5 REASONS WHY YOU DON’T QUALIFY FOR A MORTGAGE

General George Macris 18 May

It’s not just because of finances. As a mortgage broker I receive calls from people who want to know how to qualify for a mortgage. Most of the time it comes down to finances but there are other reasons as well. Here are the 5 most common reasons why your home mortgage loan application could […]

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ACCESSING YOUR HOME’S EQUITY TO INVEST

General George Macris 1 May

To tap into your home’s equity, it all starts with refinancing your home. If you own a home, the equity you have built up in it is one of the most valuable assets you have available to you. It is also much more accessible than taking out a large loan. In many cases, home equity […]

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PRE-APPROVALS & PRE-QUALIFICATIONS

General George Macris 30 Apr

Throughout the mortgage and home buying process, there are many steps and many checkpoints a buyer will need to complete before they can move on to the next one. A buyer will not be able to close on a purchase if they do not have a lawyer. Financing conditions need to be lifted after confirmation […]

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THE FAMILY PLAN PROGRAM EXPLAINED

General George Macris 25 Apr

Genworth Canada, one of the three mortgage default insurers in Canada, offers a program called Family Plan. It provides you with a solution which only requires a 5% down payment to take advantage of its unique solutions to family problems. In the past, I have used this with clients who want to purchase a home […]

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BUYING YOUR FIRST HOME? – THESE TIPS WILL SAVE YOUR LIFE

General George Macris 25 Apr

So you’re wanting to buy a new home? That is some very exciting news. First question, are you prepared?! We all know big-item purchases are scary. It’s expensive, you are fully committing to this household – there is no turn backing without that pricey consequence. We totally get it. The ultimate first-step is to do […]

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THE #1 MISCONCEPTION ABOUT MORTGAGE FINANCING!

General George Macris 17 Apr

It is a reoccurring but common misconception that you will qualify for a mortgage in the future because you have qualified for a mortgage in the past. This is not accurate! Do. Not. Assume. Anything. Even if your financial situation has remained the same or has improved, securing mortgage financing is more difficult now than […]

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A BANK THAT MAY NOT BE FAMILIAR TO YOU

General George Macris 17 Apr

Quiz time! Who is the largest non-bank mortgage originator in Canada with over $100 billion dollars in mortgages under administration? Answer – First National Financial Corporation. If you’ve never heard of them before, don’t feel bad. The only way to get a First National mortgage is through the broker channel. They do not have any […]

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7 STEPS TO BUYING A HOME

General George Macris 4 Apr

It’s important to understand the home buying process, so here’s a 7-step checklist. Step 1: Down Payment The hardest part to buying a home is saving the down payment (a gift from the Bank of Mom & Dad also works). • For purchases under $500,000 minimum down payment is 5%. • Buying between $501-999,000 you […]

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HOW TO RENEW YOUR MORTGAGE IN 5 SIMPLE STEPS!

General George Macris 29 Mar

If you have a mortgage, you’ll be completing a mortgage renewal when your current term has finished. While most Canadians spend a lot of time and expend tons of effort shopping for an initial mortgage, the same is generally not the case when looking at mortgage renewals. So what is a mortgage renewal? Mortgages terms […]

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NUTS & BOLTS OF THE FEDERAL 2019 BUDGET | WHAT YOU REALLY NEED TO KNOW!

General George Macris 21 Mar

On March 19, the Federal Government announced the official 2019 budget. One major topic on the discussion table (and one we were all holding our breath for) was the discussion of affordable housing in Canada. So just what happened on “Budget Day?” Here are the highlights of the 2019 Federal Budget: MORTGAGE INDUSTRY RELATED: CMHC […]

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