Blog, Mortgage Tips & Advice 01 Mar 2024 Should You Use a Mortgage Broker? Bank vs. Broker While banks are a familiar option, mortgage brokers offer distinct advantages that can make a significant difference in your homeownership journey – whether you’re purchasing your first home, or refinancing an existing mortgage. Here's why… CMSpeople
Blog, Mortgage Tips & Advice 23 Feb 2024 B-ing There for You: A Guide to B-Lender Mortgages in Canada Buying a home in Canada is a dream for many, but navigating the mortgage maze can be daunting. And if you already own a home, perhaps a mortgage refinance is becoming a challenge with the… CMSpeople
Blog, Mortgage Tips & Advice 15 Feb 2024 What Documents do I Need to Get a Mortgage? Buying a home? Congrats! Or maybe you’re refinancing your mortgage to make your mortgage work for you. Now, before you get swept away in open-house dreams or renovation plans, let's talk paperwork. This guide will… CMSpeople
Blog, Mortgage Tips & Advice 09 Feb 2024 Can I Get a Mortgage with Bad Credit or No Income? Mortgage qualifications haven’t changed much in the last decade, apart from minor underwriting adjustments over time. While these subtle adjustments have led to an adaptation of mortgage underwriting, both credit and income remain of greatest… CMSpeople
Blog, Mortgage Tips & Advice 07 Feb 2024 When Will Mortgage Rates Drop? Can you believe it’s been almost 2 years since mortgage rates first started their climb? For some, these 2 years have flown by, while for others, it’s been a financial nightmare. The Bank of Canada… CMSpeople
Blog, Mortgage Tips & Advice 28 Jan 2024 Mortgage Renewal Rates in Canada Here’s a crazy statistic: 80% of all mortgages outstanding as of March 2022 are coming up for renewal in 2024. This amounts to approximately $250 billion in mortgages. 2025 is expected to be an even… CMSpeople
Blog, Mortgage Tips & Advice 10 Jan 2024 How to Get a Home Equity Loan in 2024 If there is ever a time when homebuyers need to access their home equity, it’s 2024. Rising costs across all categories have tightened the grip on household budgets. While mortgage rates have increased gradually over… CMSpeople
Blog, Mortgage Tips & Advice 29 Dec 2023 What is the Prime Rate in Canada? What is the Prime Rate (or prime lending rate) you ask? The prime lending rate in Canada is a base rate used by commercial banks to determine the rate at which they lend you money.… CMSpeople
Blog 23 Dec 2023 How to Get the Lowest Mortgage Rates in Canada The lowest mortgage rates in Canada are very much dependent on the overall profile of the borrower, and luckily for you, you’ll have full control over the factors that help you qualify for the best… nkad3
Blog, Mortgage Tips & Advice 15 Dec 2023 What is Mortgage Portability? Mortgage Portability Defined: Mortgage portability is when you sell your existing home and transfer your mortgage to your newly purchased home. So just like you, your mortgage can move too! Imagine being in a scenario… CMSpeople
Blog, Mortgage Tips & Advice 08 Dec 2023 Everything you need to know about Mortgage Payment Frequency While monthly mortgage payments are the standard for many homeowners, choosing a different mortgage payment frequency can help pay off your mortgage sooner, or at the very least, make it easier to manage your household… CMSpeople
Blog 01 Dec 2023 Mortgage Stress Test – What is it? What is the Mortgage Stress Test? Simply put, mortgage borrowers must qualify (on paper) at an interest rate that is the higher of: The rate being offered by the bank (the ‘contract rate’) + 2.00%… nkad3
