When you’re searching for a mortgage in Canada, you’ll find they’re either high-ratio, or low- ratio, and it’s important to understand the difference between the two.

If you’re considering purchasing your first home, you probably have a lot of questions about the mortgage process and may even be confused about some aspects of it. To help you make informed decisions as you head towards one of the biggest financial commitments of your life, here are a few guidelines and pointers:

It might be easy to assume that if you’re a regular customer at a local bank and have a good relationship with them, they’ll automatically get you the best deal on a mortgage; but this may not always be the case.

A mortgage is likely to be one of the biggest expenses of your life, and a major financial investment, but once you’ve found the right one for you, who’s to say that it will remain the right one for you, years down the line?

Whether you had started to search for a new home before the pandemic struck or are just now beginning to think about your options in the light of Covid-19, you might be wondering whether a new mortgage is even possible right now.

In not knowing or understanding the vital role that a mortgage broker can play you stand to lose what could amount to thousands of dollars in long term savings. Here are just 6 of the reasons why it makes sense to use a mortgage broker:

In Nov 2016, the government of Canada made it more difficult for borrowers to qualify for loans in an attempt to curtail the Vancouver and Toronto governments. It had a negative impact on Albertans, and new premier candidate vows to fight the "unfair" rule.

This article from mortgage broker Calgary discusses CMHC's increase of insurance premiums on May 1st, 2014. It's an interesting raise considering the number of defaults have decreased since rules have been tightened. Please give me a call today if you have any questions 403.460.7707