The Mortgage Advisors Brockville

06/01/2026

Happy to support United Way Leeds & Grenville in their River 50/50!

Get your tickets today! 💰

🏡 "The River 50/50 jackpot is building equity faster than the housing market!" 💰😂

12/26/2025

Fact Friday! Did you know...

Credit scores typically range between 300 and 900. The 5 key factors that determine your credit score are:

Payment History (35%) – Late payments (including frequency and length of time past due), defaults, etc.

Utilization (30%) – On revolving accounts (credit cards and lines of credit), the balance divided by the limit. High utilization will reduce your credit score.

Utilization of less than 40% helps build your credit without impacting your score.

Credit History (15%) – The number of accounts reporting and the length each has reported. We recommend a minimum of 2 accounts reporting for 24 months each to demonstrate a willingness to repay.

Inquiries (10%) – How often your credit is pulled by an institution. Having your credit pulled frequently in a short period of time makes you appear credit seeking. Those with higher credit scores are impacted less by inquiries than those with lower credit scores.

Public Records (10%) - Include bankruptcies, consumer proposals, collections, judgments, etc. Outstanding balances reduce your credit score while the recency and frequency can have an impact even if paid.

12/25/2025

May your home be filled with warmth and those you love as you celebrate all that the holiday season brings. Wishing you and yours a very Merry Christmas filled with joy, happiness, and hope for the year to come!

12/19/2025

Fact Friday! Did you know...

Though your credit score is based on 5 categories, utilization has the second largest impact making up 30% of your score. If you have perfect repayment history but find that your credit score is dragging, it may be due to high utilization. Carrying a balance greater than 40% of the limit on revolving accounts (credit cards and lines of credit) can impact your credit score over time.

Clients with high utilization often reduce their credit limits immediately after the debt has been paid down/off. However, this can negatively impact your credit score. Maintaining a credit limit above what you intend to spend will help keep utilization lower, thereby reducing the impact on your credit score.

12/12/2025

Fact Friday! Did you know...

12/05/2025

Fact Friday! Did you know...

Each lender has their own minimum requirement for square footage. Single family homes typically range from a minimum of 500 to 850 square feet while condos typically have a minimum of 300 to 600 square feet. Smaller square footage is more acceptable in urban areas. Marketability in the event of sale is the main concern for lenders.

Though larger properties have more lender options, since the estimate of heat included in debt servicing is based on square footage, a larger property could result in a lower maximum mortgage.

11/28/2025

Fact Friday! Did you know...

Being on maternity or paternity leave may not prevent you from qualifying for a mortgage. Though EI cannot be used to qualify, all or a portion of your employment income may be eligible depending on:

1) Income Structure – If you are not guaranteed hours or salaried, your lender options will be limited. A select few lenders will still use your income if not guaranteed, but it will be limited to a two-year average which is often less than a typical year due to working a partial year before taking leave.

2) Scheduled Return to Work Date – Though most lenders will use 100% of your employment income despite your scheduled return to work date, other lenders reduce the income used to qualify to 60% of your employment income if returning to work more than 12 months from the closing date.

Canada Child Benefit (CCB) can be used to qualify if the child is under the age of 15. For those with reduced qualifying income due to parental leave, this can be a great way to maximize your qualification.

11/21/2025

Fact Friday!

Have you ever wondered how a lender decides to approve or decline a mortgage application? The 5 C’s of Credit outline the key factors in determining eligibility. Strong “C’s” should outweigh the weak, reducing the lender’s risk.

Capacity – Can your income support the costs associated with home ownership (mortgage payment, property taxes, etc.) along with your other obligations (debt payments, support payments, etc.)?

Credit – Though your credit score will be reviewed, so will the details of your credit bureau. How long have you managed credit? Are payments made on time? Are you making the minimum payments or paying down debt? Do you have past collections?

Capital – Are you contributing the minimum down payment or more? Will you have savings to fall back on in case of emergency? Are the funds being gifted or borrowed? The more you have at stake, the more likely you are to repay.

Character – Encompasses your application as a whole, with the lender seeking stable and reliable applicants. But lenders don’t stop at just your application; they will Google you!

Collateral – Ultimately if you default, the lender’s recourse is taking possession of the property, so the state of the property and marketability is a key factor.

11/14/2025

Fact Friday! Did you know...

Most residential lenders will not allow farming or farm animals on the property, as this typically requires agricultural lending. If a lender suspects that there may be present or future farming activity, they will require that a statutory declaration be signed with your lawyer prior to closing attesting that this will not be the case.

Lenders are more likely to require this attestation if the MLS notes the presence or potential for farm animals, the property has acreage and/or a barn, Google maps shows farm animals, etc.

11/12/2025

After 3 months of working with another mortgage broker, Sophie and Zack approached our office for help in securing a mortgage on a unique property. In just 1 month, we secured an approval and closed their first mortgage! It was truly a pleasure being a part of your homeownership journey. Thank you for the opportunity!