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Answers to your questions.
Nobody taught us how to read a credit score in high school either. This section is a place to try and answer every single question we've been asked over the years and give you a place to get answers.
Renewing your mortgage No. If your term is up, you should call your broker and see if the renewal...
Become mortgage free If you’re looking to payoff your principal faster, depending on your lender,...
Variable rate mortgages A variable rate mortgage is when your interest rate increases or decrease...
Construction Mortgages Construction financing can look a bit different at each bank, but the proc...
Retire with freedom A reverse mortgage is a mortgage that pays you! Pretty sweat, eh? Reverse mor...
Buying and renovating If you find a home that requires a lot of work to be done (mostly cosmetic)...
Mortgage Insurance Mortgage default insurance is a premium added onto mortgages if the buyer puts...
Renewing my mortgage With most lenders you can renew your mortgage up to 120 days before your ren...
Mortgage Amortization and term A mortgage amortization is spread over a longer period i.e.: 25 or...
Fixed Rate Mortgages A fixed rate mortgage is when you sign up for the same interest rate over th...
Porting your mortgage Porting you mortgage is when you take your current mortgage with you to a n...
What really is a mortgage? A mortgage is a loan secured by a piece of property. A bank or lender ...
APR or the Annual Percentage Rate is the total cost of the mortgage spread over the amortization ...
GDS & TDS GDS (gross debt service ratio) is a percentage of the household income being allotted ...
Use a mortgage broker today! YES! A mortgage broker is a free, individualized service that will m...
How to know the time is right The right time to buy is different for everyone. It might not alway...
Qualifying for a mortgage If you are paying child or spousal support, that yearly amount will be ...
Co-Signer VS Guarantor With the current costs of homes, interest rates higher than the last few y...
Securing a mortgage If you have an accepted offer and you’re ready to secure financing (assuming ...
Get Pre-Qualified! Your mortgage broker will start by filling out a mortgage application with you...
Mortgage Broker vs Mortgage Specialist Mortgage Broker In BC, a mortgage broker is licensed unde...
Down payment When purchasing your primary residential home - In Canada, 5% of the purchase amount...
Deposit Yes. A deposit is a financial commitment towards the purchase of a home. The deposit you ...
Gifted down payment Yes. If your family is gifting you some or all of your down payment, you can ...
Gifted Down Payment Transferring gifted down payment can go very smoothly if done correctly. It c...
Missed payment If you miss a mortgage payment, call us or your lender as soon as your realize. Be...
Checking your credit history We understand people’s worry when it comes to pulling credit bureaus...
