Pre-Approval or Pre-Qualify – What’s The Difference?

I get this question a lot and I see quite a few clients coming too me saying they have been pre-approved but received a decline when they had an offer on the table. To get a mortgage you basically need 3 things. Those are down payment, income and credit. Here is how this breaks down: [...]

February 21st, 2017|Mortgage|

Mortgage Payment Stress Test – How Does It Effect You?

You may have heard the phrase "mortgage stress test" in the news lately and are wondering what this is all about. It's not a condition that you need to get your health tested to be able to handle the stress of looking and purchasing a home. Basically the Government has put in place a procedure [...]

October 18th, 2016|Mortgage|