Before meeting with a real estate agent to go house hunting, it’s a good idea to meet with a loan officer first to make sure you qualify for the type of mortgage you desire. Once you have an idea of what suits you best, learning the steps to getting a mortgage comes next. The best place…
Below are some definitions of commonly used terms regarding real estate and mortgages. If you are planning on buying or selling a home in the Ottawa area or anywhere in Ontario for that matter, you should familiarize yourself with some of the terms. Contact me for any questions! The main information provided for these definitions…
You’ve cut back on Starbucks, taken a second job and borrowed money from mom and dad. Well done! You are ready to put down a wad of cash to cover the 20% down payment on your first property. But don’t make first-time homebuyer mistakes, like trusting your bank to look after you. In reality, the…
Promises of easy money in real estate are something to be wary about. Consumers who intentionally misrepresent information when buying or refinancing a home are committing mortgage fraud. What is Mortgage fraud? Mortgage fraud happens when someone knowingly misrepresents information in order to gain a mortgage loan that would not have been granted if the…
Like any big life decision or major purchase, buying your first home demands careful consideration, planning and preparation. However, not everyone has the patience and time to do the research. Some mistakes can and should be avoided especially if they end up costing home buyers a lot of money. Read on for a list of the most…
The Bank of Canada is the first central bank in the Group of Seven to slash interest rates in response to plunging oil prices, saying the shock will contribute to inflation and business spending. The Bank of Canada shocked economy experts and financial markets on Wednesday January 21st by cutting its benchmark overnight interest rate…
The price of a house is perhaps one of the most crucial factors in the home buying process, though it can be so easy to oversee its weight once the house hunt begins. $10,000 of cushion can become a $30,000 compromise in a small matter of time. You need to evaluate your budget and establish…
You are a considering becoming a first time home buyer and you may have a lot of questions about mortgage loans. If you would like to understand the home buying process better and are looking for that perfect mortgage feel free to contact me to get all the information you require. For most first time…
You are a lucky new homeowner! Congratulations! You have searched and finally found your dream home. You have secured your mortgage and gone through real estate brokers, home inspections, lawyers and shopped around for insurance. You’ve done your homework on closing costs and signed a ton of paperwork. This has been a busy and exciting…
Statistics show that nearly 20% of all income earners in Canada are now self-employed (at least part-time). We often question why it is so difficult for this growing demographic to get a mortgage. Some of the issues include the fact that income for the self-employed is usually hard to prove. Many business-for-self owners are…
