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Free Mortgage Resources

What is a pre-approved mortgage? This is the first step towards home purchase; by getting a pre-approved mortgage you are putting a hold for best mortgage rates up to 120 days. Your mortgage broker  will qualify you based on your income, less expense and submit to the lender for the mortgage term of your choice.

 

First time home buyers guide, walks you through the process of home purchase, from getting pre-approved mortgage, finding a Real Estate Agent, viewing properties on the MLS, purchasing fire Insurance, finding a  Real Estate Lawyer, cost of title insurance, Property transfer tax, and many more answers.

 

Down payment for purchase of your home, typically it can be from personal savings, gift from family member and sale of existing home.  All the above sources for down payment need to be verified to the lender at the time of mortgage approval.

 

Mortgage Questionnaire List, is self-guide to make sure you have asked the important question of yourself, your mortgage broker and your bank.

 

Rebates Tax credit Programs,  provide information on incentives and stimulus from the government for the purchase of your house or condo.

 

Property Transfer links, for Alberta, British Columbia, Saskatchewan, Manitoba, New Brunswick, Newfoundland, Labrador, North West Territories, Nova Scotia, Nunavut Ontario, Prince Edward Island, Quebec and the Yukon. Can help you estimate closing cost before you see the mortgage lawyer.

 

Types of mortgages, list different varieties of mortgages and their terminology; Bridge financing, collateral mortgage, construction mortgage, refinance and switch mortgage.

 

Moving Check list, in printable format can help take some of the stress and provide a guide to what is necessary prior to the day of the move. Your lawyer, Real Estate Agent and Mortgage broker have done their job now it’s the moving company’s turn.

 

Mortgage life insurance, is protection for your family, mortgage insurance is available from your bank or mortgage broker, term life insurance can be purchased from Insurance agents. Disability Insurance for your mortgage payment is part of the mortgage protection plan.

 

Equifax- your credit history is used by most banks and credit union to help evaluate your credit worthiness for the mortgage. Contacting Equifax Canada, once per year is a good idea to make sure your credit is in good standing.

 

Mortgage terms, can be difficult if you are not in the industry, this guide and your mortgage broker can help you understand the implication of the words as they pertain to mortgages.

 

Mortgage FAQ’s, will try to answer questions that arise during the course of your mortgage process. We would appreciate any input from the consumer on unique questions that may help others.

 

Apply online will forward your contact information to the mortgage broker of your choice. The information that is provided is valued and protected. We will never sell your information or spam, promise!


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