The right option for you if you’ve saved a 20% down payment or more for your home. Well done! With this option, you won’t need to get mortgage insurance, unless you want the peace of mind that comes with loan protection.
These recommendations are for illustrative purposes only and are not intended to provide specific financial advice. Please speak with a Northern Mortgage Expert or your financial advisor to discuss your specific situation before you make a final decision regarding your mortgage to ensure all your financial and other circumstances have been taken into account.
Mortgage pre-qualification is not the same as mortgage pre-approval. Pre-qualification gives you a rough estimate of the amount of mortgage that you may qualify for based on the accuracy and completeness of the information you provided. It’s meant for illustrative purposes only and is not intended to provide specific financial or other advice. Pre-approval, on the other hand, is the official maximum mortgage amount that we are willing to lend you, subject to conditions.
We tackle the BIG question that all potential homeowners face—how much should you set aside for a down payment on your dream home?
Leverage your property value to unlock even more borrowing power with a Home Equity Line of Credit (HELOC).
Whether you’re buying a home, planning for your children’s education, or looking forward to retirement, these handy tools take the ‘work’ out of homework and provide a clear picture of where you stand.
There’s a difference between what you qualify for and what you can afford when it comes to your mortgage. Let us show you the formula to financial comfort.