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How Does the Financial Stress Test Work in Canada?

Since January of 2018, Canadians applying for a mortgage with a federally regulated lender have had to first pass a financial stress test before they could be approved. This has left some prospective homeowners feeling that buying their dream home may now be out of reach. It has left others feeling confused about what exactly […]

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Do Consolidation Loans Hurt Your Credit Score?

Matrix Mortgage Global – Do Consolidation Loans Hurt Your Credit Score? Many people considering debt consolidation loans worry that it might hurt their credit score. But will it really? That depends on a number of factors, including your current credit score. This is easy enough to find, online for free. Monitoring your credit on a […]

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Do you know Many Canadian Renters Could Qualify for a Mortgage?

Matrix Mortgage Global – Many Canadian Renters Could Qualify for a Mortgage   While renting can be a good short-term solution, many renters dream of the day when they will one day be able to afford a home of their own. By consulting with a qualified mortgage broker, however, that day may come sooner than […]

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Millennials Finding it Harder to get a Mortgage!

Matrix Mortgage Global – Millennials Finding it Harder to get a Mortgage In recent months, Canada has seen a sharp decline in the number of millennials applying for mortgages. While this is no doubt at least in part due to new mortgage rules that were introduced earlier this year, it could also be a sign […]

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How a mortgage broker can help you with a consumer proposal payout!

 How a mortgage broker can help you with a consumer proposal payout.     Most people considering or going through consumer proposal payout might not think about making a call to their mortgage broker, but they should. Some mortgage brokers, including Matrix Mortgage Global, are able to offer innovative solutions to help people pay out […]

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How the Mortgage Stress Test is Affecting the Housing Market

Matrix Mortgage Global – How the Mortgage Stress Test is Affecting the Housing Market   We are just now starting to see the effects of Canada’s new mortgage stress test on the Canadian housing market. Since the new regulations were introduced in January, Canada’s hottest housing markets – Toronto and Vancouver – have been seeing […]

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New Mortgage Renewal Rules Could Mean Big Savings for Homeowners

Matrix Mortgage Global – New Mortgage Renewal Rules Could Mean Big Savings for Homeowners   If you are among the nearly half of Canadian homeowners whose mortgage is up for renewal in 2018, we’ve got some good news for you. Some recent changes to Canada’s mortgage renewal rules could save you some big money. In […]

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A Fresh Start After Bankruptcy: Deal Of The Week

Property: Ajax, ON Rowhouse Valued at $425,000 Current 1st Mortgage: $275,000 Purpose: Clients want to refinance their mortgage to pay out Bankruptcy. They also plan to sell their house next year and need cash for renovations. Matrix Mortgage Funded: New 1st Mortgage: $340,000 Paid out bankruptcy $40,000 Secured Line of Credit Card to rebuild credit: […]

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Deal Of The Week: Consumer Proposal Wipe Out

Consumer Proposal: WIPED OUT Property: Owner-Occupied Detached Home Mississauga, Ontario The Deal: Refinance Property to pay out existing 1st mortgage & wipe out consumer proposal so they can save money and rebuild credit. Both clients full-time employed, 533 & 569 Beacon scores Matrix Mortgage Global Funded: New 1st mortgage: $483,000 @ 70% LTV 1-year term […]

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Deal Of The Week: A Tricky Split

  A Tricky Split The Story: Husband & Wife recently divorced. They have combined unsecured debts over $100k with R4 status. Husband had credit score of 510 and is a seasonal worker. Wife is Self Employed with 490 credit score. Clients have 2 properties: Property #1: Triplex – Oshawa, ON $265,495.00 – RENTAL 1st Mortgage […]

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