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.

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.

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

Mortgages are considered complicated as there are different types of mortgages and several requirements under them to determine whether you are worthy of funding. When it comes to applying for a mortgage, these options and conditions can cause you to have many questions to which the answers are difficult to come by. Fortunately, Mortgages By Erin has recognized this challenge and is happy to arm you with the most accurate information available to some of the most frequently asked questions about mortgages.

I’m Erin Kouvertaris, the proud owner of Mortgages By Erin. I look forward to sharing my story. I hope that you will enjoy getting to know me better.

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

Article Written By:  NA

Original Article Posted on:  SEPTEMBER 29, 2020

Link to Original Article:  https://betterdwelling.com/canadian-mortgage-debt-passes-80-of-gdp-for-the-first-time/

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

Article Written By:  Steve Huebl

Original Article Posted on:  September 10, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/09/bank-of-canada-reaffirms-its-low-rate-outlook/

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

Article Written By:  Steve Huebl

Original Article Posted on:  September 14, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/09/big-banks-still-dominate-mortgage-market-share-says-cmhc/

Original Article Source Credits:   Toronto Storeys , https://torontostoreys.com/

Article Written By:  Christina Varga

Original Article Posted on:  September 10, 2020

Link to Original Article:  https://torontostoreys.com/toronto-moving-to-suburbs-covid/

Did you plan to opt for a better mortgage term for your upcoming mortgage renewal, but failed to negotiate a favorable offer from your current lender? In such a situation, you can switch to another lender by consulting with a mortgage broker. These are mortgage experts who are versatile in their profession and have the knowledge and expertise to help you find the right lender and product to suit your financial needs.

As of July 1st, CMHC is tightening its guidelines for high-ratio/insured mortgages, to reduce demand and stabilize housing markets. It’s also a direct response to the high number of mortgage deferrals after the COVID-19 pandemic. Read on to learn more.

Organizing a successful move into a new home can be quite a challenge. After all, moving can often create a list of never-ending chores, making the process stressful or laborious. Yet, with a little preparation, you can handle the task with ease and complete it quickly.

As coronavirus (COVID-19) continues to spread across countries and cities, economies across the world have taken a hit. Uncertainty in the markets, declining economy, and rise in unemployment have impacted thousands of lives. If you’re finding it challenging to pay your rent or meet your mortgage payments, and other expenses, you’re not alone. 

As a leading mortgage broker in Toronto, ON, I’m offering my clients the chance to be entered into a draw to win one of seven amazing prizes.

Obtaining a mortgage can be a tedious process, especially with the tighter approval criteria presented by the Canadian lending authorities. But, once your mortgage is approved, you can relax for a bit until it’s time to renew your mortgage.

How much do you actually know about reverse mortgages? Most people know that they are available to help Canadians who are fifty-five years and older with access to equity in their homes tax-free. But many people mistakenly think that Canadian reverse mortgages are just like those offered in the U.S.