As of October 11, 2024, the Canadian mortgage industry has entered a new era of regulatory oversight. The Financial Transactions and Reports Analysis Centre of
Understanding Debt-to-Income Ratio for a Mortgage in Canada When applying for a mortgage in Canada, one of the critical factors lenders assess is your debt-to-income
B20 makes it hard to get approved You may have heard your mortgage professional use the term “b-20” during your mortgage application. Typically, it is
Job change impacts your mortgage approval Changing your job doesn’t always cause havoc Changing jobs while buying a house doesn’t always derail your loan application.
The stress test is applied to all mortgages. Stressing a mortgage rate happens when you are quoted an interest rate. Every Broker/Agent must apply a
A vendor take back is the process where a seller of a home takes back a portion of the equity as a mortgage loan. V.T.B.s
All mortgage commitments have a funding date. The funding date signifies when the funds for your mortgage will be released. If a date cannot be
In the world of mortgage lending, a mortgage commitment and intent to lend are two very different terms. Understanding this difference is crucial for anyone
Have you ever wondered what a Lender looks at when it comes to giving you a mortgage? And yes, there are specific qualifications and standards.
Everyone wants the best rate. It’s incredible to think that the best rate comes with a price. That price is insurance. But nevertheless, you get
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Windsor Office: 1821 Provincial Road, Unit 201, Windsor, N8W 5V7
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