Blog
Experience That Matters
THE LOW-DOWN ON MORTGAGE RATES
How many consumers know what does Annual percentage (APR) means? It is funny when people search for a mortgage, whether it is for a purchase money mortgage, refinance, second mortgage, personal or installment loan, auto loan, etc., they are focused on the rate only. All lenders disclose interest rate, monthly payment, terms, late charges, penalties, […]
HOW TO FIND THE BEST MORTGAGE IN SURREY
If you are in the market for a mortgage for purchase, refinance, switch, second mortgage or a home equity line of credit, then the first thing you need to do is to find a good mortgage broker in Surrey. Most people just call one mortgage broker and then just apply with that mortgage broker. It […]
What You Need To Know About A First-Time Homebuyer Mortgage
Buying your first home is very exciting and because it is such a big investment, it is important that you are aware of every detail surrounding the purchase. This is a very big financial decision and there is a lot to consider, including a deposit, a mortgage, and the monthly payments, which you need to […]
What Can a Mortgage Broker Do That My Bank Can’t?
When it comes to a mortgage, most people turn to traditional banks but it is important to know that this is not your only option. Banks have strict criteria and not everyone will be approved for a mortgage, so there is a chance that your mortgage application can be declined. If you want to explore […]
3 EASY STEPS TO GET THE BEST MORTGAGE IN SURREY
So, you have decided to either purchase your dream home or refinance your existing mortgage or take out a second mortgage. In either case, if you just take the following three steps, you will make the mortgage approval process easy for yourself and your mortgage broker. Your Mortgage Broker in Surrey will appreciate your preparedness. […]
Comparing A Home Equity Loan Vs. A Home Equity Line Of Credit (HELOC)
Using a home equity loan or a home equity line of credit will allow you to access your equity in cash but it is important to understand the advantages and disadvantages of each so that you select the option that is best for you. Knowing the pros and cons is a must because you will […]
5 Smart Ways to Use a Home Equity Line of Credit in Surrey
A home equity line of credit allows you to borrow money against your home, and while this is a great way of tapping into the value of your home, you do have to be cautious about your spending. You could use the money to go on a fancy vacation or to buy the latest electronics […]
5 Mortgage Tips to Help You Buy a Home In Surrey
Buying a home is not an easy thing to do. The thought alone can feel overwhelming and the market can make this seem like an impossible goal to achieve. Purchasing a home is a very big investment but as challenging as it may seem, there are ways of turning this dream into a reality and […]
HOW TO GET THE BEST MORTGAGE RATE
HOW TO GET THE BEST MORTGAGE RATE Jeet Singh Just like any other shopping, finding the best mortgage rate for yourself in Surrey or Vancouver or for that matter anywhere in BC, Canada, takes shopping skills, good judgment, time, and tenacity. First thing is to determine whether you qualify for a Bank Mortgage, Alt-A […]
How To Pick The Best Private Mortgage
If you have been declined by your bank and also by an Alt-A Bank or a “B” Bank, then your best option is to get a private mortgage. What is a private mortgage? A private mortgage is a mortgage provided either by a Mortgage Investment Corporation (MIC) in Canada or by a private individual investor. […]
PRIVATE MORTGAGES – A Lifeline for the economy
Bank, Conventional or Residential mortgages are ideal for a borrower with good income and good credit. Such a borrower is considered an ‘A’ or a prime borrower.
What Is a Second Mortgage in Vancouver?
When you buy a home and let’s say you put 20% down and borrow 80% mortgage. That mortgage is called a first mortgage as it is in the first position on the title of your property.
Stress Test – How does it affect you.
What goes up must come down! By the same token, what goes down must come up! After almost a decade of warning and keeping the rates same for last 7 years, the Bank of Canada has finally started to hike its Benchmark Interest Rate and as of September 2018, the Bank of Canada’s Benchmark Rate […]
Documents Required For a Mortgage Application
What kind of supporting documents does the bank require for a mortgage application? The list of the supporting documents for a mortgage application varies a little bit depending upon what kind of borrower you are. Are you a salaried person? If so, then the list of documents required is pretty standard. But if you are […]
THE MORTGAGE APPROVAL PROCESS
How does the mortgage approval process work? Even though each bank or lender has its own requirements, procedures and steps but they all lead to one finding: does the borrower have the ability and the willingness to fulfill his or her obligation. The Application The mortgage approval process starts when the lender receives your signed […]
