There seems to be some confusion about what it actually means to co-sign on a mortgage… and any time there is there is confusion about mortgages, it’s time to give me a call! Let’s take a look at why you would want to have someone co-sign your mortgage and what you need to know before, …
WOULD A CO-SIGNER ENABLE YOU TO QUALIFY FOR A MORTGAGE? Read More »
This post applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then you should rush to ‘lock in’? You mean the economists that are employed by …
Leverage, defined by Investopedia as an investment strategy of using borrowed money — specifically, the use of various financial instruments or borrowed capital — to increase the potential return of an investment, is a core strategy of real estate investors. I must remind readers that the amount of debt placed on a property is a …
I am often asked if it’s hard to compete with the banks. While they may offer competitive rates at times, right now I have much better rates than the banks. However, I have certain advantages which allow me to blow them out of the water most of the time. More Choice – banks are limited to …
4 REASONS WHY MORTGAGE BROKERS ARE BETTER THAN BANKS Read More »
So now that you’re a home owner, what are your next steps? Well first, you will have to figure out exactly how you are going to get RID of that mortgage. Yes, that’s right. Now that you got it, here are four ways you can pay it off and be done with it! 1. ACCELERATE …
CONGRATULATIONS ON THE MORTGAGE! NOW LET’S GET RID OF IT! Read More »
Over the last month, as the big banks and many of our monolines mortgage lenders wind down their fiscal year, we are starting to see some very obvious changes in what your credit score can get you. I heard a few months ago that 720 beacons were going to become the new 650. The 650 …
LOOKING FOR A MORTGAGE…YOU BETTER KNOW YOUR CREDIT SCORE Read More »
Since we know that lenders can back-end insure our mortgages (please read our Mortgage Insurance Market and Wholesale Lenders article first), and that this specifically makes these mortgage investments more attractive to investors, what does it mean for borrowers (every day people like you and me)? To recap, any mortgage that is inexpensive for a wholesale lender …
A Guarantor, when it comes to mortgages, is exactly what it sounds like—they “Guarantee” the mortgage for another person if they are unable to pay back the loan. Guarantor’s or co-signers are often used if someone has: • Damaged or poor credit • Insufficient income In most cases, someone with poor credit and/or insufficient income …
There is a myth out there that once you’re pre-approved for a mortgage, you’re good to go out and buy a home… with a no subject offer… DON’T do it! A pre-approval means that based on being able to PROVE (through documentation) your CURRENT income, expenses, down payment and credit bureau you SHOULD be able …
PRE-APPROVED FOR YOUR MORTGAGE… WHAT DOES THAT REALLY MEAN? Read More »
As many of you already know, Canada just became the second country in the world to legalize marijuana for medical and recreational purposes. Of course, this historic moment in Canadian history has cannabis activists jumping for joy while others are not s-toked on the idea. With legalization comes the realities of growing your own pot …
GROWING CANNABIS AT HOME? LET’S WEED THROUGH THOSE MORTGAGE ISSUES! Read More »