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Canadian Home Loan
Oct 15, 2008...we can do Ontario equity loans in small towns
Many lenders will not go to "small town" Canada when granting
a Canada mortgage loan. They sometimes will say that they
need a minimum population of 25,000, or be no further than 25kms
from a large city. We have lenders that will look at any
sized town, whether it be residential or rural. For more Canadian mortgage
lender tips,
click here
Oct 14, 2008...how the economic crunch is affecting Canada home
equity loans
With the economic crisis currently upon us, many of the
lenders offering Toronto equity loans are being a little more
conservative. It doesn't mean that you can't get an Ontario
home loan, but the criteria is getting a bit tighter. For
example, credit scores need to be higher and loan-to-value ratios
are lowering. Also, the cost of borrowing is higher due to
the risk. For more Canadian mortgage tips,
click here
June 14,
2008...what's the difference between bankruptcy and a consumer
proposal
The main thing you should consider when applying for an
Alberta home equity loan, when you have a bankruptcy or consumer
proposal, is that the lenders consider both of these situations as
the same thing. Even though you may consider a consumer
proposal the better route to go (and it is, because you are
actually making an attempt to pay off your debt, versus running
away from them with a bankruptcy), the lenders will require you to
be out of your consumer proposal for at least one year, with one
year of reestablished credit. That is the same requirement
for a bankruptcy. For more Calgary mortgage tips,
click here
June 10,
2008... how does a previous bankruptcy affect you
If you are applying for a Vancouver equity loan, and you have
had a previous bankruptcy, most lenders will want you to be
discharged from your bankruptcy for 1 year and have re-established
credit for 1 year. After having had a bankruptcy, the
tendency is to stay away from credit cards and loans. The
problem with that is that the lender can't see that you have
"changed", and all they see is your poor credit from the past.
For more BC loan tips, go to
click here
May 16, 2008... allow for extra costs on a Calgary second mortgage
When you are applying for a Calgary home loan, keep in mind
extra fees or costs that may be unexpected, or not budgeted for.
Such Canada home improvement loan costs can take the form of
lawyer fees, lender fees, broker fees, appraisals, etc. Make
sure that you are well aware of the costs involved so that you are
not disappointed at the lawyer when you are signing the papers. For
more details on an Alberta 2nd mortgage,
click here
May 10, 2008... credit scores are important for an Edmonton home
loan
Your credit score, that is issued by Equifax Canada,
determines what the lenders think about you. Remember, if you are
looking for an Alberta mortgage or Calgary equity loan, make sure
you pay your debts on time, and as required. Otherwise you
may find yourself paying more for the mortgage. is the difference between an open Regina mortgage and a
closed Saskatoon 2nd mortgage. An open mortgage is where you
can make as many payments as you like, whenever you like, to pay
down the balance of the outstanding mortgage. For extra info
on a Canada loan,
click here
May 9, 2008... closed versus open Regina 2nd mortgage
What is the difference between an open Regina mortgage and a
closed Saskatoon 2nd mortgage. An open mortgage is where you
can make as many payments as you like, whenever you like, to pay
down the balance of the outstanding mortgage. With a closed
mortgage, the payments are fixed (ie the same each payment), and
the payment period is fixed (ie once a month) For more information on a
closed Canada home mortgage,
click here
May 8, 2008... private Kelowna mortgage
Sometimes your credit may not be good enough for conventional
mortgage lenders in BC, and maybe not even good enough for
"non-conventional" lenders. But we have access to private
mortgage money all across Canada. So you can get a Vernon
home loan or a Prince George home improvement loan, even when your
credit is poor. For more info on a Canada home loan,
click here
Mar 11, 2008... appraisal tips for a good Victoria home loan
Part of the process for getting a Victoria, British Columbia
mortgage is having a good appraisal. Take it very seriously.
Many folks think that their house is worth more than it is, and it
can be the aspect of the loan that "kills the deal". Make
sure the house is clean and shows well in the pictures for the BC
mortgage lender. Make sure that the exterior and yards are
clean. I've had many deals where the clients ended being
very disappointed because the house didn't show well, and the
appraisal came in lower than expected. For tips on Canadian
high risk mortgages,
click here
Mar 9, 2008... don't make big purchases before getting a British
Columbia mortgage
If you are going to be applying for a Vancouver equity loan or
BC mortgage, make sure that you don't increase your debt load.
Lenders look at your debt to income ratio to decide how much of a
mortgage you can afford. The standard ratio is that they
will allow you to spend 42% of your gross income on debt. If
you go ahead and purchase a car or run up your credit card before
applying, you could find yourself not qualifying for the size of
the mortgage you need. For some
information on easy Canadian mortgages,
click here
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