Credit score or credit rating, are factors that can help to know borrower
Buying a home with challenging credit, may lead to stress, then stress may lead to uncertainty which may lead to fear. A person or couple buying a home with challenging credit should not have to face uncertainty nor fear, however, this may be a traditional mistake and very understandable by those living in the situation…
Your credit Your credit is a factor with a big influence when trying to obtain a mortgage loan learn an easy form to keep it safe All your activities made through your lines of credit like credit cards, telephone companies, bank loans, students loans and specially mortgage loans, are registered in your very personal file…
Higher home prices & higher interest rates What people looking to be homebuyers can expect from the current home market headlines in the mass media? Now that higher home prices & higher interest rates (slightly) than last year’s are becoming rout news, and while the Bank of Canada has kept interest rates with no changes (for now), some people…
New rules affecting low ratio mortgages The new rules affecting low ratio mortgages or mortgages backed by portfolio insurance are effective from November 30th, 2016. The following are new mortgage rules for low ratio mortgages, (Over 20% down payment = low ratio mortgage) The new refinancing rules have been postponed to start taking effect on May 1, 2017,…
The new rules affecting high ratio mortgages are effective from October 17th, 2016. The following are new mortgage rules for high ratio mortgages, (under 20% down payment = high ratio mortgage). From October 17th, 2016 onwards all borrowers (including those seeking a mortgage with a 5 year or longer fixed rate, insured mortgage with a variable rate, fixed…
Considering co-signers to help your mortgage may be a very smart thing to do in regards to money-saving, however, this advantage may come with some potential risks that may end up consuming some of those savings or even worse, potential legal conflicts. A good family that I know wanted to buy a house to stop…
The following may help you get a more realistic expectation on a rental mortgage program and how you can speed up the process and benefit sooner from the investment of that second home (not owner occupied) or third or even fourth home. Purchasing a second home is not the same as buying your first home,…
Interest rates down We have been informed of interest rates gone down and you should be informed as of which mortgage products are offering them. Employed people currently renting and with a rental contract coming up to renewal should be most interested. Sometimes life gets tough to some, and considering that there are ways and times…
Financial character Financial character is the mental and moral group of qualities presented by an individual in regards to his/her behaviors when it comes to his/her financial agreements. Your credit score may not be good enough to qualify for a mortgage! Your high income may not be sufficient to qualify for a mortgage! Have you suffer…
Appraisal rebate is an excellent opportunity and limited time offer that can help you save after we consider the reality that there are a number of additional costs when buying a home. This special appraisal rebate offer is valid through your mortgage agent For a limited time (valid only until July 31st, 2015) Equity Financial…
Home sale prices in Ontario Is it really worth it to buy a house? That is a question that some renters that I have come across with have or had, like John and Sue (not real names) from Toronto, who were renting because they never thought that they could buy a house considering their financial…
Household credit growth in Canada The information on the following graph helps us observe that from the past 7 year approximately borrowers are paying more importance to their secure mortgage credit rather than easy to obtain commercial credit like credit cards; Thanks in part to the federal government regulations and on to the slow economic…
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