Tag: Mortgage Tips & Advice

Incorporate Balance Transfer Offers into Your Arsenal

Incorporate Balance Transfer Offers into Your Arsenal

As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers.

But there are a few instances in which w…

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5 Steps to a Guaranteed Mortgage Approval

This is one spot that no one wants to end up in: you’ve found the house you want, your offer has been accepted, but it all falls through because you don’t have financing in place. Lenders deny mortgage applications all the time, and it pushes would-be homeowners back to square one.

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6 Reasons to get Pre-Approved for a Mortgage Early

When you think of the first steps involved in buying a home, you’re probably thinking about talking to a real estate agent and viewing homes, however, these aren’t the first steps toward buying a home.

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THE MORTGAGE PROFESSIONAL (Secret 5 of 5)

Make sure you’re working with an experienced professional mortgage planner. The largest financial transaction of your life is far too important to place into the hands of someone who isn’t capable of advising you properly and troubleshooting the issues that may arise along the way.

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MORTGAGE PAYMENT OPTIMIZATION (Secret 4 of 5)

Mortgage payment optimization at its core is simply increasing your regular mortgage payment to prepare for potential interest rate increase at the end of your mortgage term and protects you from against payment shock.

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THE PENALTY COVER UP Mortgage (Secret 3 of 5)

Canadian mortgages are all set up with a specific term, usually five years, a mortgage penalty happens when you change the terms of that mortgage before the expiration of that term.

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THE POSTED RATE SCAM MORTGAGE (Secret 2 of 5)

This is one of the biggest scams in the mortgage industry, and in my opinion (and many more in the industry) the posted rate at the time when you received your mortgage should have no impact on how much your penalty is.

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5 SECRETS THE BANK DOESN’T WANT YOU TO KNOW ABOUT YOUR MORTGAGE (Secret 1 of 5)

No seriously, rate IS NOT everything… here’s why:
There’re many other features of a mortgage that have proven to be far MORE important. If you look deep in the fine print of every lending institution you will find many differences between each banks terms, conditions, and fee schedules that will have a significant impact on the total cost of a mortgage.

Can You Qualify For A Mortgage After A Consumer Proposal?

Can You Qualify For A Mortgage After A Consumer Proposal?

After you file a consumer proposal, the last thing on your mind might be a new mortgage, but you may be a lot closer than you think. Maybe you wish to buy a home, or you own a home and are interested in refinancing your mortgage. Let’s first talk about purchasing a home. When Can […]

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About

East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.