When it comes to buying a home, the process can be overwhelming and fraught with complexities. Whether you’re a first-time homebuyer or looking to refinance, navigating the maze of mortgage options can be daunting. This is where a mortgage broker becomes invaluable. At Mortgages By Erin, we specialize in making your mortgage journey smooth and successful. Here are five compelling reasons why enlisting the services of a mortgage broker can be one of the best decisions you make.

Embarking on a home renovation project can be both exhilarating and daunting. Whether you're looking to update your kitchen, add a bathroom, or completely overhaul your living space, the financial aspect can often seem like a major barrier. However, house renovation loans offer a practical solution, enabling you to enhance your living environment now and pay over time. In this blog, we'll explore the compelling reasons why opting for a renovation loan is a wise decision for homeowners.

For many homeowners, a mortgage is one of the largest financial commitments they will ever make. It's not just a contract; it's a long-term relationship with a lender that can span decades. When your mortgage term is up for renewal, you have an opportunity to make sure you're getting the best possible deal. After all, even a small reduction in your interest rate can translate into significant savings over the life of your mortgage.

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.

The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signaled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on longer-term interest rates.

Creating a budget is the first step toward organizing your finances and keeping track of where you spend your money. With a budget, you can quickly achieve your savings goals over time, prepare for emergencies, and encourage smart spending.

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. 

Applying for a mortgage can be both exciting and intimidating if you don’t know where to start. This is because borrowing money involves more than walking into a bank and signing essential documents. There is considerable work to be done behind the scenes before your mortgage is closed and money is in your bank.

Moving to a larger house is not the only time that things can change with your mortgage and home. Sometimes there comes the point when owning a home becomes a bit too much to handle, or maybe you’re an empty-nester and no longer need all that space to yourself. 

Finding a home shouldn’t be too hard as there are hundreds of thousands of homes for sale nationwide annually. From single-family dwellings to duplexes to townhomes, the choices seem endless. However, these options make finding the right property that fits your needs and budget challenging.

Original Article Source Credits:    CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  June 15, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/06/housing-market-moderates-in-may-but-prices-forecast-to-rise-19-3-this-year/

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  June 22, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/06/low-rates-helping-borrowers-pay-off-mortgages-at-record-pace/

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.

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  May 12, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/05/latest-in-mortgage-news-house-prices-to-moderate-this-year-says-cmhc/

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

Article Written By: NA

Original Article Posted on: APRIL 20, 2021

Link to Original Article: https://betterdwelling.com/canadian-real-estate-is-moving-from-pent-up-demand-to-pent-up-supply/

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

To most consumers outside of the mortgage space, the terms “mortgage broker” and “mortgage specialist” would seem interchangeable – but they aren’t. As a potential homeowner, the differences are more important than you might think.