Top Canadian Mortgage Marketing Blogs | Mortgage Broker Blogs

Top Canadian Mortgage Marketing Blogs | Mortgage Broker Blogs

Top Canadian Mortgage Marketing Blogs | Mortgage Broker Blogs

Get The Answers To Your Home Mortgage Questions

Owning a home is a huge responsibility which shouldn’t be taken lightly. The first step is often to get approved for a mortgage, but there is a lot to learn before you dive right in. People who have taken mortgage in the past have contributed their knowledge to this article so you can learn how to avoid the mistakes they’ve made, so read on.

Predatory lenders are still in the marketplace. These lenders usually prey on home buyers with less than perfect credit. They offer low or no down payments; however, the interest rates are extremely high. Additionally, these lenders often refuse to work with the homeowner should problems arise in the future.

Do not sign up with the first mortgage lender or broker that you come across. There are so many out there that you would be doing yourself a disservice by being hasty. You should shop around a bit to make sure that the rate you are being offered is fair and competitive.


Our Top Choice Canadian Mortgage Blogs

We regularly look for the best mortgage blogs from Mortgage Brokers across the country. This list will grow as we determine which brokers add value by blogging well for each real estate market in Canada.

So here are our top choices:

      • Canadian Mortgage Trends is arguably the premier mortgage industry blog in Canada with regular content. Many brokers sign up to their newsletter to stay on top of changes in the world of mortgages across Canada.
      • Mortgages for Less is a Calgary Mortgage Broker team that regularly produces content. They have a regular series of Mortgage Minute videos that are very helpful as well as a large library of information readily available on their site in their Mortgage 101 section!
      • Landmark Mortgages is run by Sidney, BC mortgage broker Kyle Scott but provides mortgage loans across British Columbia. Kyle Scott and his team service clients in all parts and have a lot of experience.
      • Clint Wilkins is part of CENTUM Home Lenders and does a monthly Mortgage 101 PodCast Series with Halifax City News that is very insightful.
      • Ron Butler of Butler Mortgages runs an online brokerage based in Ontario. His regular updates on the blog as well as “X” formerly known as twitter are insightful.

Check your credit report before applying for a mortgage. With today’s identity theft problems, there is a slight chance that your identity may have been compromised. By pulling a credit report, you can ensure that all of the information is correct. If you notice items on the credit report that are incorrect, seek assistance from a credit bureau.

Have your documents carefully collected and arranged when you apply for a loan. Most mortgage lenders ask for similar documentation. These documents include prior year tax returns, bank statements, and recent pay stubs. Having documents available can help the process.

If you can afford a higher monthly payment on the house you want to buy, consider getting a shorter mortgage. Most mortgage loans are based on a 30-year term. A mortgage loan for 15 or 20 years may increase your monthly payment but you will save money in the long run.

Make sure you know how much you can afford before applying for a mortgage. Do not rely on what your lender says you can afford. Make a budget, allowing room for any unexpected expenses. Use online calculators which can help you estimate how much mortgage you can afford to pay monthly.

If you are offered a loan with a low rate, lock in the rate. Your loan may take 30 to 60 days to approve. If you lock in the rate, that will guarantee that the rate you end up with is at least that low. Then you would not end up with a higher rate at the end.

Find out how much your mortgage broker will be making off of the transaction. Many times mortgage broker commissions are negotiable just like real estate agent commissions are negotiable. Get this information and writing and take the time to look over the fee schedule to ensure the items listed are correct.

Look over you real estate settlement statement before signing any papers. Your mortgage broker is required by law to show how all the monies are dispersed at the closing. If the seller has agreed to pay for some of the closing costs, ensure that this is noted on the settlement statement.

Research potential mortgage lenders before signing your bottom line. Do not ever take a lender at their word. Ask around. Look them up on the Interenet. Contact your local Better Business Bureau and ask them about the company. Don’t sign the papers unless you do your research first.

If you are a retired person in the process of getting a mortgage, get a 30 year fixed loan if possible. Even though your home may never be paid off in your lifetime, your payments will be lower. Since you will be living on a fixed income, it is important that your payments stay as low as possible and do not change.

Be sure to have all your paperwork in order before applying to a lender. You will need to have good documentation of your income, your tax status and your financial obligations. Ask each lender you intend to apply with exactly what is needed for a successful application. Gather your documentation accordingly so that your home mortgage application process will be smooth, simple and successful.

Do not take out a mortgage loan in order to buy the most expensive home on the block. While that may seem like a good idea, it can have a negative impact on your financial future. Since home values are calculated based on all of the homes around them, which means that later on you may have a hard time selling it for its full value.

Now that you’ve read about the truth when it comes to getting a mortgage, you will avoid the hurdles which tripped up your peers in the past. Their struggles will make your mortgage application process smooth sailing. Be sure to use these tips, otherwise you will face the same perils they did.