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Category: Buying a Property

  • Secrets Of The Bearer Trust Agreement. Purchase.

    This is an agreement that is made when a borrower mortgages a property for another party that is family related. This type of agreement allows the title to be transferred in future from “family related borrower” back to the “intended borrower” and avoid capital gains and land transfer taxes. Legally it is performed as a…

  • Small Important Things About A Mortgage Bridge

    We are not talking about London bridge or the Mackinac bridge in this post. We are talking about a Mortgage Bridge. This can happen in a few ways when you obtain financing. You buy a house, and your closing on the new purchase is BEFORE the old home sells. As most client’s down payment comes…

  • The 3 Most Important Factors That Determine Your Mortgage Approval

    Everyone wants the best rate.  It’s incredible to think that the best rate comes with a price.  That price is insurance. But nevertheless you get a deep rate discount when you get an insured mortgage and you have these 3 important factors.   Income: You have proof of employment income and usually they like to see…

  • 8 Fund Facts! RRSP Mortgage Downpayments

    Now that you want to buy a home it’s time to look at some creative ways to obtain your down payment.  Sometimes it makes sense to withdraw from your investments to purchase a home, but a good discussion with your investment advisor and/or accountant is recommended.  The specific investment we’re taking about in this situation…

  • 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.…