Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage + MORE Dec 21st
Come January 2018, new Ontario mortgage applicants likely won’t be able to afford the same home they’ve set their eyes on this year, as they will be subject to new and stricter mortgage rules, posed by the Office of the Superintendent of Financial Institutions Canada (OSFI) and published in the.... More »
Switching to a better bank account Dec 17th
Almost every adult Canadian has a bank account, according to the Canadian Bankers Association. And there are practical reasons for that: most of us need a bank account to cover rent or mortgage payments, receive paycheques and to maintain our lifestyles.
But what if you’re looking for a bank acc.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Jun 20th
The Bank of Canada made a long-awaited rate cut on June 5, but the effects of lower mortgage rates have yet to trickle down into housing market data. That was evident in May, as real estate affordability continued to worsen for would-be home buyers.
The latest monthly affordability report from Ra.... More »
The real costs of buying a car Mar 31st
The thrill of driving a new car off a dealer’s lot is appealing, but experts warn not to let the new car smell go to your head when it comes to borrowing money to make it happen.
Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know.... More »
Big banks slash mortgage rates this week to reflect lower bond yields in Canada + MORE Jan 12th
Nearly all of the country's big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%)..... More »
Top Performers: Kelli Pardo
– canadianmortgagetrends.com
By Vanessa Chris, Special to CMT Some believe there are countless attributes that define a top performer in the mortgage industry, but for Kelli Pardo, only a few really matter. The key success ingredient for this Alberta-based Invis agent is establishing an airtight bond with clients, lender partners and referral sources. Throughout her five years in the mortgage brokering industry—and her previous 10 years with TD Canada Trust—Pardo was diligent at putting the human side of the business first. And that strategy paid off. “Brokers are a dime a dozen. You have to find a way to differentiate yourself…and, for me, it’s all about developing relationships,” she says. “This business READ MORE
Mortgage Career: True North Mortgage
– canadianmortgagetrends.com
Company: True North Mortgage Position: Salaried Mortgage Agent Location: Calgary, AB Send resume to: chad.riddell@truenorthmortgage.ca Salaried Mortgage Agent Company Overview: Salaried Mortgage Agent True North Mortgage is looking for a Salaried Mortgage Agent in Calgary, Alberta. Mission Statement: To offer Canada wide mortgages at best rates with friendly, informative and rapid service. Our retail locations enable clients to interact with our agents face to face.We offer a friendly work environment with a team based approach and team based bonuses. Job Description: Essential abilities: Willingness to work mall hours (some evenings and some weekends required) Residential mortgage industry experience; Friendly with READ MORE
Reduce debt and pay your bills to improve credit score
– moneysense.ca
OTTAWA – If you want to help improve your credit score, it’s a no-brainer that you need to start paying your bills on time and reducing outstanding debt.
But Gary Tymoschuk, vice-president of operations at the Credit Counselling Society, says you should also be careful about the amount of new credit you’re applying for.
“Don’t be out there applying for a Visa and a MasterCard, an American Express, new cellphone service and a new car loan and all these different things,” he said.
How your credit score impacts your mortgage application »
Tymoschuk said a flurry of inquiries over a short period of time on your credit report can be “a little bit of a red flag.”
“If you’re looking for a lot of credit, often times that can be a sign of a difficult challenging time in terms of managing your debt,” he said.
A credit report is a record of your past, including your payment history, how much you owe, how much new credit you’ve been searching for, the length of your credit history and the types of credit you have, Tymoschuk pointed out…
But Gary Tymoschuk, vice-president of operations at the Credit Counselling Society, says you should also be careful about the amount of new credit you’re applying for.
“Don’t be out there applying for a Visa and a MasterCard, an American Express, new cellphone service and a new car loan and all these different things,” he said.
How your credit score impacts your mortgage application »
Tymoschuk said a flurry of inquiries over a short period of time on your credit report can be “a little bit of a red flag.”
“If you’re looking for a lot of credit, often times that can be a sign of a difficult challenging time in terms of managing your debt,” he said.
A credit report is a record of your past, including your payment history, how much you owe, how much new credit you’ve been searching for, the length of your credit history and the types of credit you have, Tymoschuk pointed out…
Mortgage Career: Dominion Lending Centres
– canadianmortgagetrends.com
Company: Dominion Lending Centres Position: Director of Training, Western Canada Location: Port Coquitlam, BC Apply to: Jay@dlc.ca Director of Training, Western Canada Who We Are We are Dominion Lending Centres who through entrepreneurism, hard work and energy have become the largest Mortgage Brokerage in Canada achieving 40% Market Share in 10 years. In 2015, we funded $33 Billion in mortgages and helped 105,000 Canadians with their home financing needs from coast to coast. We have an incredibly innovative, competitive and fun head office team and are flat out looking for a fantastic team fit and one of the strongest trainers READ MORE
Mortgage Career: FICOM
– canadianmortgagetrends.com
Company: FICOM Position: Examiner, Mortgage Brokers Location: Vancouver, BC Apply to: Click here Examiner, Mortgage Brokers Join the FICOM team and make an important contribution to the economic stability of BC FICOM safeguards confidence and stability in British Columbia’s financial sector by protecting consumers from undue loss and unfair market conduct. We are responsible for administering nine statutes that regulate the pension, financial services and real estate sectors in British Columbia. For more information on FICOM, please visit the FICOM webpage. The Mortgage Broker team within the Real Estate and Mortgage Brokers department regulates the activities of B.C.’s mortgage READ MORE
