What is a “Gifted” Down Payment?

A “Gifted” Down Payment is very common for first-time buyers. Essentially, a buyer’s family member will offer up money to go towards the down payment of their new home. A gifted down payment is often used when the new buyer does not have enough money to get to the 5%...

Mortgage Brokers Provide Healthy Competition

Here is a great article talking, indirectly, on how mortgage brokers are very good for the economy and the end-consumers. In Australia, banks own over 93% of the mortgage market. There is no mortgage-securitization (CMHC) over there, which makes it very difficult for...

What Is A Pre-Approval?

Statistics show that most first time buyers begin their search for their inaugural piece of real estate, 11 months prior to actually making a purchase. While scouring the internet for educational tidbits, most first-timers come out of the research process with one...