The Blog

Some lenders require payment of property taxes with the mortgage payment to ensure they are paid up to date.  The city or municipality has the ability to place a caveat on the title of the property to collect arrears.   This compromises the security position of the first mortgage and lenders are not comfortable with this.  […]

April 18th, 2014

Due to change in mortgage legislation, it is now required that any client qualifying for a product other than a 5 year fixed rate must be able to carry the mortgage at the benchmark rate in the event of a rate rise.   This is to ensure a client that qualifies for a low 1-year rate […]

April 11th, 2014

The ability to make payments is a large factor in lending decisions, but it is one of many factors.  Strong repayment history (credit), character, collateral, capacity and capital are all evaluated in the lending decision. The 5 C’s of credit. Now certain lenders will make exceptions on a deal by deal basis, but as a good […]

April 4th, 2014

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