A credit score is one of the basic requirements when applying for a mortgage. Generally speaking, you need a credit score above 680 to qualify for the top mortgage products available. Anything under does not mean you can’t get a mortgage, just that your rates and...
Purchasing a first home is a challenging feat these days. Home prices are high and inflation has raised interest rates significantly in the last year. Due to this, many young people are priced out of owning a home and forgo the whole experience of buying a first home....
When you are working as your own boss, there are many benefits to enjoy. However, it can be difficult to obtain mortgages when you’re self-employed. Many applications like to see regular, stable working hours or salaries. However, that doesn’t mean you cannot obtain...
When you apply for a mortgage, oftentimes they come with various terms and conditions around penalties. Most penalties are always for breaking a mortgage before the term. And, even with penalties, 60% of people often break a mortgage early. A lot of mortgage holders...
Canada’s economy is constantly changing. The Bank of Canada frequently raised interest rates over the last few months to combat inflation and high house prices. When you have a mortgage your fixed and variable rates depend on the prime rates set by the Bank of Canada....
Working with a licensed broker is a great starting point when you are looking for a mortgage. You don’t need to use a broker to apply for a mortgage. You are able to talk directly with banks and other lenders about mortgage applications. However, a mortgage broker...
