What to Do If Your Mortgage Renewal Gets Denied When your mortgage matures, it indicates the end of the current term of your loan. When your term is shorter than your amortization period, you have to go through the renewal process several times until you pay off the entire loan. Before your term expires, your […]

Your Guide to Renewing Your Mortgage with a Mortgage Broker When you qualify for your first mortgage, you may feel like you can rest easy. After all, the mortgage is already in place. Be careful, your mortgage journey does not end there. Eventually, your mortgage term will come to an end. Whether it’s one, five, […]

6 Things all Co-signors should consider Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing measure. […]

How to Verify Your Down Payment When Buying a Home Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. To fulfill the conditions of your mortgage approval, it’s all about what you can prove (hard to believe – but some people have lied in the […]

People who are self-employed face unique challenges in getting approved for mortgages. One reason for this is because most self-employed individuals minimize their reported income for tax purposes. This can be great for saving money, but not so great when applying for a self-employed mortgage, as most lenders use a borrower’s income as a prime […]

As a self-employed person myself, I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018, the CMHC has said “Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond […]