In the journey of purchasing a home, mortgage loan insurance emerges as an essential component, especially when the homebuyer cannot make a substantial down payment. In Canada, this type of insurance is a common prerequisite for high-ratio mortgages – loans that are granted to borrowers with minimal down payments, often less than 20% of the […]
When it comes to home financing, the conventional mortgage stands as a cornerstone in the housing market. It’s a term frequently mentioned, but not always fully understood by potential homebuyers. A conventional mortgage refers to a home loan that is not insured by the federal government, in contrast to loans like FHA or VA mortgages, […]
Experiencing bankruptcy can be a challenging chapter in one’s financial journey, particularly when considering future homeownership. In Ottawa, as in the rest of Canada, bankruptcy does not permanently close the doors to obtaining a mortgage. This blog post will explore how a bankruptcy can impact mortgage qualification and what steps can be taken to rebuild […]
Navigating the financial landscape of homeownership in Ottawa becomes more complex with child support obligations in the picture. Individuals providing child support must consider how these payments affect their mortgage qualification. This comprehensive guide delves into the lender’s perspective on child support, assessing its impact on the mortgage process, and providing actionable advice for balancing […]
Harpreet Chhabra, B.COMM, MFC, RRC Mortgage Agent
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