Search Results for 'pre-approval'
Pre-approvals made simple
The ins and outs of mortgage pre-approvals When you’re house hunting, it’s important to know the amount of mortgage you qualify for, your monthly payments, and that your interest rate will be held for a specified period of time i.e. 120 days. Getting a mortgage pre-approval ensures that you can shop within your price range, […]
How to buy your first home in 10 steps [infographic]
A 10-step roadmap for first-time homebuyers: how to buy your first home The journey to buy your first home is an exciting and pivotal time in your life. In my work as a mortgage broker I’ve had the privilege of helping many people find their first homes, so I understand that this process can also […]
The down payment
So you’ve decided you’re ready to buy a home… but what about the down payment? How much will you need? Is there any hope of saving up enough? Finding the funds for a down payment – yes, even in today’s market – may be well within your reach. And it may not take as long […]
How to buy your first home by 29
What’s the rush? The financial “why” HSBC did an interesting study in the UK in 2014. It suggested that if you buy your first home by 29, you create a positive cycle that not only benefits your own financial situation, but that of your future children as well. Buying early gives enough of a boost that you […]
“Conditional on financing”: the most important part of your offer
“Conditional on financing” – do I need this? When you find the condo or house of your dreams, and want to make an offer to purchase it, do you need a financing condition? Unless you can pay cash for the home, then yes, you do. That little phrase, “conditional on financing”, is important protection for […]
After the rate hike…what’s next?
On July 12th, for the first time in seven years, the Bank of Canada increased the overnight rate by .25%, withdrawing some of the stimulus that was needed after the oil price collapse and 2008 financial crisis. Variable rate mortgages and lines of credit will see higher rates and modest payment increases. Fixed-rate mortgages – […]
Mortgage rates going up: the Trump effect
Lenders advise: mortgage rates going up We’ve just received several notifications of mortgage rates going up, imminently. Rob Carrick’s latest article in the Globe and Mail highlights the impact of the U.S. election on bond rates. “Mr. Trump’s plan is to stimulate the slow-growing U.S. economy by spending big on infrastructure, and that has financial markets worrying […]
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