http://suttonmember.com/blog Welcome to SMP Online, your best source for mortgage related news in Canada. Fri, 03 Sep 2010 22:10:17 +0000 http://backend.userland.com/rss092 en Theresa's Soap Box - Establishing a Good Credit History Why is it important to establish a good credit history? - Obvious answer is to get mortgages, car loans, or any types of loans - Some people may not know that if you don’t have good credit, it can deter you from getting things like: Cell ... http://suttonmember.com/blog/establishing-a-good-credit-history/ Theresa's Soap Box - Mortgages & Student Loans Let's take a few minutes to talk about refinancing... The obvious reasons to refinance are to get a lower interest rate or consolidate your debt.  However, we want to spend a few minutes today to talk about refinancing your mortgage to help pay for ... http://suttonmember.com/blog/mortgages-and-student-loans/ Theresa's Soap Box - Check Your Credit Without Affecting Your Credit Score There are 2 major credit reporting agencies in Canada: Equifax and Transunion. Usually you would have to pay to check your credit score, and when you check it through a bank/mortgage broker or apply for a credit card, ... http://suttonmember.com/blog/check-your-credit-without-affecting-your-credit-score/ Theresa's Soap Box - 4 Different Types of Insurance for Your Home Home insurance CMHC Title insurance Mortgage life insurance/creditor insurance Home Insurance If you have a mortgage, the lender/bank would usually require you to buy home insurance Because the mortgage is secured to the home and if something happens to your home (eg. fire), ... http://suttonmember.com/blog/4-different-types-of-insurance-for-your-home/ Theresa's Soap Box - 3 Things that Affect Your Credit Score 1)      Approaching or surpassing your credit limit on credit cards For example you have a $5,000 limit on your credit, don’t go over 75% of that limit. Keep it under $4,000.  If you approach your limit, the bank will think that ... http://suttonmember.com/blog/3-things-that-affect-your-credit-score/ Before buying a home, many of us would like to know how much we can afford or borrow. So what we do is go off to a bank/mortgage broker/lender to get more mortgage information. Now armed with a whole bunch of info and the amount of money the lender will ... http://suttonmember.com/blog/pre-qualification-vs-pre-approval/ Key lending rates have changed – the first increase since July 2007. Stats Canada has released their first quarter report and the economy is hot as its findings say.  Real GDP has grown 6.1%, the biggest increase in a decade. Residential investment continued to increase for the fourth quarter in a ... http://suttonmember.com/blog/will-economists-and-market-prices-predict-bank-of-canada%e2%80%99s-next-move/ It’s not a surprise to anyone that mortgage rates are a reflection of bank of Canada’s rates; but one universal principle dictates if those rates increase or decrease.  Let’s take a refresher course in Economics 101; rates fluctuate based on the basic theory of supply and demand.  As home sales ... http://suttonmember.com/blog/mortgage-rollercoaster/ Refinancing is replacing an existing debt obligation such as a mortgage, with a debt obligation bearing different terms. Some people also refer to refinancing as switching or transferring. It all pretty much just means that you are swapping out an old mortgage for a more favourable mortgage. So why should you ... http://suttonmember.com/blog/refinancing-what-does-it-all-mean/ No Frills What Does it Mean? Is it Right for You? So you’ve noticed the amazingly low mortgage rate on the front page and you’re wondering to yourself, “what’s the catch”? Then you see the caption 30-Day No Frills. “Ahhh that’s where they get you…but what does it mean?” We’ll we're happy to ... http://suttonmember.com/blog/no-frills-what-does-it-mean/