Mortgage Approvals Blog Articles

How Will the June 1 Mortgage Stress Test Change Affect You?

How Will the June 1 Mortgage Stress Test Change Affect You?

Starting June 1, homebuyers in Canada will have a tougher time applying or renewing their mortgage. The Office of the Superintendent of Financial Institutions (OSFI) has decided to increase the mortgage stress test to 5. 25%, up from the previous 4. 79%. A mortgage stress test is a stringent set of…

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Does A Pre-Approval Damage Your Credit Score?

Does A Pre-Approval Damage Your Credit Score?

I often meet with home buyers who are in the ‘getting ready’ stage of the home buying process. At this time, they may have met with a mortgage specialist to determine if they are on the right track financially. They meet with me because they need more information about the ‘looking at homes…

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Can I Get An Online Mortgage Pre-Approval? Heck Yes You Can!

Can I Get An Online Mortgage Pre-Approval? Heck Yes You Can!

You might wonder if you can submit an online mortgage pre-approval form or if you have to go to the bank and talk to someone face to face. You can get an online mortgage pre-approval, tons of mortgage specialists are offering online applications. They understand that people are busy and don’t…

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