Blog Articles

What Is An Interest Adjustment Date?

The interest adjustment date (IAD) typically falls on the 1st day of the month following your mortgage closing date.  The interest adjustment date is the period of time between the date the funds are advanced and the beginning of your first payment period.   Typically, this forms part of your closing costs but not in all cases.

What Is A Monoline Lender?

WHAT IS A MONOLINE LENDER? When you use a licensed Mortgage Professional, you will get access to their vast network of lending partners.  These partners include Chartered Banks, Credit Unions, Monoline Lenders, and private lenders.   This post will focus on monoline...

What Is A Collateral Charge Mortgage?

WHAT IS A COLLATERAL CHARGE MORTGAGE? Your mortgage gets registered with the Land Title Office in one of two ways: a standard charge or a collateral charge.  This post will focus on the latter. So what exactly is a collateral charge mortgage? Most Banks and Credit...

5 Ways To Kill Your Mortgage Approval

5 WAYS TO KILL YOUR MORTGAGE APPROVAL For many, buying a new home is a very rewarding experience.  Oftentimes, it is the biggest investment in a person's life.  It can also be a very stressful time, especially for first time buyers who aren't familiar with all the...

Refinancing Your Mortgage in 2018

REFINANCING YOUR MORTGAGE IN 2018 Changes to the Mortgage Qualification rules have been very dynamic in the past decade.  In an effort to curb runaway real estate prices, Governments at all levels have been making changes.  For a full breakdown of all the mortgage...

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