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Category: Mortgage

  • Refinancing Your Mortgage. A Guide.

    Lets take the complexity out of the word EQUITY. Many times people need access to their equity. This is called a refinance. You are changing the title to the home. A refinance is a change in the amount owed. You are paying off your existing mortgage and obtaining a new higher amount. Firstly, with this…

  • Income And Your Mortgage. What’s Required.

    Always wondered what income was required when you apply for your mortgage approval? Whether its a refinance or a purchase it always seems to be a task gathering all those documents that the banks/lenders require. Sometimes, it seems that there is always one more hoop to jump through, or one more document to retrieve in…

  • How To Go From Pre-Qualification To Approval In Just A Few Hours

    How To Go From Pre-Qualification To Approval In Just A Few Hours

    Buying in the future? Mortgage Suite Simple Secure individual Access to create your very own Virtual Application. Make changes when you need. Upload required documents, and income documents, real time for review. If you want to learn what required documents are needed for income read about it Here. Approval! Remember pre-approvals work mainly on Triple…

  • Mortgage Information that every Non-Resident Needs to Know

    Lets Make this BIG MOVE Easy, and Simple. This leap to Canada is all about the great location and guidelines, and lets face it, Investment Ownership in the greatest country Canada. In fact, At Mortgage Suite we can help you online right away, and perform the online approval from where you are located. Mike Braga…

  • 8 Expenses you DIDN’T know about owning a home

    8 Expenses you DIDN’T know about owning a home

    Clients always ask me what the mortgage payment is, and sometimes I would love to list out every extra cost to help them realize the true cost of Home Ownership. In saying that, here is a quick list. Always remember to add this to your budget when thinking of getting a home. This kind of…

  • Why Your Mortgage Needs Default Insurance

    Insured Mortgage approvals at 5% down to 19.99% down. When you put down the minimum on a house in Ontario, 5%, you cost yourself the highest premium there is. Currently it sits at 4% Premium. When you put down 10% on the house purchase price, you decrease this premium to 3.1%When you put down 15%…

  • Getting a virtual mortgage approval “the new normal”

    Getting a virtual mortgage approval “the new normal”

    Recent events such as COVID, increased mortgage application rules and have changed the mortgage landscape forever. With the new digital home buying experience seen in the real estate market. From virtual tours of homes to virtually signing offers to purchase it’s a new and quicker market.  It is now time for mortgages to go virtual.…

  • Quick Read On Secured Lines Of Credit a.k.a HELOCs

    Quick Read On Secured Lines Of Credit a.k.a HELOCs

    So, you have made a decision to access some equity in your home. It truly depends on what you choose to use this equity for. A car, a boat, debt, something else entirely. What can be said is that there are some simple things to avoid while trying to obtain this line of credit attached…

  • 5 reasons Why you should pay off your back Taxes with your Equity 

    To pay CRA arrears or not to pay CRA arrears, that is always the question We all know the answer – YES!! Pay them right away. But what happens when you didn’t save up enough? or just anticipate the amount that you actually owe current. This is what I want to discuss. When you own…

  • Mortgages And Your Credit Score

    Mortgages And Your Credit Score

    Mortgage Credit Revealed It seems that mortgage credit qualification standards are getting harder to understand these days. In saying this, i would like to go through a chart with you below that will help you understand the overall credit criteria you need.  Years prior a 600 credit score and a current job was all that…