The Difference Between a Deposit and Down Payment
Do you know the difference between a deposit and down payment? Are you new to the home buying process and feeling confused by some of the terms used? We understand that it can be overwhelming, but don’t worry, we’re here to help. In this article, we’ll clarify the difference between two commonly confused terms: the…
Read Article...New to Home Financing? Start with a Mortgage Pre-Approval
Have you considered a mortgage pre-approval if you’re new to the home financing journey? Embarking on the journey to buy a property can be exciting, yet overwhelming process. If you’re unsure where to start, you’ve come to the right place! Let’s explore how getting pre-approved is a crucial first step in your home-buying adventure. Imagine…
Read Article...Understanding Debt Collections and Mortgage Financing
How do debt collections and mortgage financing connect when applying for a mortgage? Debt collections can negatively impact your credit score, debt-to-income ratio, and borrowing capacity when applying for a mortgage. Lenders consider a borrower’s credit history when assessing creditworthiness, and a history of debt collections can be viewed as a red flag. Debt collections…
Read Article...Fixed Mortgage or Variable Mortgage? What’s the best decision?
Fixed mortgage or variable mortgage? When it comes to purchasing a home, one of the biggest decisions borrowers need to make is whether to choose a fixed rate mortgage or a variable rate mortgage. In British Columbia, with variable mortgage rates potentially at a peak and fixed rates having recently retreated, this decision is becoming…
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