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Latest News & Blogs

Income Verification - What do you need to provide?

Posted on 14 June 2018
Income Verification - What do you need to provide?
Personal income today comes in so many different forms and structures. If you're thinking of applying for a mortgage, below you'll find a quick summary of the different types and what's generally acceptable as verification. Permanent Salary Employee -  Usually requires 2 of the following: Employment letter, paystub, direct deposit into your bank account, tax returns, notice of assesment. Contract employee -  Considered a form of self employment as the employee...
Posted in: Mortgage News  

Credit History - Why you need to maintain a good scoring.

Posted on 7 June 2018
Credit History - Why you need to maintain a good scoring.
Pay at least the minimum balance on time ALWAYS. If you're not using a credit facility, close it. It doesn'thelp your score if you're not using it. Paying late because you're trying to pay the entire amount in one shot. Not dealign with a problem with a creditor. This could be indentity theft, a disputed purchase, or an error in reporting. The faster you deal with it (pay it, get supporting documentation for it, or report it as incorrect), the more responsible y...
Posted in: Mortgage News  

Why you NEED a mortgage agent/broker?

Posted on 6 June 2018
Why you NEED a mortgage agent/broker?
You hear the word 'mortgage', and the first thing that pops into mind is 'my bank'. While this is a correct answer, it's not the best answer. The mortgage broker industry in Canada is gaining market share from the well identified big banks because of the value in the service it offers. First of all, a mortgage agent/broker WORKS FOR YOU. Not for a specific bank or financial institution. This translates into getting you the best deal in terms of rates, pre payment option...
Posted in: Mortgage News  

What You Didn't Know About Commercial Mortgage Rates

Posted on 6 June 2018
What You Didn't Know About Commercial Mortgage Rates
If you are thinking of buying commercial property, it may be necessary for you to apply for a mortgage loan. Many people dread this because it is tricky to find reasonable rates. Here are a few things to consider if you want to make the process easier. This is probably the simplest yet most useful advice anyone can ever offer you. If you are looking for the best possible rate, comparing those from several lenders would be a wise idea. Even if they look pretty much the same, a differenc...
Posted in: Commercial Financing  

Understanding Fluctuating Mortgage Rates And How To Position Yourself

Posted on 5 June 2018
Understanding Fluctuating Mortgage Rates And How To Position Yourself
A mortgage is an important type of borrowing when people take out a mortgage they are taking out a loan that is secured by their home if they are unable to make the repayments on the loan for any reason, then they can lose their house. There are two types of mortgage fixed rate mortgages and adjustable rate mortgages. Fixed rate mortgages are mortgages where the bank guarantees that the interest rate on the mortgage will not change and that therefore the amount that the borrower has to...
Posted in: Residential Mortgages