Who pays your mortgage broker? Not you!

If you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker, North East Mortgages President Terry Kilakos explained. “On standard residential mortgages, it’s 100% free for…

Education in Real Estate is Key

Education in real estate is a key element in a successful real estate or financial decision you make. In 1999 when I got into this crazy world of finance I realized early on that consumers lacked in this fundamental component.  I have personally witnessed the ruin of many a man and woman. Trusting underqualified financial security…

Income The Misunderstood Element

In our evolving explanation of the elements required to secure a mortgage, we come to one of the most misunderstood elements in the group. Income can be derived from various sources. Because of that reason banks will treat different sources of income differently. To understand this we must first understand what happens behind the scenes when a…

Credit Score the First Element

Your credit score is the first element that is looked at when one applies for financing. You can say that it is the lifeblood of your financial profile. In Canada, we have two main credit reporting agencies. They are Equifax & Transunion. Both agencies gather and build profiles on Canadians and use that information to determine…