Choosing the Right Mortgage Payment Frequency
Should I Accelerate My Mortgage Payments? Most potential homeowners look for ways to get the lowest mortgage rates possible. However, the length of the repayment period, called amortization, is often forgotten or overlooked. This affects how long it will take to repay your mortgage, as well as how much interest the bank will collect from […]
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Everything You Need To Know About The Mortgage Stress Test
Confused About The Mortgage Stress Test? Here’s How It Works Since 2018, all home buyers in Canada have been subject to a mandatory mortgage stress test. This applies to everyone hoping to get a mortgage, no matter what your down payment might be. Many Canadians find the stress test strict and confusing. Others have difficulty […]
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Common Mortgage Pitfalls And How To Avoid Them
Set Yourself Up For Success Throughout Each Step of the Mortgage Process Purchasing a new home can be a lengthy process that involves plenty of hard work. One of the most important steps to ensuring a successful home purchase is securing a mortgage. Since the mortgage plan you select will determine important long-term factors like […]
Read moreEverything You Need to Know About Debt-to-Income Ratio Before Applying For a Mortgage
How and Why This Number Can Affect Your Mortgage Prospects If you’re thinking of buying a home and will need to obtain a mortgage, be aware that two of the things lenders will ask about are how much debt you have and how much money you make. They use these numbers to calculate your debt-to-income […]
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