Blog tagged as Insured

The 'Boldest Mortgage Reforms In Decades'!

The 'Boldest Mortgage Reforms In Decades'!

By Mortgages Foundations

This week started with quite the surprise announcement by the Federal Government as it was announced that they were making the 'boldest reforms in decades' regarding Canada's mortgage system. The announcement of the two major changes was definitely surprising to everyone as it was ...

19.09.24 06:21 PM - Comment(s)
Mortgages for Self-Employed or Business For Self (BFS)

Mortgages for Self-Employed or Business For Self (BFS)

By Mortgages Foundations

When it comes to understanding a mortgage for a self employed individual it is critical to recognize that the core principles of the mortgage remain the same whether you are self-employed or employed as a traditional employee. The process of securing a mortgage for a self-employed individual ca...

05.09.24 12:14 PM - Comment(s)
GDS and TDS

GDS and TDS

By Mortgages Foundations

When it comes to applying for a mortgage, there are two important numbers that your Mortgage Broker will pay attention to when qualifying you for the mortgage. These are your Gross Debt Service, or GDS, and Total Debt Service, or TDS, ratios. They are commonly referred to as the debt servi...

04.07.24 12:43 PM - Comment(s)
Down Payment

Down Payment

By Mortgages Foundations

If you're considering taking the big step towards homeownership, it's essential to understand what's involved when it comes to your finances. When purchasing a home, you'll need to make a down payment. This down payment is the initial amount of money you pay towards the total purchase price of the h...

21.06.24 05:17 PM - Comment(s)
Insured, Insurable and Un-Insured Mortgages

Insured, Insurable and Un-Insured Mortgages

By Mortgages Foundations

Sure, let's dive right into the topic of mortgages and specifically look at the differences between insured, insurable, and uninsurable mortgages. First, let's start with what an insured mortgage is. An insured mortgage is a type of mortgage that is backed by mortgage insurance. Mortgage insurance i...

22.04.24 02:44 PM - Comment(s)