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What is a Mortgage Principal? | BestMO Breakdown  

Know the key components of your Mortgage. BestMO's Mortgage Guide news explains what a mortgage principal is for Canadians. Best Mortgage Online explains that the principal amount is the amount you borrow from the lender, typically the purchase price minus your down payment and any mortgage loan insurance. The larger the principal, the higher your monthly payments will be. Understand mortgage fundamentals with BestMO guidance.  

https://bestmo.ca/what-is-a-mortgage/

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What is the TDS Ratio? | BestMO Complete Breakdown  

See your total debt picture. BestMO's Mortgage Guide news explains the TDS ratio calculation for Canadian homebuyers. Best Mortgage Online shows that TDS includes housing costs plus all monthly debt obligations divided by gross income. This captures car loans, credit cards, student loans, and personal loans. The recommended TDS is 40% or lower, with a maximum of 44% for insured mortgages. Understanding GDS and TDS helps you plan finances wisely. Master these ratios with BestMO.  

https://bestmo.ca/gds-and-tds/

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Credit Mix Impacts Your Score | BestMO Insights  

Diversify your credit types. BestMO's Mortgage Guide news reveals that credit mix accounts for 10% of your credit score. Best Mortgage Online explains that having installment loans, such as mortgages, alongside credit cards demonstrates that you can handle diverse credit types. Heavy reliance on credit cards alone can hurt your score. Achieve a healthy balance with BestMO knowledge.  

https://bestmo.ca/credit-score/

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Drawbacks of CMHC Insurance | BestMO Honest Review  

Understand the costs involved. BestMO's Mortgage Guide news covers the drawbacks of mortgage default insurance. Best Mortgage Online identifies added premium costs, loan restrictions on prepayment flexibility, mandatory stress testing at higher qualifying rates, and inflexible terms. Carefully weigh the pros and cons for your financial situation. Make informed decisions with BestMO.  

https://bestmo.ca/mortgage-default-insurance/

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Tips for Getting Pre-Approved | BestMO Expert Advice  

Maximize your pre-approval success. BestMO's Mortgage Guide news shares tips on mortgage pre-approval in Canada. Best Mortgage Online recommends interviewing multiple lenders to compare rates, being conservative with your budget, understanding the impact of appraisals, and avoiding major financial moves after pre-approval. Multiple applications within 45 days count as one credit check.  

https://bestmo.ca/mortgage-pre-approval/

#MortgagePreApprovalInCanada #BestMO #MortgageGuideNews #PreApprovalTips #BestMortgageOnline

Tips for Getting Pre-Approved | BestMO Expert Advice  

Maximize your pre-approval success. BestMO's Mortgage Guide news shares tips on mortgage pre-approval in Canada. Best Mortgage Online recommends interviewing multiple lenders to compare rates, being conservative with your budget, understanding the impact of appraisals, and avoiding major financial moves after pre-approval. Multiple applications within 45 days count as one credit check.  

https://bestmo.ca/mortgage-pre-approval/

#MortgagePreApprovalInCanada #BestMO #MortgageGuideNews #PreApprovalTips #BestMortgageOnline

Semi-Monthly Mortgage Payments Explained | BestMO Guide  

Want payments aligned with your pay period? BestMO's Mortgage Guide news explores mortgage payment options in Canada, including semi-monthly schedules. Best Mortgage Online explains that these payments are made twice monthly by dividing your monthly payment by two. You still make the equivalent of 12 monthly payments, but many borrowers prefer to align with bi-monthly pay periods.  

https://bestmo.ca/mortgage-payment-options/

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Understanding Mortgage Pre-Approval | BestMO Expert Analysis  

When comparing mortgage pre-approval vs pre-qualification in Canada, pre-approval stands out. BestMO's Mortgage Guide news explains that pre-approval is a full mortgage application that provides reliable maximum borrowing figures. Best Mortgage Online notes that lenders thoroughly assess complete documentation to determine your qualification. This confirmed amount gives you confidence when house hunting across Canada.  

https://bestmo.ca/pre-approval-vs-pre-qualification/

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Alternatives to Mortgage Cosigning  

Before pursuing cosigning a mortgage in Canada, consider alternatives. Best Mortgage Online's Mortgage Guide news suggests improving your credit score, saving larger down payments, or applying with alternative lenders. Exploring government down payment assistance programs or seeking a guarantor instead may help you qualify without full cosigner obligations and risks.  

https://bestmo.ca/cosigning-a-mortgage/

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TD Mortgage Break Penalties Explained | BestMO Analysis  

Breaking your TD mortgage incurs either 3 months' interest or IRD calculation, whichever is greater. BestMO's Lender Review news covers penalty structures in its detailed guide. Best Mortgage Online helps Canadians understand the actual cost of switching lenders mid-term. Variable-rate mortgages only charge interest for 3 months.  

https://bestmo.ca/td-mortgage/

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