Are you contemplating the idea of refinancing your mortgage? Whether you're looking to lower your monthly payments, shorten your mortgage term, or tap into your home's equity for large expenses, understanding when and why to refinance is crucial. In this detailed guide, we'll explore the ins and outs of mortgage refinancing and help you determine if it's the right choice for your financial situation.

Buying a home is a major milestone for many people, and it’s one of the most significant financial investments you'll ever make. Whether you're a first-time homebuyer or a seasoned real estate investor, finding the right mortgage is key to ensuring that you get the best possible deal. 

When it comes to securing a mortgage, you have two options. Working with a mortgage broker or going directly to a bank. In this blog post, we’ll explore the benefits of working with a mortgage broker versus a bank, and why Mortgages By Erin, the best mortgage broker in Toronto, Ontario, is a great choice for you.

As one of the most significant financial investments you'll make in your life, buying a home requires careful planning, research, and financing. For many Canadians, obtaining a mortgage is the only way to afford a home purchase, but the process can be confusing, especially if you're new to it. Before you start looking for a home or a mortgage lender, it's important to know the difference between pre-approval and pre-qualification.

Pre-qualification and pre-approval are often used interchangeably, but they are two different things. Pre-qualification is a preliminary assessment of your creditworthiness, income, and debt. It gives you an idea of how much you can afford to borrow but doesn't guarantee that you'll be approved for a mortgage. On the other hand, pre-approval is a more in-depth process that involves a lender reviewing your financial documents, credit history, and employment status to determine whether you're eligible for a mortgage and how much you can borrow.

When it comes to home buying, pre-approval is more beneficial than pre-qualification. Here's why:
 

If you're thinking of buying a new home or refinancing your existing mortgage in Toronto or anywhere in Ontario, you may be wondering whether to work with a local mortgage broker or a big bank. As a licensed Ontario and GTA broker, Mortgages By Erin can help you navigate the market with confidence. While both options have their advantages, there are many reasons why working with a local mortgage broker can be a smart choice, especially if you're looking for the best mortgage lender in Toronto.

In this blog, we will explore the advantages of working with a licensed Ontario and GTA mortgage broker and why Mortgages By Erin is the best choice for your mortgage needs in Toronto and beyond.

Is everyone around you giving you financial advice, and you are fed up with reading endless books that suggest unique strategies from the author’s personal life? If yes, you need to start trusting professionals who share their experiences to help others grow. 

On March 2nd and April 13th, the Bank of Canada raised its key interest rate by 0.25% and 0.50% respectively. With the next increase expected to occur on June 1st, the biggest question that is coming up is whether or not borrowers with variable-rate mortgages should convert to fixed. Even though fixed rates are still relatively low and are a fantastic solution for many, the answer for most people is still variable. For those who want to see the compelling reasons why the variable rate makes more sense than fixed, keep on reading.

Growing up, most people dream about living a fairytale with a wonderful partner and a life of bliss. Unfortunately, real life is not always a fairytale, and not every relationship lasts forever. In fact, the latest statistics show that thirty-eight percent of all marriages in Canada end in divorce.

Do you plan on buying your first home or contemplate adding to your property portfolio? Availing of a mortgage has the advantages of being cost-effective as the interest rates on a mortgage are generally lower in this case than for other types of borrowing. 

Buying a house for the first time is a new and emotional experience, so it’s normal to have a few hiccups along the way. Since a home is the single most expensive purchase for some people, the entire process can also be tricky to navigate if you’ve never done it before. It’s necessary to find a mortgage agent you trust to assist lead you down the twists and turns on the exciting journey to homeownership. It is also beneficial to know some of the common mistakes first-time homebuyers make, so you can avoid them on your road to buying your first home and have a smooth experience with minimum stress.

Getting a mortgage can be challenging when dealing and coordinating through the Coronavirus pandemic, with constant changes across the board. With a large number of people losing their jobs and another massive group of them working remotely, mortgage companies were not open to supporting their clients as easily as they were in the past. We learned that many of our clients were not planning on making large investments which was another challenge that we had to get through. Unfortunately, the people who needed the mortgages the most were the ones who were ideally going through a tough time during the pandemic.

In times of uncertainty, we can always count on our first responders. From coast to coast, they put Canadians first and ensure the health and safety of this great country. At Mortgages By Erin, my team and I have successfully helped hundreds of people realize their dream of homeownership. Now, we want to help our first responders on the front lines, who have been providing support to the community during the pandemic crisis. I am grateful for their services and express my gratitude for their ongoing work and sacrifice. As part of Dominion Lending Centres, I am proud to announce the First Responder Mortgage Program™.

Every industry has its own language and terms. These words and phrases can be confusing to anyone who is not part of a specific industry’s daily operations, and the mortgage business is no exception.

At Mortgages by Erin, we understand that selling your home can be an uphill task and quite a challenge, which can make the process stressful. However, you can handle your property sale quickly and easily with a little preparation. Follow our checklist to sell your home quickly so that you can get back to the other essential things in your life.

Original Article Source Credits: betterdwelling, https://betterdwelling.com

Article Written By: NA

Original Article Posted on: APRIL 19, 2021

Link to Original Article: https://betterdwelling.com/canadas-2021-budget-will-likely-have-little-impact-on-home-prices

As an experienced mortgage broker in Toronto, ON, I can help clients find the best possible solution for their needs by offering them personalized plans and excellent customer service. 

Searching for a new home is an exciting time for the whole family. However, once you narrow down on your dream property, that’s when the real work starts as you now need to secure a mortgage, which can be tricky. Consequently, a mortgage broker can navigate you through the process by matching you with a suitable lender and completing the tedious paperwork.

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  NA

Original Article Posted on:  DECEMBER 18, 2020

Link to Original Article:  https://betterdwelling.com/canadian-markets-are-seeing-a-real-estate-boom-with-population-declines/

Meet Kandis Haas, a Mortgage Agent and Business Partner at Mortgages By Erin. Kandis began working with me nearly four years ago and continues to have a bright future ahead. 

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:   2020-09-17

Link to Original Article:  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

Purchasing a home is usually the highest investment that any person will make. It is not something that they do at the drop of a hat, but have a lot to consider when going through with a deal of this scale. Finding the right mortgage broker to provide the most favorable payment terms and duration is ideal.