by Jodi | Jul 15, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
The Bank of Canada uses a stress test to limit mortgages to those they think will be able to afford the home if interest rates went up or their incomes dropped. The five year benchmark rate used in the mortgage stress test is calculated by the Bank of Canada. It is...
by Jodi | Jul 1, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
A client recently approached the team at Red Deer Whalen Mortgages seeking help. “They were our last chance at buying the home we loved”. The big banks had already told her no, she didn’t qualify for that home she had her eye on. She came to us in the hope that we...
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