Richards Mortgage Group Articles

While we often get asked what's the best mortgage interest rate in Canada, it's important to understand that quoting mortgage rates are dependent on a number of variables, and more information is always required to answer your question. In other words, there are many rates, and just a few will apply to your specific situation. This article is to help demystify the concept of what the ‘lowest Canadian mortgage rate’ actually means so that you can discern what you might be seeing quoted online or elsewhere, and whether or not that actually might apply to you! We also point out the games that people in the rate-game play.

I frequently receive calls from individuals seeking advice on how to prepare to qualify for a mortgage once they arrive in Canada. Recently, I provided some guidance to a couple via email, and I thought it would be valuable to share it as a blog post. So, without further ado, here are a few pointers for you.

Getting approved for a mortgage can be very stressful on first time home buyers... this article explains what is really happening!

"Interest rates are prices, and sometimes you get what you pay for." One of the questions that I get asked all the time, which stumps me a little bit more than you might think it should, is "what is your best mortgage rate?". Typically when people ask this question they mean what is the lowest rate that I have access to, and while it should be easy enough to answer, the truth is that this question represents a common yet fundamental misunderstanding about mortgages and interest rates.

Before you can buy a house, you need to make sure you can afford it and that there will be financing options available to you. This is where a pre-approval comes in. As mortgage lending criteria has become more strict over the years, the pre-approval and the increased certainty and confidence that goes with it has become an essential first step for the would-be-home-buyer.

Real estate transactions are complex; there's no doubt about it. With the number of moving parts and the drawn out timeline, buying a house is one of the more complicated transactions the average person will undertake in a lifetime. Luckily, you don't have to go it alone. Throughout the home buying process, a team of real estate professionals will support and guide you along the way. Like Frodo on his quest to deliver Sauron's ring to the fires of Mount Doom, a dependable team of trusty sidekicks will get you where you need to be.