closing costs

What Are Mortgage Closing Costs?

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Buying property can be a complex and confusing process filled with new terms, hidden fees and a shocking price tag. Mortgage closing costs can be one of those things you overlooked when planning to buy. Mortgage closing costs are something that you will have to pay before purchasing a home or if you are refinancing your existing mortgage.   So, …

mortgage-preapproval

Why Looking for a Mortgage Before Looking for a Home Is a Good Idea

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Shopping for a new home is exciting. Considering what your “must-haves” are and thinking about neighbourhoods never feels like a chore. When it comes to buying a home, most people often start searching for a home before mortgage research. But perhaps you should be thinking the other way around. Looking for a mortgage broker to help you prioritize can make …

mortgage broker

What Happens if I Miss My Mortgage Payment?

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Worrying about missing a mortgage payment can keep you up at night so it’s important to understand the repercussions of missing them. It’s also important to understand how unlikely this could happen. With the help of a good mortgage broker, you’ll have a reasonable rate and your payments should not be a far stretch for you. Thanks to higher qualifying …

best mortgage rates

Fixed or Variable Mortgage: What Is Better For You?

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Things have changed recently for mortgages and mortgage brokers due to the interest rate increases. It would appear as though the perceived risk of a variable rate mortgage is well worth the reward despite the rate increases. What’s the difference between a variable rate mortgage and a fixed rate mortgage, and how do these rate increases affect a borrower?   …

mortgage broker

What Is a Qualifying Rate & How Does It Affect Applying for a Mortgage?

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When you’re in the market to buy a new home, you know you’re going to need to borrow money. There are many different types of mortgages to suit each purchaser’s situation, and a qualified mortgage broker can help. What you might not know is that before you can borrow the money for your dream home, you have to qualify for …

mortgage-broker

Do You Know the Difference Between a Mortgage Loan and a Construction Loan?

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Finding the perfect home can be complex. Building a home has its appeal, you’ll get exactly what you want, but there are some major differences between building and buying. The largest difference between buying a home and building from the ground up is the type of financing required. When buying a home, a mortgage broker will help you to get …

meeting

Bridge Loan or Mezzanine Loan – Is There a Difference?

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As a mortgage broker in Victoria BC, I’m often asked what the difference between bridge and mezzanine loans is. Financial jargon can be difficult to understand for someone not well-versed in the world of loans and finance.   For those of you who may not be familiar, bridge loans and mezzanine loans are two common financing options that are available …

building a house

I Want to Build My Home From Scratch, But How Much Is it Going to Cost?

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The idea of building a house from scratch can be an exciting thought. Everything about your new space will have your own personal touch on it, and you get to be in control of it all. With that being said, the cost associated with building a home can be quite steep. You may want to take the easy route and …