How to Prepare For Mortgage Rate Increases

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Can your budget handle a rate increase? There is a bunch of talk about Canadian mortgage rate increases. The single biggest investment most Canadians make is their home; this represents almost 40% of the average family’s total assets. The big problem at the moment is that many Canadians are living in homes they won’t be able to afford once interest … Read More

How to Negotiate Your Mortgage Rate

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It’s time to start bargaining! It goes without saying that you would like to secure the lowest possible mortgage rate. With that being said, negotiating your best mortgage rate will entail some homework. This way, you’ll be able to work out a fair request. Here are a few tips on how to negotiate the best Canadian mortgage rate. 1. Be … Read More

How to Know When You’re Ready to Purchase a Home

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Think you are ready to be a homeowner? Here’s exactly how you can tell! 1) You have a budget Factor in homeowner’s insurance coverage, property tax, fees, upkeep costs, and the best  available home mortgage rate. 2) You have a sizeable down payment. Generally, you’ll need a down payment worth 20 % of the house price. 3) You have a … Read More

Ways to Obtain a Mortgage When You’re Self-Employed

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Own your own company? Find out how you could have a house too! Data shows that almost 20% of all income earners in Canada are now self-employed. Today, lenders desire evidence of a steady income. Here are a couple of ways to ease the process and raise your possibilities of obtaining a low mortgage rate. Document Every Penny You’ll be … Read More

How to Calculate How Much You Can Afford

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Know what you can afford – get a mortgage pre-approval. When it pertains to securing a mortgage, people would like to be aware of the amount of money they are able to borrow. The following are a few quick formulas to assist you to determine exactly what you are able to afford. Loan to Value (LTV) Lenders will only allow … Read More