Search Results for 'credit'

Establishing Credit

June 29, 2011 | By | 7 Comments

Lenders want to see triple A credit Mortgage lenders will definitely check your credit profile.  When they do, you want to be sure that everything looks great. Not sure what your credit rating even looks like… or if you even have one? Check out your credit report at Equifax Canada or TransUnion Canada.  This should […]

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Credit 101

June 29, 2011 | By

Mortgages and Credit If you are starting to research mortgage financing, chances are you’ve come across the term “credit”. As well, you’ve likely seen the terms “good credit” and “bad credit”.  So what’s the connection between mortgages and credit?  To understand that, we need to look at credit in more detail. What is credit and […]

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Buy a home after bankruptcy – here’s how

February 9, 2021 | By | Add a Comment

Think you have to wait 7 years after bankruptcy before you can get a mortgage? That’s a myth. You can actually get a mortgage the day after you get discharged – though you might not want to. To find out how to buy a home after bankruptcy with your eyes wide open, read on! 1. […]

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Buying a condo? Check out the reserve fund

March 19, 2019 | By | Add a Comment

Thinking of buying a condo in Toronto? Here are the key points to know so you can understand the reserve fund. First, what is a reserve fund? A portion of every condo owner’s monthly maintenance fee goes into a reserve fund. That money is then set aside by the condo corporation to pay for things […]

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Self employed? Mortgage planning is *key*

January 21, 2019 | By | Add a Comment

What you need to know about getting a self-employed mortgage If you’re an entrepreneur, small business owner, consultant, or work on contract rather than full-time salary, and will be mortgage shopping soon, just a heads up. It’s getting harder and harder for people who are self-employed to get mortgage financing. Salaried employees can easily prove […]

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Private mortgage rates: why are they so high?

October 22, 2018 | By | Add a Comment

Unpacking private mortgage rates The first step in understanding private mortgage rates is to get back to the basics.  Let’s start with covering those…. What is a private mortgage? Simply put, private mortgages are offered by Canadian mortgage lenders who aren’t your typical “A” or “B” lender.   Big names are Fisgard or New Haven, but […]

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Why a reverse mortgage?

October 8, 2018 | By | Add a Comment

Need money but don’t want to sell your home? A reverse mortgage might be a good option For many Canadians, their actual financial needs in retirement are different from what they planned for. In fact, many find themselves struggling to make ends meet or must alter their lifestyle to get by. I’ve heard stories of […]

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Fixed or variable rate mortgage: which is better?

September 9, 2018 | By | 1 Comment

Fixed or variable rate mortgage: is rate the only thing to look at? One of the biggest questions you’ll face when planning your mortgage, is whether to lock in to a fixed rate or choose a variable rate mortgage. Currently, the 5 year fixed rate is around 3.19% – 3.89%, depending on your credit score, […]

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