With rising interest rates comes rising mortgage rates. And if you are in the market for a second mortgage, getting a low-rate mortgage is especially challenging. But there are some things that you can do to ensure you do receive favourable rates. For one, you should compare mortgage rates across Canada so you are aware […]
You may not realize it, but large mortgage corporations and smaller private lenders in Ontario place significant weight on prospective borrowers’ credit score when reviewing mortgage applications. It’s true, that your credit score might not reflect your entire financial profile. But in Canada the best mortgage rates are often dependent upon good credit scores. What […]
Large financial companies and smaller mortgage brokers in Toronto all compete for your mortgage business. That’s because mortgage lending is a tough and competitive business. And while they compete to make you their client, when it comes to offering the most favorable rates, not every lender treats all of their clients equally. The selection of […]
Before you reach out to 2nd mortgage lenders, to talk about that secondary loan against your home, it’s nice to know what sort of criteria they use in order to qualify or disqualify potential borrowers. Knowing the metrics they will apply to your application for a 2nd mortgage means you can prepare yourself for the […]
Whether you work with the BIG banks, or you partner with private mortgage lenders to get your first or 2nd mortgage loans, you’ll always need to make sure your credit score is just right in order to qualify for the best rates. Managing your credit score Potential lenders, be it a major financial institution or […]
