April 27, 2011
Adding a little extra to your mortgage payment makes a big difference in the long run. Today's post shows you just how much impact extra payments can have, and gives you some tips for making them as painless as possible.
Posts from the ‘First-time Home Buyers’ Category
March 16, 2011
Borrowers are often surprised to learn that qualifying for a variable-rate mortgage is harder than qualifying for a fixed-rate mortgage, even though the variable rate is lower. To find out why, check out today's post.
March 2, 2011
A newly released report by the Bank of Canada called "Discounting in Mortgage Markets" gives us some very useful insights into how much lenders are discounting their mortgage rates and for whom. Today's post summarizes the report and offers my interpretation of the results.
November 3, 2010
Pre-approvals are the most misunderstood part of the mortgage process. Today's post gives you a candid assessment of what to expect when you apply for one.
October 27, 2010
If you waive your financing condition without a fully qualified commitment from your lender, you are taking a substantial financial risk. That said, most people still do this as a matter of course. Today's post explains why this happens and gives you some tips on how to minimize your exposure if you decide to waive financing without a firm lender commitment in place.
September 22, 2010
Budgeting is a lot like exercise. Everyone knows it's good for you but most people procrastinate actually doing it. Today's post outlines two ways to get on top of your finances: The Easy Way and The Hard Way.
July 27, 2010
If you need a mortgage, your household income will be the single most important part of your application. Today's post outlines how lenders conduct income tests and explains the standards that are used. It also examines special cases where confirming income is more difficult, and provides some tips to help you put your best foot forward.
June 29, 2010
Planning for closing costs is an important but often overlooked step during the home buying process. Today's post will give you an overview of what to expect and will introduce you to my one-of-a-kind Closing Cost Calculator.