Mortgage News from around the world....

 

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

 

Mar 5, 2008... never give up hope on a Canada Home Loan

Even if you have terrible credit, never think that a lender won't take a chance on you.  I've provided Calgary equity loans and Vancouver mortgages to people who thought their credit was beyond hope.  The rates may be higher, and sometimes there are fees, but quite often, it can be a better option than paying the high interest rates of credit cards.  For some information on discount Canadian mortgages, click here

Mar 3, 2008... new national mortgage broker, Home n Work Mortgages Inc.

An exciting new BC mortgage broker agency has just open it's doors.  Home n Work Mortgages, based in Victoria BC is looking forward to better servicing Canadian borrowers with more mortgage options and greater service.  Now Vancouver equity loans and British Columbia first mortgages will be more accessible.  For more information on Canada loans, click here

 

Mar 1, 2008... sub-prime lender closes.

Accredited Canada, a Canadian sub-prime lender, just recently closed it's doors.  They were US owned, and one of the reasons they closed is because of the current problems in the States.  But this should not be a worry to sub-prime borrowers in Canada.  There are still plenty of sub-prime Canadian lenders willing to lend money to borrowers with less than perfect credit.  To learn more on how to get a British Columbia debt consolidation loan, complete the form above, or click here

 

December 28, 2007... Vancouver home loan info.

Don't let a poor credit history dissuade you from applying for a mortgage.  There are many lenders in British Columbia who will look beyond just the credit bureau "score".  They will listen to your story and determine whether you are a good credit risk.  They realize that sometimes misfortune befalls people, and that they deserve a second chance.  To find out more information on how to get a Vancouver equity loan in BC, fill out the form above, or click here

 

December 17, 2007... British Columbia mortgage news?

In local news, Quest Mortgage Investment Corporation has announced new management changes that will alter the way it currently does business.  They are operating as a MIC (Mortgage Investment Corporation) and their plan is to become the largest mortgage investment corporation in Canada.  To find out more information on how to get a Canada debt consolidation loan in British Columbia or Ontario, click here

 

December 13, 2007...What is a subprime borrower?

A subprime borrower is someone who has less than perfect credit, maybe caused by not paying bills on time, previous bankruptcy, collections, etc.  The result is a low credit score.  This type of client cannot get a conventional mortgage from the bank.  So the subprime borrower gets a loan from a subprime lender.  The rates and, sometimes fees, are usually higher than conventional lenders, but the client is at least able to qualify for a loan.  To get more information on a Canadian broker loan, click here

 

December 9, 2007...US predicts subprime woes will last another 2 years

Unlike Canada, the US market has been suffering through a subprime lending crisis.  Subprime loans is where you give people with bad credit a mortgage.  The problem in the States is that the lenders didn't ask for a downpayment.  So you've got borrowers with poor credit, poor job history, and no downpayment getting mortgages for 100% of house value.  The see how things are done properly in Canada with a British Columbia mortgage, click here

 

US lenders are gouging clients

It has come to light that US lenders, such as Countrywide Financial Corp, have been unnecessarily and illegally adding fees and charges on to mortgages. And these are with clients that should have never got into a mortgage in the first place.  The troubles we see in the US have not happened in Canada because our mortgage regulators are very strict on what lenders can do.  For more info on bad credit loans in Ontario, click here

Loan for a Canadian with bad credit

 

With a loan for a Canadian with bad credit, how long does it take to complete an Alberta mortgage?  If all Alberta mortgage information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter, then the transaction can be completed in as little as 2 weeks...more

 

Canadian Debt Consolidation Loan

The truth, with a Canada debt consolidation company, is that the bank will probably offer you a discount from their posted rate if you are a good client with good credit. The trick is to know which banks will go the lowest, when, and why!  We make it our business to find clients the best rates, from every source.  I've had a number of clients who have been disappointed with their bank because they were not offered the lowest rate....more

 

Home Equity Loan in Canada

 

What is a home equity loan Canada.  Home equity loans Canada is an equity line of credit that gives you access to the equity in your home (up to 90% of the value of your home).  With a Canadian loan , this is a great way to finance a home renovation...more