If you are interested in financing your dream home in Markham, you will be required to pass the mortgage stress test. This test applies to all types of mortgages and is designed to ensure that you can make your monthly mortgage payments, even as rates fluctuate over the years. What is the ... » Learn More about What is the Mortgage Stress Test?
Mortgages
How Your Credit Score Affects Your Home-Buying Process
When purchasing a home, many factors are taken into consideration to ensure you can financially afford the home. One of these factors, which is at the top of the list, is your credit score. This is a three-digit number that ranges from 300 to 900 points. This number is an accumulation of your ... » Learn More about How Your Credit Score Affects Your Home-Buying Process
Where Should I Get My Mortgage?
A mortgage is a home loan that is used to purchase a house in Markham. When you are in the market for a new property, it is important to shop around and look at different sources for mortgages. Each lender may have a different interest rate and conditions you must meet before you qualify for ... » Learn More about Where Should I Get My Mortgage?
Questions You Must Answer When Applying for a Mortgage
When purchasing a home in Markham, you will work closely with a mortgage lender to receive the proper financing. The lender’s job is to determine if you qualify for a home loan. They must make sure you can actually afford the home you wish to purchase and you are not a risk. To help your ... » Learn More about Questions You Must Answer When Applying for a Mortgage
What is Amortization?
If you are a first-time homebuyer, many terms may confuse you. Amortization is one word you may often hear but not know what it means and how it affects you. Let’s take a closer look at this word and why you should know it. What is Amortization? Amortization is essentially the ... » Learn More about What is Amortization?