Durham Region Mortgage Blog

real mortgage solutions, not just rates.

Category: Mortgage Tips & Advice (32 posts)

Advantages of Using a Mortgage Broker

Advantages of Using a Mortgage Broker

May 3, 2021 | Posted by: Sherry Corbitt

When getting a mortgage, many wonder if they should use a broker. They may question if they can go through the mortgage process as easily without one. Having a broker though to assist with your mortga ... [read more]

6 reasons why taking a 2nd mortgage could makes sense

6 reasons why taking a 2nd mortgage could makes sense

December 8, 2020 | Posted by: Sherry Corbitt

There are many reasons to consider a 2nd mortgage. For most people it is a matter of debt consolidation and better cash flow for their monthly budgets. A 2nd mortgage goes behind your current 1st mort ... [read more]

Why a Cash Back mortgage may be the best option for you! Part 3 of 3 Use Cashback To Get Your Down Payment Saved.

Why a Cash Back mortgage may be the best option for you! Part 3 of 3 Use Cashback To Get Your Down Payment Saved.

March 13, 2020 | Posted by: Sherry Corbitt

We have already explored how the Cash Back mortgage can help with improvements, pay off debt and/or give you a boost to the amount you can be approved for. Yet maybe the biggest perk of the cash back ... [read more]

Why a Cash Back mortgage may be the best option for you! Part 2 of 3: Increase Your Mortgage Approval…by A LOT with cash back mortgages!

Why a Cash Back mortgage may be the best option for you! Part 2 of 3: Increase Your Mortgage Approval…by A LOT with cash back mortgages!

March 10, 2020 | Posted by: Sherry Corbitt

We have previoustly discussed how taking the cash back option could give you more funds to make improvements, boost your savings and help with your consumer debts.  Yet what if the cash back help ... [read more]

Why a Cash Back mortgage may be the best option for you! Part 1 of 3:  Use Cash Back to Better your Budget and Make Improvements

Why a Cash Back mortgage may be the best option for you! Part 1 of 3: Use Cash Back to Better your Budget and Make Improvements

March 5, 2020 | Posted by: Sherry Corbitt

Cash back mortgages allow you to increase your purchase price, lower your monthly debts or give you the funds you need to make improvements after you move in…all while saving you money! How is ... [read more]

Property Taxes - Should you pay for it or your lender?

Property Taxes - Should you pay for it or your lender?

February 21, 2020 | Posted by: Sherry Corbitt

Property tax – everyone must pay them (unless you rent, etc) but who should pay them? You or your lender? Property taxes are typically paid to your municipality on a quarterly, semi-annual, or ... [read more]

Why Do Mortgage Lenders Need To See Separation Agreements?

Why Do Mortgage Lenders Need To See Separation Agreements?

November 19, 2019 | Posted by: Sherry Corbitt

Divorce can take years. It isn’t something that can be done overnight, and it shouldn’t be either. There are a lot of things that need to be taken into consideration when separating, thing ... [read more]

5 Tips to help stop stressing about money

5 Tips to help stop stressing about money

November 13, 2019 | Posted by: Sherry Corbitt

Money equals anxiety for a lot of people but it doesn’t always need to be that way. Here are some tips to help you master your finances. Tip 1: Get a budget in place! If you are like most peop ... [read more]

10 Top Mortgage Myths Debunked

10 Top Mortgage Myths Debunked

October 21, 2019 | Posted by: Sherry Corbitt

While it is important to have an understanding of the mortgage process, it’s also important to be aware of myths that are floating around.  There are dozens of mortgage myths that exist and ... [read more]

The Broker's Guide to Divorce - I'm in CMP Magazine!

The Broker's Guide to Divorce - I'm in CMP Magazine!

October 9, 2019 | Posted by: Sherry Corbitt

I am the featured Broker in this month's copy of CMP Magazine! It is an industry magazine that focuses on education, government regulations and inspiration. So honoured to be choose to have an article ... [read more]

What You Need to Know About If You Co-Sign

What You Need to Know About If You Co-Sign

September 11, 2019 | Posted by: Sherry Corbitt

There are times, when a borrower either doesn’t have sufficient credit history or cannot afford to get a mortgage because of their debt-to-income ratio. Sometimes, it’s not because of defa ... [read more]

Mortgage Renewals - Don't go into it with your eyes closed

Mortgage Renewals - Don't go into it with your eyes closed

September 1, 2019 | Posted by: Sherry Corbitt

For many Canadians their mortgage is their largest expense, so when it comes time to renew at the end of the term, there are many things you need to consider. Things that you may not even know about t ... [read more]

When Closing a Mortgage, Don’t:

When Closing a Mortgage, Don’t:

August 27, 2019 | Posted by: Sherry Corbitt

So, we have found a great lender for you that meets your current mortgage goals and lifestyle, the lender is satisfied with all the supporting documents and we are broker complete. The only thing ... [read more]

RRSP/RESP/Mutual Funds vs. Real Estate

RRSP/RESP/Mutual Funds vs. Real Estate

August 20, 2019 | Posted by: Sherry Corbitt

I understand that investing in RRSP/Mutual Funds, TFSA, etc, makes sense for some people. However, you are missing out on a huge opportunity since you aren’t leveraging someone else’s ... [read more]

Month-by-month guide on home maintenance calendar

Month-by-month guide on home maintenance calendar

August 6, 2019 | Posted by: Sherry Corbitt

Down below includes a month-by month guide on house maintenace tasks you may want to consider for your house. January and February □       Clean or replace your furna ... [read more]

Mortgage Interest Rates vs. APRs: What's the Difference?

Mortgage Interest Rates vs. APRs: What's the Difference?

