Michael Croitoru, Mortgage Agent - Mortgage Alliance

11/12/2025

09/17/2025

The Bank of Canada has lowered its key lending rate to 2.5%, marking the first rate cut since March.

Tiff Macklem noted the move aims to “better balance the risks going forward” as tariffs and trade uncertainty continue to weigh on key sectors like auto, steel, and agriculture.

For Canadians, this rate cut could mean new opportunities in the housing market and potential savings for borrowers.

07/04/2025

When it comes to mortgages, details like prepayment privileges, penalties, and portability can make a big difference in the long run.

Not only can a Mortgage Alliance professional help you source some of the best rates on the market, we can also look beyond the rate and help you understand all the factors involved in the mortgage space. This way, you can make a confident, informed decision.

05/27/2025

Create a budget and keep it on track. One simple practice and some discipline can help keep you in your home through unexpected circumstances like a recession or job loss.

05/07/2025

Wondering how much house you can really afford?

These 4 factors play a large role in determining your approval amount.

1️⃣ Income: The more you earn, the more you can borrow, depending on your debt load. Having a good job with additional income streams or legitimate side hustles, that can be proven with tax filings over a period of two years can help increase your approval amount.

2️⃣ Debt-to-Income Ratio: Too much monthly debt? It can limit your approval amount. Try to keep your credit card limits low and balances under 30% utilization. Keep only the necessary trade lines open.

3️⃣ Down Payment: A bigger down payment = smaller loan = more buying power. Many borrowers have help from parents. If you have access to assistance, use it.

4️⃣ Credit Score: Higher credit = better rates = lower payments.

Reach out to us for a fast, free affordability check-up — no guesswork, just clarity.

04/19/2025

Separation and divorce are hard enough without throwing mortgage stress into the mix. One of the most emotional questions we hear is, 'I want to keep the house, but I don’t make enough on my own to qualify—what can I do?'

02/24/2025

Your credit utilization ratio—the percentage of available credit you're using—directly impacts your credit score. A high ratio can signal financial strain and affect your mortgage approval chances.

Need tips to improve your credit profile for better mortgage terms? Your Mortgage Alliance Professional can help.

01/10/2025

When you buy a home, you may need some extra cash to help with expenses related to home upgrades, closing costs, or to help fend off credit card purchases.

A cash back mortgage can be a great solution. With this product, your lender advances you a lump sum of cash upon closing. The most common amount is 5% of your mortgage amount but it is possible to get anywhere between 1% to 7%.

Reach out to see if a cash back mortgage would work for your unique financial situation.

12/07/2024

I am always grateful for the informative reviews and positive feedback.

Thanks, Erin.