Everybody knows that the COVID-19 Pandemic has had quite an impact on 2020 and will likely continue to do so for the years to come; but what does that mean for traditional mortgages? Well for starters this year more than ever, we saw a shift of traditional shopping from in-store to online, boosting the market […]
Almost everyone knows it’s a good idea to renovate before selling your property. A little paint, new lighting, and posh flooring can go a long way in helping you increase your potential revenue. This increase in property value after a renovation is also known as Return on Investment (ROI). Most homeowners are surprised to learn […]
You’ve probably been in this situation before: a client has gone through all the steps and decided on a property to purchase. As they are gathering all of the documents needed for the final signing, their financing falls through, leading to their down payment being lost, along with your commission. Mortgages often represent the final […]
Looking for a private mortgage but want to make sure you are getting the best rate without spending valuable time shopping around? Look no further – WiiBid is your one-stop-shop! For the first time ever, lenders are bidding on mortgages! With WiiBid you can get “auctioned” rates which means you have a centralized marketplace to […]
Thanks to tighter mortgage qualification rules and higher-priced real estate—particularly in the greater Vancouver and Toronto areas—it’s not always easy to qualify for a mortgage on your own merits. You may very well have a great job, a decent income, a husky down payment, and perfect credit, but that still may not be enough. When […]
The value of Canada’s non-bank residential mortgages skyrocketed by more than 10 times in the period 2007-2018, according to Statistics Canada data released last week — a much more rapid increase than residential property values. The data suggest that more and more residential mortgage consumers have been turning away from the big banks and credit unions to […]
Everyone likes to believe that they will qualify for the best rates and terms when they start shopping for a mortgage, but this isn’t always a reality. Most residential mortgages will fit into three categories: “A” lenders – Chartered banks, credit unions, and monoline mortgage companies. These lenders offer the best rates and terms including […]