CONSTRUCTION MORTGAGE PART 2 – THE BUDGET, THE LOAN AND THE KEY POINTS YOU NEED TO KNOW

  CONSTRUCTION MORTGAGE PART 2 – THE BUDGET, THE LOAN AND THE KEY POINTS YOU NEED TO KNOW Construction Mortgage Part 1 – Serviced vs Unserviced LotsThe first of our Construction Mortgage Blogs covered the basics of what you would need to know for this complicated mortgage type. In this second part, we will cover […]

Breaking Down Debt: How 4 Different Loans Affect Your Mortgage-Worthiness

Want to get a new mortgage? Then, your credit score is a really big deal — it can make or break your mortgage payments, and ultimately determine whether or not you get the house you want. But before we talk about credit scores, let’s talk about the debt that affects them. There are two types […]

Analyzing CMHC Borrowers

Analyzing CMHC Borrowers POSTED IN: MORTGAGE INDUSTRY REPORTS AUGUST 30, 2014 ROBERT MCLISTER 2 COMMENTS What does an insured mortgage borrower look like? According to CMHCdata from last quarter, residential borrowers who paid for mortgage default insurance had: 8% equity on average (92% loan-to-value) Less than 10% down in almost 7 out of 10 cases 25-year amortizations, on […]

A score to settle You’d be surprised what they’re using your credit score for.

by David Hodges  In his 13 years as an insurance broker Bryan Yetman has regularly witnessed the havoc credit scores wreak on consumers. No case, however, unsettled the past president of the Insurance Brokers Association of Ontario (IBAO) more than that of a woman diagnosed with breast cancer while in the midst of a divorce a […]

To get a mortgage, you’ll need to have a stellar credit score – Ask a Vancouver Mortgage Broker

The following article is from Canadian Real Estate Wealth Magazine. When you begin shopping around for a mortgage the importance of your credit history and score becomes evident. Your credit score is an important item that will determine what interest your mortgage agent will be able to offer you. It should be a priority because it […]

Fix your poor credit rating- Ask a Vancouver Mortgage Broker

Request a free annual credit report to check for errors, suggests Gail Vaz-Oxlade. Did you ever see the CBC Marketplace episode where they asked 100 Canadians to check their credit reports for errors? Forty of those people found problems. Not exactly confidence-building when it comes to what those reports are saying about you, right? So […]

The Rules have Changed for Vancouver Revenue Property

The Rules have Changed for Vancouver Revenue Property It wasn’t so long ago that you could buy a rental unit with virtually no money down and low interest rates to be used as revenue property in Vancouver. Times have changes drastically when it comes to buying revenue property in today’s mortgage market. Now, if were […]

Five Tips For Negotiating a Mortgage

Leigh Doyle  When you’re buying your first house, negotiating for the mortgage can seem like the least fun and most complicated part of the process. But having no experience making one of life’s biggest purchases doesn’t mean you’re destined to pay the bank’s listed rate. Follow these five expert-approved tips to make you a better […]

7 Deadly Money Sins That Can Wreck Your Credit

By Gina Roberts-Grey Learnvest.com Religion aside, we’ve all heard of the seven deadly sins. Working at a personal finance website as we do, we got to thinking about what the seven deadly money sins would look like: Gluttony: Trying to eat your money. Lust: Sleeping with your neighbor’s bank account. Sloth: Napping all day on your […]

Tweaked ARM addresses broker concerns over alternative lending

With tweaks to its variable-rate mortgage, Equitable Trust is acknowledging what many brokers fear: one or two years on the alternative side can improve a client’s credit, but often isn’t enough to get them into the A sphere. “Every borrower who goes to the Alt-A/B sphere aims to be there only for one or two […]

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