Mortgage Broker Serving Windsor, Tecumseh & Leamington

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The Impacts of Rising Interest Rates on Mortgage Holders

People are keeping a close eye on the cost of living in Canada, especially with rising interest rates impacting mortgage affordability. Understandably, they are concerned about their financial well-being after several Bank of Canada interest rate hikes and the cost of inflation cutting into already delicate budgets. This informative guide deep dives into how fluctuating […]

Why Banks Turn Down Loans

If you’re hoping to get a loan, you might be worried about having your application rejected. Or you might have already been turned down by a bank and you’re not quite sure why. When you’re applying for a loan, it’s a good idea to understand why banks turn down loans so you can do you’re […]

The Basics of Getting a Second Mortgage

A common question we hear often is “how does a second mortgage work?” and these questions are usually followed by requests for more specific details. A second mortgage is similar to the first mortgage you took out to buy your home. However, a second mortgage is taken from the equity on your home. What is […]

All You Need to Know About Mortgage Prepayment Penalties

Surprisingly, many mortgage loans have prepayment penalties that restrict your flexibility and even drain your bank account merely for trying to manage your money correctly. Being punished for getting ahead of the game sounds ridiculous, and we aim to explain why.    What is a mortgage prepayment penalty?   Some lenders charge a fee when […]

First-time Home Buyer Incentive 101

Buying your first house is a significant milestone in a person’s life. Unfortunately, it can be a somewhat intimidating application process that hedges on whether you get the property you want when you want it.  Looking for a mortgage is far less exciting than home shopping, but your realtor or broker may ask if you […]

Mortgage Approval in 2022: Credit Score Requirements

Depending on the lender, a credit score of between 620 and 680 would be the minimum viable requirement in order for you to be approved for a mortgage. For larger lenders across Canada, 680 and above would be the most likely credit score number you need to be approved. For smaller lenders, you may be […]

Five Most Important Questions to Ask About Your Mortgage

If you are ready to buy a home, one of the most important things you will need to do is secure a mortgage. With so many different options out there, it can be confusing to know where to start. To help you make the right decision for your situation, here are five of the most […]

The Best Way to Monitor Mortgage Rate Changes

Purchasing a home is likely the most significant investment you will ever make. Most Canadians will take out a mortgage to cover the majority of the cost. They will likely also pay a lot of interest throughout the term of the loan. The interest rate on a mortgage is referred to as the mortgage rate. […]

How Are Mortgage Interest Rates Calculated?

Your mortgage rate is important. If you get a lower rate, you could save a significant amount of money over the life of your mortgage. To calculate your monthly interest rate, take the overall interest rate and divide it by your payment period. Multiplying your principal by the monthly interest rate tells you your monthly […]

To Buy or Not to Buy?

If you’re currently renting your home, you may have thought about whether it makes sense to buy instead. Home ownership is a key milestone and one that you may be ready for. Current mortgage rates remain quite low, so this could be a good time to buy a home. However, the question of whether to […]

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