Mortgage Pre-Approval: How to Improve Your Credit Score + MORE Jul 5th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News

Latest in Mortgage News: Stress-Test Rate Drops After a Year of No Change Jul 20th

The benchmark posted 5-year fixed rate, which is used for stress-testing Canadian mortgages, fell yesterday in its first move since May 2018. The Bank of Canada announced the mortgage qualifying rate drop to 5.19% from 5.34%. This marks the first reduction in the rate since September 2016. The rate .... More »
 secure line of credit

Is Now a Good Time to Buy Real Estate in Victoria? Jul 11th

Thinking about buying real estate in Victoria? While some might suggest waiting a year or two for housing prices to come down, now might be a good time to start looking. The quarterly report on Vancouver’s housing market indicates while prices are starting to come down, inventory is high. So, sho.... More »

Mortgage Growth Slows, Alt-Lender Share Grows: CMHC Jul 17th

Canada’s mortgage market grew by its slowest pace in more than 25 years in 2018, according to new data released by the Canada Mortgage and Housing Corporation. At the same time, the share of the market controlled by alternative lenders—which typically lend to riskier clients and charge higher in.... More »
Mortgage Pre-Approval: How to Improve Your Credit Score
Are you interested in learning about the mortgage pre-approval process? Or, do you want to learn how to improve your credit score? One of the biggest steps you’ll take in life is buying a home. And, while you might want to go and pick out your dream home first, this is a mistake. You need to get pre-approved first so you’ll know how much money a lender (bank) will give to you. You’ll also need a good credit score to lock in the best interest rates. But, if your credit score is low, don’t worry. There are several ways to improve it.
Here’s how to increase your credit score and get pre-approved for your dream home (so you can go pack!).
Steps for Mortgage Pre-Approval
Often, when people shop for their first home, they hop online and check out the real estate websites. Or, they drive through their favorite neighbourhoods and pick out a place. They might even stop in at an open house and take the tour. While it’s exciting to search for a home with the gorgeous landscaping or the huge master suite, that’s actually Step 3 in the homeownership search…

Continue Reading On ratesupermarket.ca »

Thanks to tighter mortgage qualification rules and higher-priced real estate—particularly in the greater Vancouver and Toronto areas—it’s not always easy to qualify for a mortgage on your own merits. You may very well have a great job, a decent income, a husky down payment and perfect credit, but that still may not be enough. When […]

Continue Reading On canadianmortgagetrends.com »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!