fbpx

HOMEPORTAL

Homeportal

Menu

mortgagerates

Reasons a robust labour market could affect your mortgage interest rate

Blogs / / / , , , , , , , ,

Reasons a robust labour market could affect your mortgage interest rate Over the past year, Canada’s job market has been red hot thanks to the country’s booming economy and the easing of pandemic lockdowns. Statistics Canada’s most recent data confirms this trend. In December, the national employment rate rose by 0.5% from November (representing an […]

Reasons a robust labour market could affect your mortgage interest rate Read More »

Difference between Pre-qualification and pre-approval

Blogs / / / , , , , , ,

Difference between Pre-qualification and pre-approval The terms pre-qualified and pre-approved are often used interchangeably but mean essentially the same thing. There is a subtle but significant distinction between the two concepts, even though they share some common meaning. Getting pre-qualified for a mortgage is typically a lot simpler and quicker procedure. However, getting pre-approved will

Difference between Pre-qualification and pre-approval Read More »

Quick tips for first-time homebuyers

Blogs / / / , , , , , , ,

Quick tips for first-time homebuyers How will someone know when it’s “the proper moment” to buy a house? maybe a question you have if you’ve been considering it. Is it still ok to think about buying if you don’t have a 20% down payment saved up? Like any major undertaking, the secret to a smooth

Quick tips for first-time homebuyers Read More »

Mortgage broker or Lender: which is the best?

Blogs / / / , , , , , , , , ,

Mortgage broker or Lender: which is the best? Because they are already familiar with the bank and do business there, some first-time house buyers decide to apply for a mortgage there. There is nothing wrong with this strategy. Some people or couples like to keep all of their financial connections, so to speak, under one

Mortgage broker or Lender: which is the best? Read More »

What is mortgage stress test?

Blogs / / / , , , , , , ,

What is mortgage stress test? The mortgage industry is currently undergoing a “stress test,” you may have heard about. It’s the guidelines that mortgage providers use to figure out whether a borrower is eligible for a loan, and if so, how much of a loan they can get. It’s still valid for purchasers with a

What is mortgage stress test? Read More »

Mortgage pre-approval and its requirements

Blogs / / / , , , , , ,

Mortgage pre-approval and its requirements To get pre-approved simply implies that all of the necessary paperwork has been completed. Basically, you need to organise your financial documents (credit report, proof of income, and a calculation of how much of your salary will go toward paying off debt) before you can even begin to shop for

Mortgage pre-approval and its requirements Read More »

What is mortgage affordability?

Blogs / / / , , , , , ,

What is mortgage affordability? After saving up for a sizable down payment, you should then determine how much of a mortgage you can afford, which is the amount you will pay back to the lender each month along with interest. Your mortgage will equal the purchase price of your property minus the amount you have

What is mortgage affordability? Read More »

Essential facts about mortgage

Blogs / / / , , , , , , , , , ,

Essential facts about mortgage A mortgage, at its most basic, is a debt taken out to finance the purchase of real estate. A mortgage, like any other loan, has parameters such as an interest rate and an amortisation (payment) schedule. Mortgages are secured by the collateral of the home itself. This means that the mortgage

Essential facts about mortgage Read More »