Category Archives: Qualification hypothécaire

I’m a self-employed worker looking for a mortgage loan, but my declared income isn’t representative. Are there solutions?

Wednesday January 31st, 2018

I’m a self-employed worker looking for a mortgage loan, but my declared income isn’t representative. Are there solutions?

Your declared income isn’t representative of your current income? If this is the case, we’ve got good news: you now have access to a program that could help you buy a property. Mortgage loan for self-employed workers with self-reported income The Business for Self (ALT.A) program allows self-employed borrowers to self-report their income. However, borrowers […]
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Do I need to have my mortgage pre-approved if I’m planning to buy a condo?

Monday January 8th, 2018

Do I need to have my mortgage pre-approved if I’m planning to buy a condo?

The short answer is no, but your real estate agent and mortgage broker strongly recommend it. Here’s why: You will be spending a lot of time with your real estate agent because they will be there to help you pinpoint your needs, look at properties, and negotiate with the sellers. It is only normal then […]
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Tired of paying rent?

Monday December 18th, 2017

Tired of paying rent?

Are you tired of paying the mortgage of your apartment building’s owner? Are you ready to make the leap and become a homeowner? You might feel totally ready, but, in my opinion, the first step you need to take before you go home or condo shopping is to get yourself pre-approved. A pre-approval allows you […]
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Another good reason to obtain a pre-approved mortgage.

Monday December 11th, 2017

Another good reason to obtain a pre-approved mortgage.

Patrick is walking around in the city and spots a condo for sale that interests him. He immediately calls the real estate agent whose phone number is on the sign to find out the price and to visit the condo. The real estate agent informs him that he has just received a purchase offer on […]
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What do we do if we just made an offer on a house, but haven’t sold our condo yet?

Monday November 20th, 2017

What do we do if we just made an offer on a house, but haven’t sold our condo yet?

Start by asking yourself this one all-important questions: could you qualify for 2 mortgage loans – your current one on your condo and a new one for the house you want to buy? In effect, even if you intend to sell your condo, all the condo-related expenses (mortgages payments, municipal and school taxes, heating, and […]
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Your credit rating: Debunking the myths

Monday November 6th, 2017

Your credit rating: Debunking the myths

Your credit rating, also known as your credit score, is a number assigned by credit bureaus based on your debt payment habits. The lower your score, the more risky it is for lenders to loan you money. The higher your score, the less risky it is. Unfortunately, there’s a lot of misinformation surrounding credit scores, […]
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Important changes coming to mortgage financing standards

Monday September 18th, 2017

Important changes coming to mortgage financing standards

The Office of the Superintendent of Financial Institutions (OSFI) is currently studying the possibility of applying another major change that will affect anyone looking to purchase or refinance a property (1 to 4 units) and having at least 20% in down payment and/or equity for mortgage refinancing: Primary residence Secondary residence Income property (1 to […]
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How to find out about your credit rating.

Monday September 11th, 2017

How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one is Trans-Union. They gather and process the following information: The current monthly balance on your credit cards, lines of credit, car loans, furniture loans, […]
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Buying a home when you’re new to Canada: It’s easier than you think!

Monday August 21st, 2017

Buying a home when you’re new to Canada: It’s easier than you think!

Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done.   Common myths New immigrants often rely on information from family and friends. It’s understandable: these are people you know and trust. […]
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A fourplex property investment

Monday July 31st, 2017

A fourplex property investment

Here is the story of Jean-Francois and Charles. Both own their own home and would like to invest in real estate in order to diversify their savings. After months of searching with their real estate agent for a profitable well-built property, complete with good tenants, they finally found their diamond in the rough. Unfortunately, they […]
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