A rate is not a rate.  Wait, what? For the past decade, the regulatory changes in Canada have spawned different types or classes of rates.   The three classes are INSURED, INSURABLE & UNINSURED. INSURED: This is almost always the best rate you can get for your mortgage.  The borrower will pay for mortgage default insurance […]

For the last 15 years mortgage lending policy has become tighter and tighter. Lending and banking policies have been implemented with little to no thought put into what the consequences might be and if the policies would actually hurt or deter Canadians from homeownership. However, a bit of good news. The banking regulator OSFI has […]

*Singing* 🎶There’s no place like home for the holidays🎶 If you would like to be in your new home for the holiday season🎁, GOOD NEWS!  There is still time! You will need to get pre-approved by us as soon as possible and remember we will review all of your documents and application upfront to ensure […]

October 30, 2023 https://peterpaley.com/renting-vs-home-ownership/ Renting VS. Homeownership: If you’re a renter in Manitoba and Alberta, you are probably experiencing rental increases at the end of your terms. Many landlords are also being forced out of the market due to higher interest rates or switching to short-term rentals to make more money. This means that many […]

Dr. Sherry Cooper is Dominion Lending Centre’s Chief Economist.  We love to share her insights!  Hou can click on the video to watch the full update and the link to read her latest article. DR SHERRY COOPER’S UPDATE – “HAWKISH HOLD BY THE BANK OF CANADA” Our economy has slowed, parts of the world are […]

Why were you (Mainstream Mortgages) able to get me approved and my bank or credit union couldn’t? One of our recent clients asked us this question. The answer isn’t that simple in all cases. For the most part, each and every lender will have access to the same programs offered by the Federal Government and […]

When applying for a mortgage many borrowers are overwhelmed with the amount of documentation we request, and today, I want to talk about Paystubs. Paystubs fall under the income category in the mortgage documentation process. Paystubs should contain all of the following information: ✅Your employer’s name/Company Name ✅Your Name ✅The pay period date ✅The wage […]

October 23, 2023 You have been asked to be a co-signer on a mortgage. Here are 6 things to consider: 6 Things for Co-Signers to Consider. Are you thinking about co-signing on a loan or mortgage? If you’re looking to help out a family member or loved one, this is a great way to do […]

https://youtube.com/shorts/LHbcTz5wrGw Mortgage Documents – Letter Of Employment 📝 The Letter Of Employment is a common document requested by Mortgage Professionals and Lenders.  We request this document for borrowers who are either salaried or earn an hourly wage. The letter has a few requirements to be accepted by a lender and/or mortgage default insurer. 👉 Letterhead […]

October 19, 2023 ❤️We Love Realtors❤️ 🏆This is a shoutout to all of the hardworking REALTOR partner professionals who have supported and helped us throughout the years. We appreciate all of the work, long hours, and especially all the driving you do 🚗🚗🚗. REALTORs and Mortgage Brokers have such a symbiotic relationship. We are both […]