Innovative Blog

Whether you are looking for the latest Bank of Canada rate announcement, up-to-date information on the mortgage industry or fun tips on how to add curb appeal to your home, our blog is the place for you. Be sure to check back weekly for the latest industry updates and most popular mortgage topics affecting Canadian home owners!

How Do Mortgage Brokers Work?

March 14, 2019

From what the process is, to the costs involved and how we choose the best lenders for our clients, we thought we would take some time to summarize some of the most common topics of interest for our potential clients.

How Tax Season Affects Self-Employed and Commission-Based Individuals

March 7, 2019

If you are self-employed or paid by way of commission and your income level increased over the past year, chances are you will want to use your most recent income information in order to qualify for a mortgage.

Bank of Canada Rate Announcement - March 6, 2019

March 6, 2019

“Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report.” As a result, Canada will see a weaker first half than was projected by the bank in January.

FAQ: What Documentation will your Lender Need?

February 28, 2019

The documentation process can feel overwhelming at times. One of the benefits of becoming an Innovative client is that we have a whole team of administrative staff standing behind your Broker to assist you.

What Lenders Look for in a Mortgage Application

February 21, 2019

When you apply for a mortgage through a bank or a traditional lender, there are certain details of your overall financial picture that these lenders will pay specific attention to.

What You Should Know About Mortgage Insurance

February 14, 2019

There is a common misconception that the insurance offered by your lender is actually required to obtain a mortgage through them. However, this is not the case; you are under no obligation to accept this insurance.

Improving Your Credit Score

February 7, 2019

While there are ways to increase your score, don’t be fooled by companies that claim they can fix your credit immediately. Rebuilding your credit is a process that will take some time. Understanding the key elements that Canada’s two reporting agencies (Equifax and TransUnion) use to determine your score is the absolute best way to start moving in the right direction.

Credit Score Myths

January 31, 2019

Because your credit is central to qualifying for any type of loan - whether it be a mortgage, credit card, auto loan or line of credit - there is a lot of information (and misinformation) out there about staying on top of your score.

When Alternative Lending Makes Sense

January 24, 2019

Alternative lenders are lending institutions that have less rigorous mortgage qualifying standards than traditional lenders, and are typically used when you are unable to obtain a mortgage approval from the latter.

Understanding the Bank of Canada

January 17, 2019

There seems to be a lot of confusion about what the BoC actually does and what role they play within the Canadian economy, so we thought we would take the time to answer some frequently asked questions about Canada’s central bank.