Paying the Mortgage Penalty. Dun Dun DUNNN!

Did you know? 80% of  Canadians don’t finish their mortgage term. Why is that? Well, it’s because life happens. Circumstances change. Marriages. Divorces. Children. Some people will refinance to take the equity out of their home for renovations, some will refinance to consolidate date. Sometimes even buying a new home can cause you to break your mortgage. Whatever the reason, when you break the terms of your mortgage before the maturity date, you’ll have to pay a penalty. But it’s not all

Bank or Broker: What’s the Difference?

When it’s time to sit down with a mortgage professional, it’s important to understand the difference between what a traditional bank can offer and what an independent mortgage broker can provide. Mortgage brokers have been around for decades. Whereas the big banks only created a mobile mortgage segment in their operations in recent years as a way to better compete with the growing number mortgage originations coming from independent mortgage brokers. At very first glance, it may seem like MMS’s

5 Tips for a Holy Grail Credit Score

A credit score in the 800s is like the holy grail of credit. If you have a score in this range, lenders will be clambering to get your business. You’ll get access to the absolute best mortgage rates in the market, which means interest cost savings, which means more money in your pocket. And that is always a good thing. So how do you get an 800+ score? First, let’s take a look at how your credit score is calculated. And

8 Pretty Darned Good Reasons to Work with a Mortgage Broker

A recent survey indicates 40% of mortgage applications in Canada are completed by mortgage brokers. But what about the other 60%? Perhaps 60% of Canadians don’t exactly know what mortgage brokers do and what they can offer, because if they did, If more people understood the value of a mortgage broker, I’m going to guess more and more Canadians would seek out a mortgage broker for all their mortgage-related needs. You might’ve heard the quote from acclaimed human-being, Maya