780-466-9898
The standard guideline for a down payment on a new home is anywhere from 5%-20% – but that’s a large amount of money for many individuals, especially first-time homebuyers. A…
Category: Mortgage Basics and Guides
“Mortgage Basics and Guides” is a category that encompasses blog posts providing essential information and guidance related to mortgages. These articles aim to educate readers on fundamental concepts, terminology, and processes involved in obtaining a mortgage for a home purchase or refinance. They cover topics such as understanding different types of mortgages available in Canada, determining the appropriate down payment for an Edmonton home, and exploring mortgage default insurance. Additionally, these posts may offer insights into working with mortgage brokers, asking relevant questions during the mortgage application process, and explaining changes in mortgage qualification rules. The goal of this category is to empower readers with the knowledge necessary to make informed decisions about their mortgages and navigate the mortgage process with confidence.
Mortgage Default Insurance Explained
In June CMHC announced big changes to the way they underwrite mortgage applications which include three significant changes which will be outlined below. Increase in Minimum Credit Score The increase…
Why should you work with an Edmonton Mortgage Broker?
Becoming a homeowner can be an exciting time but the process can take long and arduous. Securing a mortgage is an important first step in the home buying process but…
Types of Mortgages in Canada
There are many mortgage options to choose from and it is important to pick the one that works best for you. The different types of mortgages have features that meet…
Questions to Ask a Mortgage Broker
Are you looking to get a new loan for a home that you want to buy, or perhaps you want to refinance your property? Whenever you are in need of…
When to Speak to a Mortgage Professional
Are you getting ready to buy a home, or at least thinking about purchasing a property? If you are, then you know that at some point, you are going to…
Mortgage Insurance: What It Is and How It Works
For the vast majority of people, buying a home means getting a mortgage. Most of us don’t have pockets deep enough to pay cash for a home outright. That means…
New Mortgage Rule Changes Explained
As many of you have seen on the media, OSFI has implemented new mortgage rule changes starting January 1, 2018. Now, non-insured mortgage consumers (buyers with a 20% or greater…
Getting A Mortgage With Bad Credit
Credit Challenges In today’s economic climate of tighter credit requirements and increased unemployment rates taking their toll on some Canadians, there’s no doubt that many people may not fit…