On October 17th mortgage qualification changed, and as per recent developments, November 30th will see another change come into effect On October 2nd, 2016 the Federal Government announced that there would be changes to mortgage qualification, and that those changes would be implemented as of October 17th, 2016. Those changes primarily revolved around the concept of trying to…
Upcoming changes to mortgage qualification made by Ottawa could affect your ability to purchase a home after October 17th, 2016 The Federal Government will be requiring mortgage lenders in Canada to conduct what is being termed a ‘stress test’ for mortgage borrowers taking out a fixed rate mortgage of 5 years or longer. The stress test involves qualifying…
Not all mortgage pre-approvals are the same Before you start shopping for a home this spring, you’ll want to get yourself pre-approved for a mortgage. Everyone will tell you that. But, not all mortgage pre-approvals are the same. When speaking with your mortgage broker, and getting yourself pre-approved for a mortgage it is incredibly important…
Get yourself pre-approved before you even start thinking about shopping for a house -here’s why The process of purchasing a home is exciting, its exhausting, and its emotional-and if you don’t know what you can afford, it can be incredibly disappointing. Getting yourself pre-approved by a mortgage broker BEFORE you even begin looking at potential…
