Mortgage Blog

Category: Mortgages (23 posts)

How to Improve Your Chances of Being Approved for a Mortgage

How to Improve Your Chances of Being Approved for a Mortgage

December 24, 2018 | Posted by: Carlos Tovar

For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ... [read more]

The Pros And Cons Of Reverse Mortgages - A Quick Guide

The Pros And Cons Of Reverse Mortgages - A Quick Guide

November 28, 2018 | Posted by: Carlos Tovar

No matter how carefully you plan, life can put a dent in your retirement funds. A life-altering accident or illness can turn your life upside down. Dipping into your retirement to meet uncovered expen ... [read more]

Why do Mortgage Rates Change?

Why do Mortgage Rates Change?

October 23, 2018 | Posted by: Carlos Tovar

Let’s take a look at the factors that influence fixed and variable mortgage rates. Fixed Mortgage Rates The main factor affecting fixed mortgage rates is Government of Canada bond yields.&nb ... [read more]

New CMHC Self Employed Program Makes It Easier For Self Employed Borrowers

New CMHC Self Employed Program Makes It Easier For Self Employed Borrowers

July 30, 2018 | Posted by: Carlos Tovar

Earlier this month Canadian Mortgage and Housing Corporation, the federal government mortgage insurance agency announced that they will make it easier for self-employed home buyers to get a mortgage ... [read more]

Borrowed Down Payment Program

Borrowed Down Payment Program

July 9, 2018 | Posted by: Carlos Tovar

The flex down mortgage is an option where you can borrow the money for your down payment from a third party. This may include personal loans, lines of credit or personal loans. Please keep in mind ... [read more]

Renewing your mortgage?

Renewing your mortgage?

June 25, 2018 | Posted by: Carlos Tovar

A great number of Canadians renew with their same lender, but it’s still important to check out your mortgage options. Rising mortgage interest rates and new stress testing rules are mak ... [read more]

Are interest rates important?

Are interest rates important?

June 25, 2018 | Posted by: Carlos Tovar

What is the first thing that comes to your mind when you are thinking about getting a mortgage? If you are like the majority of Canadians you probably would say: rate. Although rate is important in ... [read more]

A pre-approved mortgage can help  you look for a home with confidence

A pre-approved mortgage can help you look for a home with confidence

June 4, 2018 | Posted by: Carlos Tovar

Looking for the home of your dreams? Many homeowners think the first step is to start going to open houses and researching the market. However, even before you start looking for a house, it can be ... [read more]

Mortgage application tips

Mortgage application tips

May 16, 2018 | Posted by: Carlos Tovar

The Importance of Being Prepared The most common reason for delays in getting approved for a mortgage is missing or incompleteinformation. As a home buyer, the best way to make sure your mortgage o ... [read more]

How much will my home really cost?

How much will my home really cost?

April 16, 2018 | Posted by: Carlos Tovar

Once you know what kind of mortgage you want and the price of the house you can afford, you should add up all of the other costs involved inbuying a house so that you know the true cost of buying yo ... [read more]

Payment Frequency Options

Payment Frequency Options

March 26, 2018 | Posted by: Carlos Tovar

Your banker and your smart brother-in-law have told you, “make bi-weekly accelerated payments and save thousands in mortgage interest!”  So, weekly acceleraeted payments should save ... [read more]

Factors That Determine Mortgage Rates in Canada

Factors That Determine Mortgage Rates in Canada

March 19, 2018 | Posted by: Carlos Tovar

For many years now, mortgage rates have remained at historically low levels in Canada. Given the significant impact that mortgage rates have on the cost of homeownership and the housing market in ge ... [read more]

Bank of Canada keeps benchmark interest rate at 1.25%, now what?

Bank of Canada keeps benchmark interest rate at 1.25%, now what?

March 12, 2018 | Posted by: Carlos Tovar

The Bank of Canada kept its key interest rate at 1.25%. However, the bank’s references to slowing household credit growth, firmer wages, and inflation running close to its two per cent ta ... [read more]

8 Things to Avoid Before You Buy a Home

8 Things to Avoid Before You Buy a Home

February 26, 2018 | Posted by: Carlos Tovar

It may seem natural to apply for a credit card at a home improvement store or a furniture store when you are about to become a homeowner but applying for credit can lower your credit score. Not ... [read more]

Are interest hikes stopping prospective home-buyers from entering the Canadian market?

Are interest hikes stopping prospective home-buyers from entering the Canadian market?

February 12, 2018 | Posted by: Carlos Tovar

Prospective homebuyers say they won’t be jumping into the Canadian housing market anytime soon if interest rates continue to rise.   According to the Canada Mortgage and Housing Corporat ... [read more]

Should I Stay Variable or Should I Lock In?

Should I Stay Variable or Should I Lock In?

February 5, 2018 | Posted by: Carlos Tovar

Your situation is going to be different from your neighbour, your best friend, any other home buyer or owner. Here are some important questions we need to tackle to determine if converting from a va ... [read more]

Fixed vs Variable

Fixed vs Variable

January 22, 2018 | Posted by: Carlos Tovar

The gap between variable rate mortgage and fixed rate mortgage products has narrowed in recent years. And while fixed rate mortgages are starting to rise they offer certainty in a monthly payme ... [read more]

First-time Homebuyers’ Five Biggest Mistakes

First-time Homebuyers’ Five Biggest Mistakes

January 15, 2018 | Posted by: Carlos Tovar

Buying a home for the first-time is an exciting time. You’re making quite possibly the most significant financial transaction of your lifetime. You’re also making the exciting jump from ... [read more]

This is how some Canadians will try and get around the new mortgage rules

This is how some Canadians will try and get around the new mortgage rules

January 8, 2018 | Posted by: Carlos Tovar

The new year is here, and with it a new stress test for uninsured mortgage borrowers. Many industry experts have predicted that the test will shut first-time buyers out of the market — but t ... [read more]

Be Aware of Mortgage Penalties

Be Aware of Mortgage Penalties

December 4, 2017 | Posted by: Carlos Tovar

Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. But homebuyers need not fall into the trap of being st ... [read more]

OSFI Unveils New Stress-Test Rules

OSFI Unveils New Stress-Test Rules

November 27, 2017 | Posted by: Carlos Tovar

Canada’s banking regulator  unveiled the final changes to its mortgage underwriting standards—Guideline B-20—that will further tighten lending standards and affect borrow ... [read more]

Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

November 1, 2017 | Posted by: Carlos Tovar

Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ... [read more]

Should You Spend the Full Mortgage Amount You're Approved For?

Should You Spend the Full Mortgage Amount You're Approved For?

October 25, 2017 | Posted by: Carlos Tovar

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ... [read more]

Share This Page On:

Carlos Tovar
Carlos Tovar
Team Leader - Mortgage Agent
Top