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The True Cost of Purchasing a Home

Purchasing a new home is a major expense. It is one of the largest purchases that an average Canadian will make, and it is one that comes with many costs attached. If you are planning on buying your first home, you may want to stop and think about the true cost of purchasing a home. The True Cost of Purchasing a Home The hidden costs of purchasing a home are certainly not enough to turn most away from buying a house, but...

Save Money On Your Mortgage In 3 Simple Steps

If you actually sit down and calculate the amount of interest you pay on a mortgage you’ll find yourself clutching your stomach and running for the bathroom. It’s disgusting. But hey, don’t worry! There’s hope. You can actually save money on your mortgage and lower the amount of interest you pay. How Do You Save Money On Your Mortgage? This infographic I dug up explains three simple things you can...

How To Establish A Credit Score Fast And Why You Need To Start Now

First things first. If you’re wondering how to establish a credit score fast, the first step is to get credit. This may be in the form of credit cards or other loans. It is best to start early, like while you’re still studying. Student loans are a great kick-off for establishing your credit score. For college graduates and the employed, you can start with a credit card or an auto loan. You can then build up your...

How Your Credit History & Credit Score Impact Mortgage Rates

Can your credit score impact mortgage rates? Whenever you take loans or borrow money from a lender, you automatically gain scores that serve as a basis for future loans. These scores are what they call your “Credit Score.”   The next time you take another loan, banks and lending companies can pull out these “score sheets” and scrutinize them to see how good of a borrower you are (translation: how well you paid back...

How Do Mortgage Brokers Get Paid?

Having established a career and perhaps even begun a family, many people decide because of space limitations, location or just as a financial investment that home ownership is their next logical step in life. At this point a complicated process begins to find the right home and to finance that investment. One of the common questions I’m asked from new clients is “How do mortgage brokers get paid?” How Do Mortgage...

What Is The Mortgage Process?

The idea of applying for a mortgage can be intimidating if you’ve never done it and don’t understand what is the mortgage process. However, after taking time to learn more about the various stages of the loan process, you’ll learn that there is nothing to dread. Most people will purchase at least one home in their lifetime. Many will purchase several homes over the years, and may also refinance a home at...

Mortgage Broker Versus Bank – Which One Should I Choose?

If you’re getting ready to get a new mortgage, you may be wondering what the advantages are of using a mortgage broker versus bank. After all, you’ve likely developed a great working relationship with your bank over the years. You may have a personal banker you turn to with issues about your checking or savings account. The bank’s logo is emblazoned on your debit card, checkbook and other financial items...

What Are The Documents Required for Mortgage Approval?

The process of being approved for a mortgage can be a very long and stressful experience. In order to speed up this approval process, you’ll need to provide the lender with all of the documents required for mortgage approval in advance. Then a little bit of patient is needed while the lender reviews all of the documents required for mortgage approval to make sure you’re able to make your payments on the loan....
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