There are approaching 3 million self-employed people in Canada – that’s almost 10% of the country! But obviously, with around 70% of Canadians owning their own home, there has to be a way for those of us that are self-employed to obtain a mortgage, right? Mortgage Monday Myth #2: Self-employed = no mortgage. It’s true… Continue reading Mortgage Monday Myths: You Can’t Get a Mortgage If You’re Self-Employed
Category: Mortgage Monday
A weekly column written by mortgage agent Tim L. Walker that discusses a wide variety of topics in the mortgage industry.
The Various Sources of Mortgage Funds
When you think about who actually funds mortgages (ok, I’ll admit it’s not a question a lot of people ponder for more than a couple of minutes), you may be surprised to find that mortgages are actually funded by a variety of sources – from banks (the obvious one) to credit unions and mortgage loan… Continue reading The Various Sources of Mortgage Funds
Mortgage Monday Myths: You Need a Down Payment
If you know me well, you know that I get a kick out of alliterations (especially when it comes to titles and categories like “Mortgage Monday“) – how could I resist a triple-alliteration with “Mortgage Monday Myths” right? The world of mortgage is filled with mis-information, mis-conceptions and myths (more alliteration – woohoo! ;)),… Continue reading Mortgage Monday Myths: You Need a Down Payment
Access to 1000 Lenders
One of the most common selling features you’ll see a lot of mortgage brokers and brokerages boast is how many lenders they “have access to.” But what does that mean, exactly? If Bob the Mortgage Broker (names changed to protect the innocent), has “access to” 35 lenders, and Melissa the Mortgage Broker has “access to”… Continue reading Access to 1000 Lenders
What IS a Mortgage Broker?
Most people are probably familiar with the term mortgage broker, but many Canadians aren’t really all that sure what a mortgage broker actually does, how much they cost, and how much money you can actually save you on your mortgage. The Mortgage Monday column will hopefully address those questions (and more) over the next couple of months, but… Continue reading What IS a Mortgage Broker?