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Blog by Linda M Linfoot

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Five Steps to scoring a mortgage

May 13th, 2011
Five steps to scoring a mortgage Amy Fontinelle Investopedia.com A variety of factors can keep you from qualifying for a mortgage. The big ones include a low credit score, insufficient income for the size of the loan you want, insufficient down payment and excessive debt. All of these factors are within your control, however. Let's take a look at your options for overcoming any liabi ...
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Posted in Mortgage Information

Convincing Them it's NOT all about Rate

May 5th, 2011
Convincing them it's not all about rate As a mortgage broker, one of the most difficult tasks can be to convince a headstrong client that, when it comes to finding the best mortgage, they have to consider more than rate. A recent report by ING Direct confirms this fact - with 71% of respondents confirming that rate is, indeed, the most importan ...
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Nine Signs you can't afford a Mortgage

May 3rd, 2011
Nine signs you can't afford a mortgage Michele Lerner Investopedia.com While plenty of individuals live from paycheque to paycheque, most consumers know they should be saving money and reducing debt. The recession has drummed that concept into everyone's head as people have watched their neighbours and friends lose jobs and sometimes their home. Many people say that money worries k ...
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Experts Best at Brokering Mortgage

March 31st, 2011
Experts best at brokering mortgage Denise Deveau, Postmedia News · Mar. 30, 2011 | Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close a deal on a new townhouse in Calgary without a hitch. Now in their early thirties, both have careers in the theatre, something Ms. Hutton says ...
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Mortgage Literacy Crucial for First Time Buyers

March 31st, 2011
Mortgage literacy crucial for first-time buyers Vito Cupoli, Postmedia News · Mar. 30, 2011 Two years ago, when Michelle Gompf and Jesse Bagelman started thinking about buying a house, they assumed it would be impossible to qualify for a mortgage because of some heavy debt and Mr. Bagelman's status as a self-employed stone mason. Rather than give up, Ms. Gompf -now Gompf Bagelman -lau ...
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Decrease to the Bank of Canada's Qualifying Rate

March 28th, 2011
The Bank of Canada Qualifying Rate has decreased to 5.34% which is effective today, March 28th, 2011.
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Newsletter

March 22nd, 2011
Newsletter - March
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Calculating your Debt Service Ratio

March 7th, 2011
Calculating your debt service ratio With all the talk about debt that’s been in the news lately, you may be tempted to see where you stand financially – especially with the looming threat of increasing interest rates. An easy way to do this is by calculating your debt-service ratio – the same calculation that banks use to determine whether you’re a ...
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What you should know about Collateral Mortgages

March 1st, 2011
Collateral Mortgages - by Morgan Vaughan Recently, it was announced that a major Canadian Lender would be registering all new mortgages as “collateral mortgages”. So what exactly is a “collateral mortgage?” 1. It’s a loan attached to a promissory note and backed up by the collateral security of a mortgage on a property. 2. Collateral mortgages have historically been used to regi ...
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Posted in Mortgage Information

Purchase Plus Improvements

February 24th, 2011
  PURCHASE PLUS IMPROVEMENTS IF YOU HAVE YOUR ON A FIXER-UPPER, THINKING ABOUT BUILDING YOUR DREAM HOME, OR WANT TO PURCHASE A NEW HOME THAT NEEDS A FINISHED BASEMENT… FINANCING YOUR ENDEAVOURS MAY BE EASIER THAN YOU THINK. “Renovation Mortgages" allow homeowners to renovate a newly-purchased or refinanced home, or build a new one, and roll the cost of the improvements into the bala ...
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