The number of self-employed Canadians remains stable, and with about 2.6 million self-employed people, you can bet some will be coming to you to help finance a mortgage. You might have two types of self-employed clients walking through your door: The first type can demonstrate consistent earnings over time. Read More
One three-digit number has a lot of power. A client’s credit score is a critical factor in getting approved for a mortgage, and it can affect the interest rate on that mortgage. That credit score is calculated using a complex set of algorithms that consider the following factors: Length of… Read More
Are you aware that, according to CMHC, one in three mortgage borrowers are renewing their loans with an alternative lender? In today’s challenging interest rate environment, having an alternative lender in your contacts is crucial. If you haven’t explored this option yet, now is the time. Not all… Read More
If you have a client looking for an investment property mortgage, check out Bridgewater Bank’s Gateway Rental Mortgage. It’s an ideal solution for those who want to own rental properties but may not qualify for a traditional big-bank mortgage. It also gives you the opportunity to… Read More
If there’s one thing we’ve learned as technology marches forward—from phone calls to email and text—it’s that fraudsters will always find inventive ways to keep up. But even as we move to more sophisticated means of communication and security, there are still some basic things that posers do when it… Read More
As a mortgage professional, you would not intentionally allow fraud of any kind on a mortgage application. How common could it be anyway? You’d be surprised, and more than ever, you should be on your guard against it. There are many types of mortgage fraud, but these… Read More
With the recent rise in interest rates, industry conversations are naturally turning to the effect on Canadians trying to get a mortgage. And as much as potential home buyers may have had their frustrations about the mortgage stress test in recent years, that will help them cope with this rise… Read More
There’s a growing market in the mortgage industry…people who are new to Canada. According to Statistics Canada, the Canadian population saw a record surge in growth last year. About 95.9% of this growth was fueled by immigration. The number of permanent residents arriving in Canada is expected… Read More
Make sure to download this handy infographic PDF to learn more about what the 5 Cs of Credit are. Before you submit an alternative lending deal to your lender, it’s important to dig deep into your client’s story. The more information gathered from your clients, the… Read More
