HOW RISING RATES CAN AFFECT YOUR MORTGAGE
The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level
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The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level
I’m Sean Rankin, the proud owner of TopRankinMortgages. I look forward to sharing my story. I hope that you will enjoy
While the magnitude and frequency of last week’s rate changes were at times difficult to keep up with, the trend
The Bank of Canada announced today that it will continue to hold the overnight rate steady, noting that the recovery
Good morning! Quebec and British Columbia are set to lead Canada’s economic recovery, according to a new forecast by TD
When you find the house you love and want to purchase, if there is something you want included in the
A mortgage broker is a licensed professional who compares mortgages from a variety of lenders to find the best option for their clients. They negotiate mortgage loans on behalf of borrowers, handling the process from start to finish.
Mortgage brokers have access to a wide range of mortgage products and lenders, including those not directly available to consumers. They can negotiate on your behalf to get you better interest rates and terms that suit your needs.
Most mortgage brokers are paid by lenders in the form of a commission, which is usually a small percentage of the loan amount. Some mortgage brokers may charge a fee directly to the client, but this should be disclosed upfront.
Typically, you would need to provide proof of identity, proof of income (such as pay stubs or tax returns), bank statements, and information about your assets and debts.
Mortgage brokers can provide a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, conventional mortgages, FHA loans, VA loans, jumbo loans, and more.
The FSRA regulates mortgage brokers in Ontario to protect the public interest and enhance public confidence in the sectors it regulates. It sets the standards and requirements that brokers must meet to get and maintain their license.
Yes, in most cases, a down payment is necessary when applying for a mortgage. The minimum down payment in Canada is 5% for homes under $500,000, but it increases for homes priced higher.
Yes, a mortgage broker can help even if you have bad credit. They have access to lenders who specialize in providing mortgages to people with less-than-perfect credit scores.
Sean Rankin, Mortgage Agent Level 2
Smart Debt Mortgages a Network Partner of Mortgage Intelligence
License #12236