Mortgage Information

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Questions to Ask Your Mortgage Broker in Windsor

By |2019-05-14T10:37:15-04:00May 14th, 2019|Mortgage Information|

After deciding to choose a mortgage broker in Windsor, you naturally will want to ask them plenty of questions to not only understand the process of securing a mortgage and ultimately buying a home, but to ensure that you are choosing the right mortgage broker for the job and they are able to provide you with the best mortgage deals for you. While the following list is not exhaustive nor is it limited to, these are the questions you need to ask at your first meeting with your potential mortgage broker. “Is pre-approval an option at [...]

Mortgage Brokers vs. Banks – A Comparison

By |2019-05-14T10:31:12-04:00May 14th, 2019|Mortgage Information|

As you embark on the home-buying process for the first time, the road can seem daunting. The best place to start is like anything else: at the very beginning. Starting at the beginning means deciding if you should choose a mortgage broker in Windsor or opt for your local bank to fund your mortgage. Although both options have their advantages and disadvantages, it’s important to carefully consider which financing solution is right for you. You already have a relationship with your bank Most of us at least have some sort of history with our bank; those [...]

How To Apply For A Reverse Mortgage

By |2018-12-17T15:54:47-04:00December 4th, 2018|Mortgage Information|

Is a reverse mortgage right for you? Most people know that such a mortgage allows them to get cash from their home, but beyond that it’s a mystery. What’s the purpose of a reverse mortgage? More importantly, how do you apply for one if you know that your family could benefit from it? Our mortgage broker team is here to help. Below are the most important factors to consider when applying for a reverse mortgage, and what you must take into consideration as you decide whether it’s right for you. Why would you need a [...]

What Does It Take To Qualify For A Mortgage In Ontario?

By |2018-12-17T15:54:41-04:00November 27th, 2018|Mortgage Information|

No matter if you are a first-time homebuyer or it has been a while since you purchased your current home, you may be wondering what all goes into qualifying for a mortgage in Ontario. We can’t lie: there’s a lot that goes into it. Yet, we can easily break these down into a few simple steps. Having a trusted and dependable team of real estate experts in Ontario can make this process go swimmingly, so have no fear as you go forward. Below are the basics of qualifying for a home mortgage. Income [...]

Here’s What You Need To Know About TDS/GDS Debt Service Ratio

By |2018-11-08T09:17:07-04:00November 20th, 2018|Mortgage Information|

One of the most frustrating parts about buying a home is the sheer amount of confusing vocabulary you have to understand. There’s much to learn, and if you’ve been in the beginning phase of getting pre-qualified for your mortgage then you may have heard terms like, Total Debt Service (TDS) and Gross Debt Service (GDS) get thrown around. If you don’t know what these terms mean or even how they could impact getting a mortgage, don’t fret! Below are the most important things you need to know about TDS, GDS, and how they affect the [...]

First-Time Homebuyers Tax Credit: What It Is, Who’s Eligible

By |2018-11-20T09:52:25-04:00November 13th, 2018|Mortgage Information|

Nobody likes paying taxes – especially when you’re closing on your first home. It feels like yet another payment you have to make to finalize the deal; while discouraging, it’s an essential part of the process. Even so, first-time homebuyers may be eligible for a first-time homebuyers tax credit. If eligible, first-time homebuyers must either apply for a refund within 18 months of registering the conveyance deed or the date of the unregistered disposition (whichever the case may be). Who’s eligible? You must never have owned a home or even an [...]

What You Need To Know Before Breaking Your Mortgage

By |2018-11-06T11:39:49-04:00November 6th, 2018|Mortgage Information|

You may be sick of your current mortgage lender and want a better offer. Or maybe you like your lender, but you’ve ran the numbers and it breaking your mortgage seems like the best strategy for your family. Everyone has their reasons for breaking a mortgage and there’s nothing wrong with it. Every situation is different, so if you think breaking your mortgage will be helpful in the grand scheme of your financial situation, it’s worth considering. Even so, know there are ramifications to breaking your mortgage. Below are some of the penalties you are [...]

When Should You Refinance Your Mortgage?

By |2018-10-30T10:32:00-04:00October 29th, 2018|Mortgage Information|

Should you refinance now, or wait until later? Did the perfect window for refinancing already close, or is there a chance that it can be opened again? The answer seems like a revolving door: it’s changing all the time. Everybody wants the lowest rate possible and we can help, but when should you refinance your mortgage? Let’s look a little closer to help you figure out when it’s the right time to refinance. Lower interest rates This one is a no-brainer – although many borrowers opt to keep their current mortgage due to fear of [...]

Why Do Mortgage Rates Fluctuate?

By |2018-10-16T13:00:55-04:00October 23rd, 2018|Mortgage Information|

Before committing to buying a home, it’s important to understand the basics. This is true when it comes to your home’s mortgage: the types of mortgages, how they will affect you financially, and yes, even why mortgage rates go up and down over time. Knowing the ‘why’ of mortgage rate fluctuate will allow you to see the signs of when a potential rate-hike is coming. This allows you to plan ahead and brace yourself for the potential fallout (you’re also being a responsible, future homeowner). Below is a quick guide on how and why mortgage [...]

What to Expect on Closing Day

By |2018-10-16T12:56:10-04:00October 18th, 2018|Mortgage Information|

It’s arguably one of the biggest days of your life. There are moments in our lives that we will always remember vividly for the rest of our lives: our wedding day, the birth of children, graduations, and certainly the closing on your very first home. The sense of pride you will feel cannot be put into words – but before that big day, you need to know exactly what to expect. It’s a big day that should be treated as equally important. Before closing day, keep these few things in mind to ensure the process [...]

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