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Mortgage Affordability Calculator Canada

Mortgage Affordability Calculator Canada

116.pngBy Mark5 comments
 Mortgage Affordability Calculator Canada   I have seen multiple different kinds of mortgage affordability calculators and similar tools online. I was just wondering if these tools are indeed ...AnswerMortgage Affordability Calculators are accurate as they take your GDS ratio and your TDS ratio into account and use your monthly income in order to calculate one’s financial status, and the maximum ...
Variable Rate Mortgages Toronto

Variable Rate Mortgages Toronto

By Pamela Scott6 comments
 Variable Rate Mortgages Toronto   What is the best way to go about getting a variable rate mortgage in Toronto?   Is there anything that I specifically need to be looking out for?AnswerHi there,   Excellent question, when it comes to getting a variable rate for a mortgage in Toronto, here are a couple of things to keep in mind.    In order to get a variable rate mortgage ...

Refinancing Mortgages Affect Credit Score

By Spring5 comments
Refinancing Mortgages Affect Credit Score    How does refinancing my mortgage affect my credit score?   How do hard inquiries affect my credit score as well, does the inquiry tend to diminish ...Answer    Thank you for your question regarding mortgage refinancing and how this affects your credit score.       Creditors will run your credit report when refinancing your mortgage ...

What Are “Mortgage Terms"?

By Anonymous5 comments
What Are “Mortgage Terms"?   I am just now starting my research on mortgages and what it all entails.   I am still a little confused regarding the "mortgage terms" what are they and what ...Answer Thank you for your question.   Here are some examples of mortgage terms. A mortgage term is the length of time, which it usually is in years, in which the limits of a mortgage have legal effect. ...

How can I save money on my mortgage?

By Anonymous4 comments
How can I save money on my mortgage?   Is there anything I can do to ensure I am saving some money when it comes to the interest on my mortgage?   What are some options that are available to ...AnswerIn terms of saving money on your mortgage, there are a few things that you can do:   accelerated payment frequency: you make an extra payment directly against your mortgage each year; you’ll ...

What is Mortgage Insurance in Canada?

By Jonathan McClap4 comments
What is Mortgage Insurance in Canada?   I am new to the home buying process and would like to know what mortgage insurance is and if it is something that I really need.   Will it make a difference ...Answer Thank you for your inquiry!    Mortgage insurance in Canada is an insurance policy that reimburses lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance ...
What Part of My Mortgage Refinance is Tax Deductible

What Part of My Mortgage Refinance is Tax Deductible?

By Stanley R.5 comments
What Part of My Mortgage Refinance is Tax Deductible?   I was wondering if someone could offer me some insight regarding my mortgage and whether or not the refinancing I did recently is a tax deductible? ...AnswerHi there Stanley,   Thank you for submitting another question to the Canadalend team, we are always here to assist with mortgage and refinancing related questions.   Now, regarding your particular ...
Why Do Mortgage Lenders Need my Tax Returns

Why Do Mortgage Lenders Need my Tax Returns?

By Jonathan McClap7 comments
 Why Do Mortgage Lenders need my Tax Returns?   I was wondering If I could get more information regarding this topic as I want to look into applying for a mortgage some time in the future. Why ...AnswerHello Jonathan,   Thank you for reaching out to the Canadalend team with your question regarding the mortgage process and tax returns.   "Why mortgage lenders need tax return information" is ...
Can I Get a Mortgage if I am on ODSP (Ontario Disability Support Program)

Can I Get a Mortgage if I am on ODSP? (Ontario Disability Support Program)

321.pngBy Alexandra L.7 comments
  Can I Get a Mortgage if I am on ODSP? (Ontario Disability Support Program)   Hi there,   I was wondering if there was any way I could get information about whether or not I would be eligible ...AnswerHi RHamilton,   Thank you for your question to us regarding mortgage qualification and the ODSP (Ontario Disability Support Program).   Qualifying for a mortgage while on a disability program ...

Why do I need a property appraisal?

By Anonymous3 comments
Why do I need a property appraisal?   Hi there, I have begun the process of purchasing a home and was wondering why I need to go through a property appraisal. Is this something that the banks can ...AnswerHi there,   I have begun the process of purchasing a home and was wondering why I need to go through a property appraisal. Is this something that the banks can really force me to do?   The ...

Residential and Commercial Financing

By Guest3 comments
Residential and Commercial Financing   I am in need of help with both residential and commercial financing. I would like more information on some of the options Canadalend can offer me.AnswerOntarians looking for residential mortgages have traditionally turned to banks and other financial institutions. However, that has changed in recent years, as an increasing number of home buyers have been ...

Why should I go to a Mortgage Broker or Agent first?

By Guest2 comments
Why should I go to a Mortgage Broker/Agent first?  I always assumed that in order to begin the process of purchasing a home I had to go directly to my bank.   Is there any specific reason ...AnswerYou should go to a mortgage broker or agent first because it saves times, hassle and money.   Their job is to get you the best deal possible for your mortgage.   So instead of shopping ...

Mortgage Broker Fees Canada

By Guest3 comments
Mortgage Broker Fees Canada I was told by a family member that I should look into hiring a mortgage Broker to help me find mortgage options.I really do not know where to begin looking to be honest.   What ...AnswerThe fees associated with hiring a mortgage broker is a common one.   Mortgage brokers tend to earn a one-time commission from the lender.   The amount often varies depending on the type of mortgage ...

Reviews

4 member reviews
    By Mark
    Thank you Canadalend for helping me with mortgage approval advice.
    so hellpful with their responses to mortgage related questions
    The Canadalend team helped me when I had no where else to turn. Thank you so much
    By Flux
    Very Helpful financing and lending information!
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