lenders including banks, credit unions, trust companies and more. This allows brokers to assist all types of clients. You may have heard of brokers helping people that have had (or have) credit issues, those facing income challenges, or others that are […]