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The most important step in getting approved for a loan with bad credit is to improve your credit score. If you had a bankruptcy, once your bankruptcy has been discharged, you can apply for a secured credit card. Do a little searching online and you’ll find...
A mortgage broker’s job is to work for you as the liaison or connection to a lender. You benefit because you don’t have to deal directly with different lenders or shop from bank to bank in search of the best rate and places where you qualify. Basically, when...
As a result of its annual review of its insurance products and capital requirements, CMHC is increasing its homeowner mortgage loan insurance premiums for homebuyers with less than a 10% down payment. Effective June 1, 2015, the mortgage loan insurance premiums for...
It is City Tax Payment time…. Have you applied for your home owner grant? Just want to give you a heads up that city taxes are due July 2, 2015. You HAVE to apply every year for your homeowner’s grant and additional grants that affect anyone 65 or older. Here is some...
Private lending is a tool that many mortgage brokers don’t access as it feels far too complicated and remains somewhat of a mystery. But a good mortgage broker will always know ALL the options for financing your mortgage. At GLM Mortgage Group, we access every...
With interest rates sitting at the lowest we’ve ever seen – low rates never before seen by your parents and even your grandparents – now is an ideal time to tap into the available equity in your home or cottage to fund your renovation or landscape needs. But these...
If you’re like many newcomers to Canada, one of your top financial goals is likely to own a home in your new country. With that in mind, you’ve likely considered how much you can afford as a down payment, what you’re looking for in a home and what neighbourhood you’d...
Let's proceed on the assumption that you're taking out an individual construction loan. Such loans, which can be tough to get without a previous banking history because of the lack of collateral (a finished home), have special guidelines and include monitoring to...
Sales volumes up 37 per cent year over year and listings down 14.5 per cent as Valley mirrors hot Vancouver market. Home sales growth in the Fraser Valley matched that of Greater Vancouver in April, rising 37.5 per cent year over year, according to Fraser...
"B.C. is poised to lead the provinces in economic growth for the first time in a decade, according to BMO’s Blue Book report." [Source] The latest edition of the BMO Blue Book shows how Canada’s economic landscape is shifting due to the lower oil prices...
You've spent hours picking the perfect tile, counter tops and cabinets. You researched the best stoves, dishwashers and refrigerators. Your budget is set and your favourite contractor is available. Now you just need to figure out how to pay for it all. It starts with...
Today's blog will cover some highlights of Investment Property financing with GLM Mortgage Group. It is all about Debt Servicing DEFINITION of 'Debt Service' The cash that is required for a particular time period to cover the repayment of interest and principal...