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What Makes a Self-Employed Mortgage Different?

What Makes a Self-Employed Mortgage Different?

All mortgage lenders need assurances that your income is sufficient to repay the loan. It is easy enough for them to have confidence that an employer accurately reports your wages, but it gets a bit murky when self- reporting of income is in play. When you are...

Breaking Mortgages: Is it Worth the Penalty?

Breaking Mortgages: Is it Worth the Penalty?

With mortgage rates becoming more competitive, it is common for many families to wonder if they would be better off breaking their current mortgage and obtaining a new one at a better interest rate. On the surface, that sounds like an excellent strategy, but it is...

A Mortgage Broker’s Take on Rural Boom Opportunities

A Mortgage Broker’s Take on Rural Boom Opportunities

Every cloud has a silver lining, and that could be the case with the pandemic, as well. Although the troubling aspects and sobering costs of the pandemic are undeniable, there are also some positive and profound changes that can mean new opportunities for Canadians...

Do mortgage deferrals appear on credit reports?

Do mortgage deferrals appear on credit reports?

Chances are your finances have been negatively affected by COVID-19 and you’re deferring your mortgage payments. It’s important to note that your credit report will show these deferrals. Typically, one’s credit report will indicate that there were deferrals for the...

New CMHC insurance regulation 2020

New CMHC insurance regulation 2020

CMHC Insurance Update 2020 The CEO of the Canada Mortgage and Housing Corporation (CMHC), Evan Siddall, is urging lenders and mortgage default insurers to tighten underwriting and qualification standards in order to salvage the economy. Mr. Siddall made the request in...

2020 CMA Speaker list – Educational Speaker Donna Mullens

2020 CMA Speaker list – Educational Speaker Donna Mullens

AWARD-WINNING CAREER ADVICE FROM FEMALE MORTGAGE TRAILBLAZERS The award-winning leaders reflect on key victories in their journey to the top and the insights gained along the way. Catch Donna Mullen at the all-new virtual Canadian Mortgage Awards 2020. Register below...

Canadian Mortgage Awards – 2020, Finalists

Canadian Mortgage Awards – 2020, Finalists

Donna Mullen nominated as a finalist at the 2020 Canadian Mortgage Awards Donna Mullen Mortgage Broker / Business Woman from Southern Georgian Bay has been nominated as a finalist for The Home Trust Award : Woman of Distinction. She has also been asked to speak ...

COVID-19 – Should you buy a home now, or wait?

COVID-19 – Should you buy a home now, or wait?

You have been making plans to buy a home when the COVID-19 hit Canada. Now, you’re wondering whether to go on with your plans or wait. The property market around the country is changing rapidly, but with record-low mortgage rates, now may be a great time to purchase a...

Canada Mortgage and Housing Rule Changes

Canada Mortgage and Housing Rule Changes

July 1 2020 These changes are not that different than what we deal with today. Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: Limiting the Gross/Total Debt Servicing (GDS/TDS)...

Down payment on a house Ontario

Down payment on a house Ontario

The challenge of a down payment on a house in Ontario There’s nothing quite like the satisfaction that comes from buying your first home. For many prospective buyers, however, the process can be really challenging. But what is the biggest obstacle facing first-time...

First time home buyer in Ontario

First time home buyer in Ontario

Seniors are making it more difficult for younger people to buy homes in Ontario and especially Toronto, CMHC report shows. A growing trend among Greater Toronto Area seniors to stay in their homes longer instead of downsizing has generated greater uncertainty for...

Millions of Canadians Too Ashamed To Seek Debt Relief

Millions of Canadians Too Ashamed To Seek Debt Relief

New Survey says Millions of Canadians Too Ashamed To Seek Debt Relief Are you struggling with debt and feel too ashamed to seek help? Well, Licensed Insolvency Trustees MNP recently conducted a poll which found that a whopping 46 percent of respondents failed to seek...

How to improve credit score quickly

How to improve credit score quickly

Credit scores constantly fluctuate, so it’s important to start taking steps to boost your credit score the moment you start your home search. The higher your credit rating, the better your chances of securing a mortgage, and the better your interest rates and terms....

How to get Mortgage with bad credit

How to get Mortgage with bad credit

You deserve a great future, not one troubled by a difficult past. Unfortunately, bad credit can make it difficult for you to get the important things you need, including the car or home of your dreams. In any case, credit history plays a major role in the mortgage...

Mortgage Renewal Tips

Mortgage Renewal Tips

If you're currently unsatisfied with the terms of your current mortgage, it's well worth seriously considering switching your mortgage lender. So that you'll be able to get the best possible value from your mortgage. In order to discover a variety of tips which have...

Collateral Vs Standard Charge Mortgage Comparison

Collateral Vs Standard Charge Mortgage Comparison

More and more lenders are shifting to collateral charge mortgages, so it is extremely important to know the differences between a standard charge mortgage and collateral charge mortgage. So which option is better for you? Both have their pros and cons so it all boils...

Which One is Better, Broker or Banker?

Which One is Better, Broker or Banker?

Ideally, you want the best priced mortgage with all the features you need so you can live comfortably and repay your loan within the shortest time possible. Depending on the type of mortgage, you could save a great deal of money by shopping around for your home...

The Four Phases of Retirement What to Expect When You’re Retiring

The Four Phases of Retirement What to Expect When You’re Retiring

Thursday, May 9, 2019 2pm-5pm at RecPlex 1724 Mosley St., Wasaga Beach We will be joined by best-selling author Riley E. Moynes (The Four Phases of Retirement) to discuss and answer the crucial questions we all have about retirement. Jointly hosted by CHIP Home Equity...

What is better MONOLINE lenders vs banks mortgages?

What is better MONOLINE lenders vs banks mortgages?

Whenever one of these major Canadian banks tweak their mortgage rates, it makes headlines. Like last month, when RBC dropped its five-year fixed-term mortgage rate by 0.15 percentage points (or 15 basis points) to 3.74 per cent. Every major news outlet in Canada...