Mortgage Process FAQs
How do lenders determine how much house I can afford?
Lenders' affordability calculations can vary, but for the most part, they use two percentages based on your monthly income — your Gross Debt Service (...
Home Appraisal vs. Comparative Market Analysis (CMA)
When navigating the world of home buying, selling, or refinancing, you'll encounter various tools used to assess property values. Two commonly used me...
Understanding the Role of Computershare in a Mortgage Transaction
Introduction For prospective homeowners and those refinancing their mortgages in Canada, navigating the complexities of mortgage transactions can be c...
What are mortgage instructions?
When navigating the mortgage process, there are a multitude of documents, terms, and procedures that one might come across. For those involved in the ...
Understanding the Need for Independent Legal Advice (ILA) for Non-Title Spouses in Mortgage Transactions
Introduction: When one spouse is not included on the mortgage and title of a property, they may still be required to sign an Independent Legal Advice ...
Mortgage Transfer/Switch in Canada: An Overview
Purchasing a home is likely one of the biggest financial commitments you'll make in your lifetime. With that comes the responsibility of choosing the ...
How do mortgage brokers get paid?
Navigating the world of mortgages can be a complex task, especially for first-time homebuyers. That's where mortgage brokers come in. These profession...
The Differences Between Getting a Mortgage Through a Bank vs. Using a Mortgage Broker
When it comes to securing a mortgage, you generally have two primary options: going directly through a bank or working with a mortgage broker. Both av...