Is your Line of Credit Killing your Mortgage Application? Some of the last round of changes from the government regarding qualifying for a mortgage were that if you have a balance on your unsecured line of credit, then to qualify for mortgage the lenders require that we use a 3% payment of the balance of […]

5 Tips on how to get out of debt and into your own home To get out of debt, you need a plan and you need to execute that plan. That’s why I’ve created this simple, five-step, get-out-of-debt checklist that can help you leave that financial burden behind you. As you work on your plan, […]

The Right Kind of Debt Put yourself in a bank or lender’s shoes. Someone comes into your branch and asks you to politely loan them $300,000. You are a big bank, but $300,000 is still a lot of money. How do you ensure this person is going to pay back the money you loan them, […]

7 Questions to Help You Decide if You Should Pursue a HELOC, Refinance or Second Mortgage HELOC, Refinance or Second/Third Mortgages? Which one should you choose to go with? If you have decided to tap into the equity in your home, the three can seem to be interchangeable at times and for many consumers can […]

Debt Service Ability. A renewed lender focus Debt Service Ability. A renewed lender focus it seems.  As interest rates firm, valuations are impacted, and cap rates begin to firm. What about Debt Service Ability? It is becoming more apparent that property income, and more specifically net operating income available to service debt, has a significant […]

Don’t Forget the Closing Costs When You Purchase a Home The purchase price you negotiate when buying or selling a home is just one part of the total cost for buying a home. In addition to the purchase price there are several other fees – known as closing costs – all of which you need […]

What are Accelerated Payments? An accelerated payment is a mortgage payment that is increased slightly so that you can pay off your mortgage faster. There are two common types of accelerated payments: bi-weekly and weekly. Of the two, bi-weekly is the much more common choice because it matches with pay dates more often. An accelerated […]

The 5 Mortgage Elements- Decisions You Need to Make Before You Sign! Before you buy a home there are a couple things you need to figure out first. One of the very first decisions you need to make is whether you want to work with a mortgage broker who is independent from the bank, or […]

Making Smarter Down Payments Mortgage Insurance Premiums. Many people know what they are- an extra cost to you the borrower. But not many people realize how they are calculated. Understanding the premium charges and how they are calculated will help lead you to making smarter down payments. 5%- 9.99% down payment of a purchase price […]

Need a commercial mortgage? If you’re an entrepreneur, business person or commercial investor then you probably have or need a commercial mortgage. Where should you start? Do you call your bank, or do you call a commercial mortgage broker? I recommend you call your bank. Yes, that’s right; I’m a commercial mortgage broker and I […]