There 4 main areas that lenders evaluate, while also considering the 5 C's of credit. These are income, down payment, active and historical credit, and the property itself. 5 Steps to Get a Mortgage Income and Employment. You monthly income is what will be paying the mortgage. There is a maximum percentage of your taxable … Continue reading How To Get A Mortgage
Many mortgage lenders have re-introduced the cash back mortgage, to help buyers and current home owners at a time when people need it the most.
The changes announced in this blog, have been postponed. With the impact on the economy from COVID-19, the regulators have decided to wait on any changes. It is worth to note that at this time the Stress Test has lowered with most mortgage lenders and today (March 31st, 2020) it is currently 5.04%. Previous post … Continue reading POSTPONED- Changes to the Mortgage Stress Test
A Monoline lender, by definition, is a mortgage lender that focuses on lending money for one purpose: mortgages. It's that simple. Monolines are secure mortgage lenders. They are big players in the mortgage industry with billion of dollars in mortgage funds invested by the Big Banks, Life Insurance and Trust Companies. They follow the same … Continue reading What is a Monoline?
If you are “business for self”, your best bet in saving you money on taxes is with a professional chartered accountant. You know this already, and we know this - as we are in business owners too. But when you are purchasing a home or wanting to use equity in your home; be careful how … Continue reading Options for Business for Self