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Mortgages for Purchase Plus Improvements

If you want to buy and renovate at the same time then perhaps you need advice about Mortgages for Purchase Plus Improvements! The best place to start the mortgage process is with a pre-approval. But once you’ve been pre-approved for a mortgage…
Kelowna mortgage tips

Why Your Mortgage Downpayment Source Matters

If you’re looking to purchase a property, although you might not think it matters too much, the source of your downpayment means a great deal to the lender. Let’s discuss the lender requirements, what your downpayment tells the lender about…
Kelowna mortgage tips

Construction Assignments

Getting a mortgage with construction assignments One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender with one set of products, independent…
Kelowna mortgage tips

Understanding a Spousal Buyout Mortgage

Have you heard of a spousal buyout mortgage? Well, if you’re going through or considering a divorce or separation you should keep reading. You might not be aware that there are mortgage products designed to allow you to refinance your property…
Kelowna mortgage tips

Porting Your Mortgage

Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big…
Kelowna mortgage tips

Locking in a Variable Rate Mortgage

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you…
Kelowna mortgage tips

Credit and Mortgage Financing

What is credit and mortgage financing? Credit. The ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required…
Kelowna mortgage tips

How to Handle Missed Payments

If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue…
Kelowna mortgage tips

GDS/TDS Ratios Explained

GDS/TDS Ratios Explained One of the major qualifiers lenders look at when considering your application for mortgage financing is your debt service ratios.  Now, before we get started, if you prefer to have someone walk through these calculations…