When applying for a mortgage, borrowers are often put through a grueling process to prove their creditworthiness. Depending on their financial situations and the type of mortgages they need, lenders impose certain restrictions and guidelines which the borrower must abide by. However, with the widespread impacts of COVID-19 and the downturn of the economy, lending restrictions have gotten even stricter.

With several changes introduced to the mortgage industry, navigating through your financial options will be a lot more challenging than before. To effectively obtain what you need, it’s best to work with a mortgage broker. However, if it’s your first time using a mortgage expert’s services, you may have a ton of questions about their products and services but often find answers difficult to come by. To clear your doubts and arm you with the most accurate information, experienced mortgage agent Melissa Henderson from The Mortgage Group brokerage has answered some of the most frequently asked questions about mortgage financing.

Thanks for stopping by my blog. If you’re looking for more information about Melissa Henderson - Mortgage Agent, you’ve come to the right place.

The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing.

The Canada Mortgage and Housing Corporation (CMHC) is making changes to its insured mortgages. These tighter underwriting standards may make it more difficult for some to qualify for mortgages with less than a 20% down payment.

You may have read conflicting real estate forecasts recently regarding the housing market. The Canada Mortgage and Housing Corporation (CMHC) reported that house prices are poised for a dramatic drop, that mortgage deferrals could continue to rise, as might arrears.

I’m Melissa Henderson, a Waterloo mortgage agent with access to over fifty lenders.

I look forward to sharing my story. I hope that you will enjoy getting to know me better.

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