• How important is my Credit Score?

    Soho MortgageOne of the most important factors in qualifying for a mortgage is your credit score. Canadian Lenders rely upon the individual's Beacon Score that is managed by one of the consumer credit reporting agencies (eg. Equifax, TransUnion). This score provides a Lender with an indication of a person's creditworthiness, and, is an excellent tool to determine the risk associated with lending money. There are several fundamental rules for improving your credit score. Please let us explain further, and, help you with improving and maintaining an excellent credit score.
  • What is a Variable Rate Mortgage (VRM)?

    Soho MortgageWith attention drawn to the Bank of Canada rate announcements, all eyes are on mortgage rates and where they are headed. A Variable Rate Mortgage (also known as an Adjustable Rate Mortgage, or, ARM) is a mortgage product priced relative to the bank's Prime Lending Rate. For example, VRM's can be quoted as Prime less .50%. If the Lender's Prime Lending Rate is 3% (where it was for many years), the VRM rate is 2.5% (3% - .5%). The more important question - is a VRM the right product for you? Please let us discuss this option as we consider your overall situation.
  • Be proactive with your debt

    Soho MortgageLet us look at your circumstances, and set out some options for you. A consolidation may or may not make sense, but taking action as opposed to doing nothing but make minimum payments can (and likely will) save you lots and lots of money.
    P.S. Don’t forget our $200 referral program!
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