Uncategorized 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
Uncategorized 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
Uncategorized 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
Uncategorized 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
Uncategorized 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
Uncategorized 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
Uncategorized 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
Uncategorized 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