A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time and for a set amount of money. The pre-approval is calculated based on information provided by you and is generally subject to certain conditions being met before [...]
Most lenders will accept down payment funds that are a gift from family as an acceptable down payment. A gift letter signed by the donor is usually required to confirm that the funds are a true gift and not a loan. where the mortgage [...]
Subject to qualification, yes. In fact, even purchasers with small down payments may qualify to buy a home and make improvements to it. For high-ratio financing, both Canada Mortgage and Housing Corporation and GE Capital, insured mortgages are available to cover the purchase price [...]
Where child support and alimony are paid by you to another person, generally the amount paid out is deducted from your total income before determining the size of mortgage you will qualify for. Where child support and alimony are received by you from another [...]
Depending on the circumstances surrounding your bankruptcy, generally some lenders would consider providing mortgage financing. For more information on your personal situation contact us today!
A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value of or less than 80%, and does not normally require mortgage loan insurance.
Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, and GE Capital Mortgage Insurance Company, an approved private corporation. This insurance is required by law to insure lenders against default on mortgages with a High Ratio. The [...]
34 Minowan Miikan Lane
Toronto, ON M6J 0G3
Tel: 416.561.5432
License # M13000592
Broker# 10801
420-2100 Derry Road West
Mississauga, ON L5N 0B3
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