July 19, 2019 | Posted by: Sherry Corbitt

Mortgage commitments can be complicated with all the terms and conditions, like any other legal document, but when you see a different rate for an interest rate vs annual percentage rate (APR), it can ... [read more]

Do You Know These Common Mortgage Terms?

Do You Know These Common Mortgage Terms?

June 14, 2019 | Posted by: Sherry Corbitt

When you apply for a mortgage or a mortgage pre-approval there are a number of terms that you will hear. The following is an explanation of some common mortgage terms: Fixed Rate A fixed interest ra ... [read more]

Car Payment vs Mortgage Payment

Car Payment vs Mortgage Payment

May 14, 2019 | Posted by: Sherry Corbitt

Before you drive, think about your future buy! A common roadblock we hit with our clients is that their car payment is hindering their purchasing power when they want to buy a home. We have seen car ... [read more]

Questions about Title Insurance

Questions about Title Insurance

April 16, 2019 | Posted by: Sherry Corbitt

Title insurance is something you will most likely read in your mortgage commitment as a requirement and have to purchase at the lawyer’s office. The average cost of title insurance in Ontario is ... [read more]

4 Strategies That Can Help You Get PreApproved

4 Strategies That Can Help You Get PreApproved

January 4, 2019 | Posted by: Sherry Corbitt

So, you've decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage can be a bit of a nerve-wracking process, es ... [read more]

When Can a Second Mortgage be a Smart Move

When Can a Second Mortgage be a Smart Move

April 19, 2018 | Posted by: Sherry Corbitt

Every month, you put money against your mortgage. Over the years, thanks to all those payments (and a healthy increase in home values), you’ve built up some equity. Way to go! Sometimes, we want ... [read more]

Commonly Asked For Documents For Income Verification

Commonly Asked For Documents For Income Verification

March 26, 2018 | Posted by: Sherry Corbitt

Do you want a blood sample with that? It isn’t as bad as you think! Here is a list of commonly asked for documents for income verification of your income. Gone are the days where a lender would ... [read more]

30 Can't-Miss Home Staging Tips

30 Can't-Miss Home Staging Tips

June 23, 2017 | Posted by: Sherry Corbitt

Designed to Sell designer Lisa LaPorta shares some of her best home staging tips Grimy bathroom walls are a major red flag to buyers Here is an easy way to get rid of surface mold: Mix a spray bottl ... [read more]

Gathering the Money for a Down Payment in Two Years or Less in Whitby and Durham, ON

Gathering the Money for a Down Payment in Two Years or Less in Whitby and Durham, ON

June 7, 2017 | Posted by: Sherry Corbitt

Whether you are looking to purchase a Whitby or Durham home in the next two years or you intend to wait another five, you must find a way to save up enough money to use for a down payment. Without the ... [read more]

Home Buying 101 - Why the Relationship with Your Whitby and Durham, ON Broker Should Be a Positive Partnership

Home Buying 101 - Why the Relationship with Your Whitby and Durham, ON Broker Should Be a Positive Partnership

May 3, 2017 | Posted by: Sherry Corbitt

Whether you are looking for your first Whitby and Durham, ON home or moving up to the home of your dreams, having an experienced real estate broker or agent in your corner is a must. Real estate is a ... [read more]

Getting Your Whole Family on Board When Selling Your Whitby and Durham, Ontario Home

Getting Your Whole Family on Board When Selling Your Whitby and Durham, Ontario Home

April 20, 2017 | Posted by: Sherry Corbitt

If you are selling your Whitby and Durham, Ontario home, this can be a challenge when you are in charge of getting your family on board as well. Selling a home with kids has its own challenges, b ... [read more]

Buying a Durham or Whitby, Ontario Home, Step One: Mortgage Pre-Approval

Buying a Durham or Whitby, Ontario Home, Step One: Mortgage Pre-Approval

April 7, 2017 | Posted by: Sherry Corbitt

Whether you're looking to buy your first home, or haven't purchased a home in the past several years, you may be surprised to discover that searching your local real estate listings is not always the ... [read more]

Why Remortgage Your Whitby Home? 4 Excellent Reasons to Consider Refinancing Your Home

Why Remortgage Your Whitby Home? 4 Excellent Reasons to Consider Refinancing Your Home

March 7, 2017 | Posted by: Sherry Corbitt

Your Whitby, Ontario home is probably the most significant purchase you'll ever make, yet it's surprising how many people simply continue paying their mortgage every month without thinking too much ... [read more]

How bankruptcy can affect a new mortgage

How bankruptcy can affect a new mortgage

October 13, 2016 | Posted by: Sherry Corbitt

Paul Attfield The Globe and Mail While going bankrupt is likely not on anyone’s wish list of life experiences, when it does happen it needs to be dealt with to minimize its knock-on effect ... [read more]

Do you know when to Consolidate?

Do you know when to Consolidate?

September 24, 2015 | Posted by: Sherry Corbitt

A common question I get is that it is time for our renewal, should I consolidate? Here is a sample to help decided if it will increase your household cash flow and help your family:   CURRENT: ... [read more]

5 easy ways to be mortgage free sooner!

5 easy ways to be mortgage free sooner!

February 23, 2015 | Posted by: Sherry Corbitt

We all know that paying off a mortgage as early as possible makes good financial sense. You’ll save significant interest costs and free up money for RRSPs and other investments, and changing l ... [read more]

2 Out of 3 Do Not shop at Renewal

2 Out of 3 Do Not shop at Renewal

September 30, 2014 | Posted by: Sherry Corbitt

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might e ... [read more]

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Sherry Corbitt
Sherry Corbitt
Whitby, Mortgage Broker
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