When it comes to buying a home, refinancing, or renovating, navigating the complex world of mortgages can be daunting. This is where the expertise of a mortgage broker becomes invaluable. In this blog, we will explore the numerous benefits of using a mortgage broker to help you understand why enlisting their services can be a game-changer in your journey to secure the right mortgage.

📣 Exciting News for Homeowners! 🏡💰

Great news from OFSI! Canada’s banking regulator has announced the end of the stress test requirement for borrowers switching lenders at renewal. This means you can qualify at your new mortgage rate without the added 2% stress test!

Buying a home is a significant investment, and the process can be overwhelming, especially for first-time homebuyers. From finding the perfect property to securing financing, there are many steps involved in the homebuying process. Fortunately, working with a mortgage broker can help simplify the process and make it less stressful.

As a Burlington mortgage broker with over 25 years of experience in the banking industry, Bob Beach and his team at The Burlington Mortgage Centre are experts in helping clients navigate the homebuying process. In this blog post, we'll explore how mortgage brokers can help you find the right mortgage and lender for your needs while reducing stress and saving you time.

If you're planning to buy a home, getting a mortgage is an essential part of the process. However, with so much at stake, it's important to avoid common mistakes that can hurt your chances of getting approved for a mortgage, or result in a higher interest rate. In this blog, we'll discuss some of the most common mistakes to avoid when applying for a mortgage in Canada. Whether you're a first-time homebuyer or a seasoned homeowner, these tips can help you make informed decisions and save money in the long run.

Refinancing your mortgage can be a great way to save money, reduce your monthly payments, and even pay off your mortgage faster. But before you decide to refinance, it's important to understand what it is, how it works, and why it might be a good option for you.

If you're looking for a mortgage, you might be considering private lending as an option. Private mortgage lending is an alternative to traditional lending from banks or credit unions. In this blog, we'll give you an overview of private mortgage lending and help you understand if it's the right option for you.

As a potential homebuyer, getting pre-approved for a mortgage is an essential step in the home-buying process. It allows you to know how much money you can borrow and what your monthly payments will be. However, the mortgage pre-approval process can be overwhelming and confusing, especially for first-time homebuyers. In this blog post, we'll break down the mortgage pre-approval process and explain everything you need to know.

As a self-employed individual, you are your own boss, and you have the freedom to create your own work schedule. However, when it comes to applying for a mortgage, self-employment can complicate matters. Unlike salaried employees, self-employed individuals have to prove their income in a different way to ensure mortgage approval.

At Bob Beach - The Burlington Mortgage Centre, I have been helping clients find the right mortgage for their needs for over twenty-five years. With the housing market constantly changing and mortgage options growing, it can be overwhelming for clients to navigate through the mortgage process. In this blog, I will share my expertise on how to find the right mortgage broker and how to choose the best mortgage for your needs.

For many years, traditional banks have been the go-to source for mortgage loans. However, the mortgage industry has undergone a major shift in recent years with the rise of non-bank and private lending. As a result, borrowers now have more options than ever before.
In this blog, I will explore the benefits of non-bank and private lending and why it may be a better option for you.
 

Are you tired of paying high-interest rates on your mortgage? Refinancing your mortgage can be a great way to save money on your monthly payments and overall interest paid over the life of the loan.
Bob Beach - The Burlington Mortgage Centre has helped many homeowners unlock the secrets of refinancing their mortgage and is here to share his expertise with you.
Here are some of the key points to consider when refinancing your mortgage:

At the start of a new year, I try to reflect on the previous year’s successes and challenges. Last year was one of dramatic change. We started 2022 with record low mortgage rates and a flourishing real estate market. By mid year, rates had climbed and the real estate market cooled.

We’ve entered 2023 with record high mortgage rates, both fixed and variable. In addition, the real estate market is confusing for both buyers and sellers, and the bad news published in the media every day is causing many to sit on the sidelines.

Bob Beach - The Burlington Mortgage Centre wishes you and your family a happy and safe holiday season and all the best for the New Year 2023!

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Original Article Source Credits: Narcity, https://www.narcity.com/

Article Written By: Tristan Wheeler

Original Article Posted on: July 25, 2022

Link to Original Article: https://www.narcity.com/the-canadian-mortgage-stress-test-changed-heres-what-that-means

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Original Article Source Credits: The Hamilton Spectator, https://www.thespec.com/

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Link to Original Article: https://www.thespec.com/business/real-estate/2022/07/26/you-need-an-income-of-nearly-180000-to-buy-a-home-in-hamilton.html

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Original Article Source Credits: CBC News, https://www.cbc.ca/

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Original Article Posted on: Jul 26, 2022

Link to Original Article: https://www.cbc.ca/news/canada/calgary/rising-interest-rates-mortgage-specialists-future-1.6530969

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Original Article Source Credits: BNN Bloomberg, https://www.bnnbloomberg.ca/

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Link to Original Article: https://www.bnnbloomberg.ca/housing-investors-are-heading-for-the-exits-as-rates-rise-1.1796593

Original Article Source Credits: The Globe and Mail, https://www.theglobeandmail.com/

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Link to Original Article: https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-canada-multi-generational-living-housing/

Original Article Source Credits:  BNN Bloomberg, https://www.bnnbloomberg.ca/

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Original Article Posted on:  Dec 2, 2021

Link to Original Article: https://www.bnnbloomberg.ca/home-price-gains-will-slow-sharply-in-2022-capital-economics-1.1690300

Original Article Source Credits:  Canadian Mortgage Trends, https://www.canadianmortgagetrends.com/

Article Written By: Ross Taylor

Original Article Posted on:  11th Jan 2022

Link to Original Article:  https://www.canadianmortgagetrends.com/2022/01/can-you-qualify-for-a-mortgage-while-on-probation-at-your-job/