What Is The New Mortgage Stress Test?
On May 20, 2021 Canada’s department of finance announced new qualifying rates for al uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) announced that effective June …
Category: Mortgages Explained
Should you use a mortgage broker?
You are probably reading this article because you have a general idea of what a mortgage broker is, but are wondering why use a mortgage broker? What value does …
How To Avoid The Mortgage Stress Test
In late 2017 the federal government introduced a mortgage stress test for Canadians that are applying or renewing a mortgage. Again on April 6, 2020 the stress test changed …
How long does it take to get approved for a mortgage in Canada?
In this blog post we’re going to answer a very common question; how long does it take to get approved for a mortgage in Canada? Alex Lavender has been …
How long does a mortgage pre-approval last?
It is important to know the difference between an approval and a pre-approval for a mortgage. A pre-approval is based on estimates using theoretical figures for a property. An …