CTV News - Mortgage Minute September 24
Ottawa Mortgage Broker Frank Napolitano stops by CTV to discuss some of the recent changes to the mortgage application process.
Click here for the full video from CTV.
On this week's Mortgage Minute, Frank Napolitano joins Jeff Hopper to discuss current mortgage news, mortgage rates, and what new home buyers should be ready for when starting the application process.
For those who are just entering the real estate market, regulations are tighter than they have been in the past, which sometimes makes for a challenging situation. With more regulation changes being suggested, such as a borrower's unused credit limit being counted as debt, Frank recommends buyers create a detailed budget before diving in. All borrowers, especially those who are self-employed, should use their net income when budgeting for mortgage payments, and leaving a cushion for any unforeseen circumstances.
For more information, talk to an Ottawa Mortgage Broker.