There’s a lot to consider when applying for a new mortgage. Just because you can afford the price tag doesn’t mean you’re home safe.
It is to state the obvious to say that buying a home is among the most important financial moves you will ever make. Still, too many of us make these decisions (sometimes more than once in our lives) without the benefit of professional advice and careful research. “The excitement of buying a home is sometimes overwhelming,” said Kirk Bacon, chairman of the Mortgage Broker Regulators’ Council of Canada (MBRCC) in an interview with me this week. His organization has published a useful new pamphlet titled Know Your Mortgage Risks & Responsibilities. Read more