GDS/TDS Ratios Explained When qualifying for a mortgage, lenders look at your debt service ratios. This tells lenders exactly how much you can afford to borrow for a new home purchase. It is a good idea to understand how lenders calculate the maximum amount you can qualify for. The two calculations lenders do is gross […]
Need Cash Now?
Need cash now? Elevated home prices mean homeowners have increased the equity in their homes. If you need to tap into your home equity and get access to cash now, an equity line of credit or HELOC is one of the best options on the market right now. A HELOC is a type of home […]
Is Now a Perfect Time to Refinance Your Home?
Is now a perfect time to refinance your home? There really is no perfect time but really depends entirely on why you want to refinance your home and whether or not you are financially prepared to do so. You might refinance your home to get a lower rate, access equity in your home or […]
Are You Considering Selling Your Home?
Are you considering selling your home? Your first thought is to speak with a real estate agent but with all the financing changes it makes sense to speak with an independent mortgage broker. Talking with your mortgage broker might not sound like the most logical place to start, but below are a few scenarios that […]
Yearly Mortgage Checkup
With spring/summer approaching quickly, now is the perfect time to consider scheduling your yearly mortgage checkup. Spring is a popular time for a mortgage refresh. It’s also the most common time of year to buy or sell a property. There is no charge or obligation for having a Mortgage Professional complete a yearly mortgage review. […]
Conditional Mortgage Approval
What does conditional mortgage approval really mean? Conditional mortgage approval is when a lender approves a mortgage based on the information they receive from a mortgage broker. When they issue a commitment it comes with conditions. If the conditions are satisfied, such as income verification and down payment, then it becomes unconditional. When we ask […]
