Applying for your first mortgage? Learn about stress tests, pre-approvals, and paperwork with Mortgage Connection, your mortgage brokers in Calgary, Alberta. […]
How to Apply for a Mortgage
What Happens If Your Mortgage Renewal Is Denied?
Despite all your planning, your renewal might decline. Although figuring out the next steps can feel unsettling, it’s not the end of the road. Here’s what to do next:
Stay calm & reassess
Explore other lenders
Improve your financial profile
Seek an exception or negotiation
Consider alternative mortgage options
[…]
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Can You Lock in a Variable Rate Mortgage?
Key Takeaways Locking in a Variable Rate Mortgage Variable-rate mortgages can be appealing when interest rates are low because they can allow you to pay off your mortgage faster. You may choose a variable rate when renewing your mortgage or as a first-time buyer finding the right mortgage for you. Variable rates offer more flexibility […]
Open vs Closed Mortgage: What’s the Difference?
The choice between an open and closed mortgage comes down to a trade-off between payment flexibility and a lower interest rate. […]
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Insured vs Uninsured Mortgage: What’s the Difference?
The main difference between an insured and uninsured mortgage comes down to your down payment size and who pays for default insurance. […]
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Mortgage Renewal Advice: 9 Things to Know
The key to a successful renewal is to proactively shop around and negotiate for terms that work for you. […]
Your Mortgage Renewal Checklist
Not all mortgages are created equal. Many of the intricate details are hidden in the terms of your contract, which can make life for mortgage holders confusing and stressful. But it doesn’t have to be that way. At Mortgage Connection, our entire story is built on providing clarity. This guide provides a clear checklist to […]
What Is a TDS Ratio?
TDS ratio is the percentage of your gross monthly income that goes toward housing costs and other debts—like car loans, credit card payments, and personal loans. […]
Will My Mortgage Automatically Renew?
In some cases, your mortgage may be renewed automatically. But automatic renewals aren’t always in your best interest. […]
What Is a Mortgage Maturity Date?
Simply put, the mortgage maturity date is the day your existing agreement with your lender expires, and your remaining balance becomes due. […]
