Mortgage Fine Print

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Many people overlook understanding mortgage fine print. Majority of consumers focus just on the interest they get for the term however do not look at what the fine print could do for them. Let’s review a few things: 1. Prepayment options: There are many out there but here is a…
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Mortgage Meeting

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Prepping for Your Mortgage Broker Meeting Prepping for your mortgage broker meeting requires a little knowledge and a few documents. Understanding what it takes to get approved is very important. You will want to review a few areas to make sure you are ready. 1. Employment – You will need…
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Appraisals vs Inspections

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An appraisal vs Inspection, what is the difference? An appraisal is completed by a certified property appraiser. It determine's the value of the property. It isn’t always required however it is the lenders choice. Appraisals are usually required when there is more than 20% down payment thus avoiding the insurance…
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Buying Your First Home.

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Buying your first home? Here’s what you need to know. Buying your first home is one of the most exciting and rewarding moments in your life! People dream of the perfect home but not the perfect mortgage however Mortgage Tailors does. Our first-time homebuyer section guide's you through the steps…
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Steps to Homeownership

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Steps to Homeownership There are many steps to homeownership before getting the keys to a new home, and the biggest challenge these days is getting approved. Typically, most buyers would visit their local bank however in today's changing environment, mortgage brokers have more options to help secure a mortgage. Let’s…
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Consumer Debt Problem

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Consumer Debt Problem The Canadian Government has intercepted to try and help consumers stay out of debt by making mortgage rules difficult. It currently allows refinances to 80% of the appraised property value. This was done to keep consumers from accessing their home equity and using it as an ATM…
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Fixed vs Variable Costs?

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Fixed vs Variable Costs? Which is Better? Understanding the differences between a fixed-rate mortgage and a variable rate mortgage is important when considering a loan. Whether you are buying, refinancing, or doing a debt consolidation, understanding the differences between fixed and variable interest rates can help save you money and…
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