If you are applying for a mortgage or any other type of credit, a lender will always want to see your credit score. Having a strong credit score is so important to a mortgage application. When I sit down with clients and it comes to checking credit, there is often a sense of uneasiness because [...]

One of the keys to successfully qualifying for a mortgage or any other type of credit is learning how to use your credit card. Credit cards can be a very useful tool when used properly but unfortunately credit cards don’t come with instructions.
When I work with first time home buyers the most common blunder that [...]

On April 19th 2010 new mortgage rules came into effect which have made it a little bit more challenging to qualify for a variable rate mortgage. Traditionally lenders qualified your maximum mortgage amount based on their current 3 year fixed rate. However, today it is a little bit more complicated and this post will help [...]

I have observed recently that both first time home buyers and seasoned owners alike struggle to understand CMHC insurance.  From a borrower’s perspective the insurance premium paid up front for the benefit of a mortgage lender seems heavy handed and unfair. However, without CMHC you wouldn’t be able to buy or refinance your homes unless [...]

Toronto Mortgage Interest Rates as of Monday November the 16th.
1 year fixed – 2.75%
3 year fixed – 3.59%
5 year fixed – 4.19%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.10% (2.15% effective rate)
RATE SPECIALS
5 year fixed – 4.05% (closings before Dec 31st 2009)
5 year fixed – 3.99% (Credit union membership required)
3 year [...]

Everyday consumers are confronted with the choice of whether to use their local bank or a mortgage broker for their financing needs. It isn’t always clear what the benefits of using a mortgage broker like myself are, so below I have summarized what in my opinion are the top 10 reasons to use a mortgage [...]

When you think of Canadian mortgage lenders most people probably can only come up with the “big 5″ banks that we are all familiar with. Very few people realize that there is a whole range of home grown competitive and progressive mortgage lenders available to them. The market is larger than you think and you [...]