The government agency that regulates mortgages in Canada (The Office of the Superintendent of Financial Institutions) made several dramatic changes today that everyone should be aware of. If you're planning on moving or refinancing in the near future, then these...read more
Without question, the past few months in the mortgage industry have been challenging. There have been numerous changes that have completely altered the mortgage lending landscape. Here is a summary of the changes we have seen: 1) Stress Test: As of October 17th, all...read more
As you may have heard by now, the government introduced some important changes this week that will have a fairly significant impact on the mortgage industry going forward. The changes were not expected and seem to have come out of nowhere, with little consultation from industry representatives.
While there were a few major changes, there is one in particular that has been highlighted and will have the greatest impact on the everyday homebuyer.read more
We are often asked to explain why a client should choose to work with a Mortgage Broker (versus their bank, credit union, etc.). The simple answer (the one that we’ve all heard) is that a mortgage broker offers a variety of mortgage products from multiple lenders and banks, whereas other financial institutions only offer their individual mortgage product. More choice means the client has access to more products, better interest rates, and a solution that better fits their needs.read more
Your credit score is a key element when applying for a mortgage. It is very important that you take care of your credit from the day you get your first credit card. Small credit issues can haunt people when trying to apply for a mortgage, even if those issues were years ago.
Here are a few tips to help ensure you maintain a clean credit profile:read more