Prequalified vs Preapproval
When you are applying for a mortgage or loan you often hear the terms pre-qualified or pre-approved. What they mean can vary depending on the lender and type of loan you are after, but generally speaking, pre-qualification is a basic review of your financial situation...
What is Getting Pre-Approved
When you are pre-approved for a mortgage, the buyer starts the mortgage process by providing information on income, assets, credit, employment and required documentation to lenders. Then, lenders use that information combined with credit score and debt-to-income...
Working with Private Lenders
If you require mortgage financing on your upcoming home purchase or want to take out a loan to cover renovations, consolidate debt or other uses, there are many lenders to go to. One option most people don’t think about at first is Private Lenders. Looking for a...
Broker vs Bank: Who Should You Use
When shopping around for a mortgage, your local bank is the first place you are likely to go to. Banks are seen as Ontario's primary source of mortgages and are also known as A Lenders. But, they’re not the only option to take a mortgage application to. You can also...
How to Choose a Mortgage Broker
When you are purchasing a house, you will likely need to figure out financing to help pay for the property. Your options for financing are vast and could become challenging to navigate. That is when using the services of a mortgage broker can be beneficial to you....
All About Family Mortgages
When it comes to mortgage products, one that is not widely known about is the Multi-Generational - or family - mortgage. This mortgage is for multiple family generations to purchase a property together. Often this would be parents and their children. Typically, this...