27 Nov

MORTGAGE PAYMENT OPTIONS… WHICH IS THE BEST OPTION FOR YOUR SITUATION?

General

Posted by: Shari Letsos

MORTGAGE PAYMENT OPTIONS… WHICH IS THE BEST OPTION FOR YOUR SITUATION? Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments. Most people want to pay off their mortgage as quick as possible to save paying interest. We’ll discuss various mortgage payment […]

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25 Nov

DOCUMENTS YOU NEED TO QUALIFY FOR A MORTGAGE

General

Posted by: Shari Letsos

DOCUMENTS YOU NEED TO QUALIFY FOR A MORTGAGE Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the lender has reviewed, approved ALL your income and down payment documents (as listed below) prior to you going house hunting. Many bankers will say you’re […]

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13 Oct

MORTGAGE BASICS – TYPES OF INSURANCE

General

Posted by: Shari Letsos

MORTGAGE BASICS – TYPES OF INSURANCE In part one of this two-part series, we will look at the types of insurances you will hear about during the mortgage process. Sometimes it is a good idea to revisit the basics when looking at a complex thing like a mortgage. There can be misunderstandings which crop up. […]

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9 Oct

SAVING FOR A DOWN PAYMENT

General

Posted by: Shari Letsos

What prevents many potential homeowners from buying a home is the lack of a down payment. Many first-time home buyers are receiving down payment gifts from family. Unfortunately, many are not in this position and need to plan to save their own down payment. When you can visualize the benefits of owning your own home […]

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6 Oct

AVOIDING “STICKER SHOCK” WHEN IT COMES TO MORTGAGE RENEWAL

General

Posted by: Shari Letsos

AVOIDING “STICKER SHOCK” WHEN IT COMES TO MORTGAGE RENEWAL Imagine that, a few years from now, the time has come to renew your mortgage. Several years back, you got a $350,000 at the then great rate of 2.24%. Your mortgage payments are $1522 per month. Because we are now in what the financial brainboxes call […]

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29 Sep

CREDIT SCORES: HERE’S WHAT YOU NEED TO KNOW

General

Posted by: Shari Letsos

The interest rate you pay on loans for every major purchase you make throughout your lifetime depends on various factors, and is dependent on your creditworthiness – everything from the mortgage on your home to your car loan or line of credit. And, given today’s ever-changing mortgage requirements and rising interest rate environment, your credit […]

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15 Sep

GATHER YOUR MORTGAGE’S DOWN PAYMENT

General

Posted by: Shari Letsos

GATHER YOUR MORTGAGE’S DOWN PAYMENT For many people, saving enough for a down payment on a house is not an easy task. (You can’t rely on finding One-Eyed Willy’s treasure like they did in the Goonies movie, either!) Once you have an idea as to how much you can afford on your home, relative to […]

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31 Aug

HOW TO RENEW YOUR MORTGAGE IN 5 EASY STEPS

General

Posted by: Shari Letsos

If you have a mortgage, chances are unless you win a lottery (cha-ching $$$) you’ll be doing a mortgage renewal when your current term has finished. While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when looking […]

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30 Aug

MANAGING YOUR MORTGAGE

General

Posted by: Shari Letsos

Why is it important for you to have a mortgage manager? Reaching your financial goals is attainable! There are some things to consider before securing your mortgage: Is there a potential of you buying an investment property or a vacation home? Are you considering scaling up or downsizing? Do you think you might move or […]

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26 Jul

5 REASONS THE BANK MAY TURN YOU DOWN FOR A MORTGAGE

General

Posted by: Shari Letsos

Mortgage rules have become stricter over the past few years. Assuming you have a down payment, good credit and a good job, what could prevent you from obtaining financing for a home purchase? Below are five less obvious reasons a bank may turn you down: It’s not you, it’s the building Hate to be the […]

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