Fred Darlington
11 Wellington st E Aurora, ON, Canada

A pre qualification provides you with a ballpark estimate of how much you will be able to afford based on your own self-reporting of your financial situation. A pre approval is also based on your own self reporting but also provides you a rate hold (generally from 90 to 120 days) from a particular lender.

Rules are changing June 1. If you’re thinking about refinancing don’t wait. Contact me now!

Interesting view for coronavirus

The qualifying rate is the Bank of Canada’s conventional 5-year fixed rate. The contract rate is the rate offered by the lender on the homebuyer’s actual mortgage commitment. #faqthursday

Let’s chat about your mortgage needs. #getapproved

Did you know? If you’re new to the world of credit, consider the 2-2-2 rule. Lenders want to see two forms of revolving credit (ie.credit cards) with limits no less than $2000 and a clean payment history for 2 years. #mortgagetiptuesday

Great question! I work with Monoline lenders who specialize in a single type of financial service. These types of lenders do not have branches and can be accessed through me. #faqthursday

Buying a home for the sole intention of residing in the dwelling yourself can have big rewards! There is even room for a rental component (mortgage helper), but it is key for the purchaser to live in it! You may borrow up to 95% for many owner-occupied purchase in most urban areas. For investment properties, the maximum loan is 80% and will have higher insurance premiums. #mortgagetiptuesday

Fraud, property lines, encroachment, wells, septic. Home ownership can come with some risks. Title insurance can protect consumers AND mortgage lenders against most. Did you know? Title insurance is most commonly used to protect against title fraud, which involves an individual using stolen personal information or forged documents to transfer home titles. #mortgagetiptuesday

A pre-qualification provides you with a ballpark estimate of how much you may be able to afford based on your own self-reporting of your financial situation. This helps set a realistic price range for those eager to start shopping the real estate market. #faqthursday #canadamortgages

Why should you use a Mortgage Agent? https://www.youtube.com/watch?v=AvUQeUl1U9A&feature=share

When it comes to rental properties the mortgage will have a premium which can range from 0.10% to 0.20% on a regular five year fixed rate. #mortgagetiptuesday

Don’t forget that clocks go back tomorrow!

The Bank of Canada hold rates steady