05 Feb 2021
By Aadil Nathoo

Do You Need Mortgage Insurance Even if It’s Not Required by Your Lender? Let’s Take a Look

Home Mortgage Tips, ,
Finding a proper mortgage loan and understanding the processing procedures behind the loan is the basis of good research. The down payment on a mortgage loan is typically significant when dealing with mortgage insurance. Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be required even if it's not typically required by your lender. Underwriting Requirements Most home mortgage applications undergo a strict set of standards for approval. These standards are known as underwriting and make up the bulk of time spent on a mortgage application.…
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03 Feb 2021
By Aadil Nathoo

Three Tips for How to Secure a Mortgage if You Are A Self-Employed Entrepreneur

Home Mortgage Tips, ,
If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed. Make Sure Your Credit Score Is In Good Shape While your ability to pay back a mortgage is the most important factor in approval, your credit score is a close second, and that goes for every borrower, not just those…
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13 Jan 2021
By Aadil Nathoo

How Low Can They Go: With Mortgage Interest Rates Low, Should You Refinance?

Mortgage Rates, ,
Do you have a mortgage? You've likely seen or heard a lot about mortgage refinancing as interest rates remained low in recent months. In today's blog post we'll explore the topic of mortgage refinancing, including when you should consider refinancing and how to take advantage of low interest rates. What is Mortgage Refinancing? In simple terms, refinancing refers to the practice of taking out a new mortgage and using the proceeds to pay off your old one in its entirety. You'll go through the full borrowing process with your chosen lender, including the credit check, financial history and employment history…
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31 Dec 2020
By Aadil Nathoo

Are You Applying for a Reverse Mortgage? Here Are 3 Considerations You’ll Need to Make

Home Mortgage Tips, ,
If you're a homeowner who is looking to tap in to the home equity that you've spent years building you may be interested in a "reverse mortgage" or "home equity conversion mortgage". While these unique financial tools aren't for everyone, if you qualify for a reverse mortgage you'll find that this might be the perfect financial solution which allows you to pay off your existing mortgage, or for some other regular expenses that you have. Let's take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage…
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04 Dec 2020
By Aadil Nathoo

Be Prepared for Your Mortgage Pre-approval Interview by Having Answers to These 4 Questions

Home Mortgage Tips, ,
So – you've completed an initial mortgage pre-qualification and now you're ready to take the next step and meet with your lender or mortgage advisor for the pre-approval interview. Are you ready? At this stage of the application process your lender will dig into your financial background to ensure that you're fully capable of making your mortgage payments and that you don't present too high a risk. Let's take a quick look at a few questions you should know the answers to before you go in for a mortgage pre-approval. Do You Have a Specific Home in Mind? If you've…
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