Category

First Time Home Buyers
If I ask for a pre-approval, will it reduce my credit score? Dear Ross, we are looking around for our first home, and we want to know how much mortgage we will qualify for. If we ask for a pre-approval, will you have to check our credit history? Is that a ‘hard inquiry’, and will...
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You might be able to include overtime when you apply for a mortgage! Dear Ross, I work at an assembly plant, and routinely work 50 to 55 hours a week plus some overtime. My base pay is around $40,000 and last year I made $60,000 with all the overtime. Which number will lenders use when...
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Think a variable rate mortgage is a piece of cake? Read this! I just read an excellent analysis by Rob McLister, the editor of the highly regarded Canadian Mortgage Trends website. It takes to task the people who believe they are fine with a variable rate mortgage, and can adjust quickly to rising rates and...
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Don’t Get Swept Up In An Emotional Bidding Frenzy and Forgo Home Inspection A couple of weeks ago, during the mini buying frenzy here in the GTA, many buyers were under pressure to submit offers to purchase homes without any conditions attached. Sellers were pricing their homes low, in anticipation of receiving multi offers. One...
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How to avoid mortgage fraud – tips from a pro Here is an article by Dianne Nice from the Globe and Mail that was published October 18, 2010. Six suggestions for avoiding mortgage fraud By DIANNE NICE Globe and Mail Update Whenever the housing market starts to heat up, so does mortgage and real estate...
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Engaged or Married? Quick Money Tips For A Great Start On The Road of Life This article is the third in a series on personal finance and investing at different stages of your life. As some issues may overlap the different stages of life, they could be covered in a prior or subsequent article. Money...
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Another reason to have a high credit score – home insurance costs! Last week James Daw of the Toronto Star wrote an excellent informative piece on yet another reason why we should all care about our credit scores. I don’t like it at all, but the fact is property insurance companies peek at our credit...
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