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Mortgage Basics Tips

Mortgage Basics Tips

What Is a Home Loan (Mortgage) Broker and What Do They Do?

What Is a Home Loan (Mortgage) Broker and What Do They Do?

Mortgage brokers are responsible for more than 40% of residential mortgage originations in Canada, and demand for their services continues to grow. But before hiring, you should know what a home loan broker is, what they do, the pros and cons of working with them, and how you can find the best broker. What Does a Mortgage Broker Do? Let’s start with the basics and define mortgage broker first. What is a home loan broker? They're like your shopping agents for mortgages. They are intermediaries...
Feb 10, 2025
What Is the Minimum Credit Score for a Mortgage in Toronto?

What Is the Minimum Credit Score for a Mortgage in Toronto?

Buying stuff is a pleasant experience; some people even go shopping to calm themselves down. But what if the size of your purchase is as big as a house? Sure, it’s still pretty exciting, but it can also be overwhelming to put your financial strength together to qualify for a mortgage. So, how can you afford a home with your financial status quo? Do you have the minimum credit score to qualify for a mortgage? Let’s find out. The Minimum Credit Score for a Mortgage in Toronto The min...
Jan 29, 2025
Mortgage Broker vs. Bank: Best Choice for Your Home Loan

Mortgage Broker vs. Bank: Best Choice for Your Home Loan

  Are you on the fence about getting a mortgage from a bank or broker? Well, we should inform you that they each have their perks and drawbacks, and you should choose one based on your circumstances. The guidelines here will rid you of the mortgage broker vs bank dilemma. Let’s find out which one best serves your interests. Understanding the Difference: Bank vs Mortgage Broker The big difference between a mortgage broker and a bank is that the mortgage broker kind of takes care of...
Feb 08, 2025
How to Get a Mortgage in Toronto

How to Get a Mortgage in Toronto

Buying a home is a life-changing experience, and it may seem far-fetched to have some keys in your pocket that open the doors to a place you can call home. This huge gap between you and your dream of owning a home can be filled with a mortgage application. But what are the stages of getting a mortgage? Let’s find out. There Are 7 Steps to Getting a Mortgage in Toronto: You can already imagine yourself in your new home by taking the following seven steps. Step one Assess Your Fina...
Feb 09, 2025