homebuyers

homebuyers

Complex mortgage rules boost value of mortgage brokers

   More complex mortgage rules boost the value of mortgage brokers.  The last quarter of 2016 brought considerable change to Canada’s residential mortgage business. In October, the Department of Finance Canada announced new mortgage rules that have had a tempering effect on the market. Then, in late December, the Office of the Superintendent of Financial [...]

By | February 8th, 2017|Mortgage Rules, Mortgage Tips|Comments Off on Complex mortgage rules boost value of mortgage brokers

CMHC Mortgage default Insurance

No one wants to inflate a housing bubble by encouraging folks who can’t afford the debt to buy. But many creditworthy first-time homebuyers are paying much more than they should have to for a significant portion of their housing purchase. When it comes to mortgage default insurance, Canadians get little choice and sky high prices, [...]

By | November 25th, 2013|Economy|Comments Off on CMHC Mortgage default Insurance

What to do when your credit score is too low for a mortgage

If you're preparing to buy a home, you probably know that your credit score is  important. Maybe you've already been turned down for a mortgage because of a low  credit score. Or maybe you've recently pulled your credit report, only to  realize that your credit is worse than you expected. Don't give up on buying [...]

By | November 8th, 2013|Budgeting|Comments Off on What to do when your credit score is too low for a mortgage