HOW TO GET A 5% DOWN PAYMENT FOR A $500,000 PURCHASE

General Alan J. Nicholas 24 Jun

We have seen a return of the buyers’ market and many people are asking, how long will this last? While some renters without a down payment might be asking, how can o put a plan in place to own? With the cost of living so high, and student debts coming out of school, many consumers […]

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DEBT: TO CONSOLIDATE OR NOT TO CONSOLIDATE? THAT IS THE QUESTION

General Alan J. Nicholas 11 Jun

If you are a Canadian living in debt, you are not alone. According to Statistics Canada, household debt grew faster than income last year, with Canadians owing $1.79 for every dollar of household disposable income to debt(1). • Canadian households use almost 15% of income for debt re-payment(1). • 7.3% of this re-payment goes towards […]

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CREDIT CARDS FOR THE CREDIT CHALLENGED

General Alan J. Nicholas 10 Jun

If you want to buy a home and don’t have a bucket load of cash – you are going to need a mortgage. In order to get a mortgage, you are going to need credit… When you get a mortgage, banks lend you “their” money and secure the loan against the property you are buying.  […]

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5 THINGS NOT TO DO BEFORE CLOSING ON YOUR NEW HOME

General Alan J. Nicholas 7 Jun

1. Change your job. You were qualified for your mortgage financing based on your income, years at the job and the understanding that you were there for a while. Changing jobs should be put off until after possession day. 2 – Changing your name. Make sure that your identification and your name match. Do not […]

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PRE-APPROVALS & PRE-QUALIFICATIONS

General Alan J. Nicholas 5 Jun

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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WHAT IS A MORTGAGE BROKER?

General Alan J. Nicholas 30 May

You may have noticed that there are many different terms for those of us who work in the mortgage industry besides “broker”. Mortgage: specialist, expert, advisor, associate, officer, etc. I just want to clear up some potential confusion with all these monikers. There are 2 main categories that these fall in to. Those that work […]

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6 WAYS TO GET A DOWN PAYMENT

General Alan J. Nicholas 29 May

When is it time to think about saving for a down payment? I would say about a year before you think about buying a home. While that’s ideal in today’s world, we often do not have much time to save for a down payment. Sometimes your landlord is planning on retiring and wants to sell […]

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5 THINGS NOT TO DO BEFORE CLOSING ON YOUR NEW HOME!

General Alan J. Nicholas 29 May

1. Change your job. You were qualified for your mortgage financing based on your income, years at the job and the understanding that you were there for a while. Changing jobs should be put off until after possession day. 2 – Changing your name. Make sure that your identification and your name match. Do not […]

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