How to Qualify for a Mortgage in Canada | The Mortgage Den Podcast
In this episode of The Mortgage Den by Northwood Mortgage, host Nick Da Silva is joined by seasoned mortgage broker Leo Saleh to break down the four pillars of mortgage qualification in Canada: employment, credit, liability, and down payment. Learn why a minimum credit score of 620 is required and how scores above 680 can unlock better terms. Leo shares key insights on employment verification, self-employed mortgage requirements, and why down payment documentation and gift letters matter. The episode also covers the impact of the mortgage stress test, how debt service ratios affect buying power, and why choosing the right mortgage product means looking beyond just the rate. Whether you're a first-time buyer or refinancing, this is your essential guide to mortgage readiness in today’s market.
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