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Tag Archives: qualify for mortgage

Is the stringent mortgage rule too harsh on the first time home buyers in Canada?

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The recent changes in the federal rule of tightening the mortgage lending, make it difficult for the first time buyers in Canada to qualify for a mortgage. However, the brokers opine that the policy-makers are required to address the needs of their industry. According to Will Dunning, the Canadian Association …

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The 5 C’s of Credit When Applying for a Loan

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A common evaluation framework is using characteristics of the borrower so they can gauge the chance of default. The Five C’s of Credit used are capacity, capital, collateral, conditions and character. Capacity (ability to pay) it refers to your ability to succeed in making the loan payments. The lenders want …

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