FAQ

this is the most common question I get asked. Did you know that statistically going Variable has outperformed going Fixed most of the time over the last 70 years. There is also a case to be made for going Fixed. Much of our recommendation comes down to your risk tolerance, financial knowledge and general finances. Bottom line, when the times right we can help you decide.

Best rates depend on lenders and timing. The best rate today could be with lender A, and one month later, someone else has a better deal. When you work with us, we’re not married to any one lender. We work to find you the best deal right up until you close.

Credit enquiries only account for 15% of your overall score. Your also allocated a certain amount over a certain time frame. If you have multiple credit checks in a very short period of time, you will see your score drop. What drives your score up or down are payment history and credit utilization. Things like do you pay your bills on time, how much debt do you have, and do you carry a balance right up to the limit or pay it back in full each month? Be mindful of what might negatively affect your score.

There are many factors that can affect your affordability. Questions like what is your annual gross income, or do you have any personal debts? How much do you have for a down payment? Generally speaking, you can qualify for approximately 3.5 to 4.5 times your annual gross income, less any debts you may have.

As you mortgage planner, we get paid from our lenders so you don’t pay us anything. However, there are situations where for certain types of financing, we will charge a reasonable fee for our work spent on your file. We generally don’t like charging fees and will avoid it at all costs. Always remember, we’re here to help you first!