Getting A Mortgage While Self-Employed: 3 Key Things To Consider

General Melanie Ide 12 Oct

While many people make a good or even great income, being self-employed can make getting a mortgage or other loans more difficult. However, this doesn’t mean it’s impossible. There are just a few more things to take into consideration. While you can use an online mortgage qualifier calculator, it’s often helpful to seek the advice of […]

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SAVING FOR A DOWN PAYMENT

General Melanie Ide 14 Sep

What prevents many potential homeowners from buying a home is the lack of a down payment. Many first-time home buyers are receiving down payment gifts from family. Unfortunately, many are not in this position and need to plan to save their own down payment. When you can visualize the benefits of owning your own home […]

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HOW MORTGAGE RATES WORK

General Melanie Ide 5 Sep

Ever wonder how your mortgage rate is determined? What factors make it jump from percentage to percentage? We are getting down to the nitty gritty today and giving you the facts on what impacts mortgage rates. What affects a Mortgage Rate? There are 10 factors that affect a mortgage rate: 1. Location Depending on which […]

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SECRETS FOR BUILDING YOUR CREDIT

General Melanie Ide 15 Aug

Over the years, I have come across all sorts of people who have had no idea what their credit score is. Some of them have declared to me that they have great credit only to find that they had poor credit scores or a number of late payments. I have also had people tell me […]

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RATE INCREASES AND YOUR ARM VS VRM

General Melanie Ide 11 Jul

Some of you are going to ask what is a ARM and VRM? These two acronyms are mortgage speak for adjustable rate mortgage and variable rate mortgage. These two mortgage products are both based on the prime rate of interest, in most cases this is 2.70% at the bank. TD chose to be higher by […]

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How to improve your credit score

General Melanie Ide 6 Jun

A credit score of 700 gets you the best lending rate from the banks. But if you’ve missed some bill payments—or worse, filed for bankruptcy—you’ll have to work strategically to build your score back up. These tips will help you do it as quickly as possible. KNOW YOUR LIMITS Try to keep your credit-card balance […]

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SELF EMPLOYED? 8 TIPS TO HELP YOU QUALIFY FOR A MORTGAGE

General Melanie Ide 31 May

Since 2012, it’s become the wild west of mortgage options out there for those folks who are living the Canadian dream of being Self Employed (also known as BFS, Business for Self).  In 2012, the Office of the Superintendent of Financial Institutions introduced Guideline B-20, which required federally regulated banks to tighten the rules for […]

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MORTGAGE FACTS TO KNOW BEFORE YOU BUY

General Melanie Ide 23 May

Buying a home can be a really exciting time, so the last thing we want is for you to be hit by any surprises. Let’s take a look at five things to keep in mind before you write an offer. Get your mortgage in place before you write an offer. Meeting or speaking to an […]

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