A History Of Mortgage Rule Changes In Canada In 2008, the Federal Government started making some changes to how mortgage applications are approved in Canada. I think it important to recap some of these changes. Prior to the first rule change: – No down payment required – finance 100% – Maximum amortization was 40 years. […]

Today’s blog is so good.  It is so easy for a first time home buyer to get all caught up in the moment.  However, at calm and steadfast approach to home buying is required.   Love the house? GREAT!  Look at the roof, mechanicals, appliances and structure.  Even if some of these items require attention, get […]

Adjusting your payment frequency and payment amount is an excellent waty to pay your mortgage down faster and help decrease that pesky compounded interest!   Enjoy the blog…. PAYMENT FREQUENCY One of the decisions you will need to make before your new mortgage is set up, is what kind of payment frequency you would like […]

It is rare for the Bank of Canada and the US Federal Reserve to announce rate decisions on the same day, but today’s announcements highlight the stark differences in policy in the two countries. The Bank this morning announced they would maintain their target for the overnight rate at 1.75% for the eighth straight meeting. […]

Get Your Free Credit Report From Borrowell Today’s blog is all about your credit. Your credit score can be very confusing. There are different credit reporting agencies, banks and credit unions can report to either or both, and your score never seems to be consistant. Free credit scores, such as the link above are a […]

Appraisals are extremely important and are heavily relied upon by lenders. Getting the optimal value on your appraisal depends upon many things. Today’s blog offers some helpful tips to potentially increase the appraised value. Enjoy today’s BLOG! NEED AN APPRAISAL – 7½ TIPS FOR SUCCESS Do you need to get a current value of your […]

Well I think it’s fair to say that most Manitobans are done with elections. We would like to thank all of the candidates who ran provincially and federally this year and congratulate all those elected. As an industry, Mortgage Professionals are always advocating for better mortgage lending policy and regulations. Our very own Angela Calla […]

I’m always going on about 2nd opinions. Renewals are the most important time for a 2nd opinion. MORTGAGE RENEWALS WITH THE SAME LENDER ARE ON THE RISE, BUT SHOULD YOU JUST SIGN ON THE DOTTED LINE? If you’re in a mortgage that’s coming up for renewal in the coming months and you’re considering just staying […]

CLIENT SUCCESS STORY: CHIP REVERSE MORTGAGES A retired couple on fixed pensions found themselves struggling to make ends meet each month. Both were in good health and wanted to maintain an active lifestyle. They had spent their working years paying off their mortgage and had little saved in their RRSPs. Now both in their 70s, […]

More and more Canadians do not have a defined benefits pension plan. Companies are moving away from this model due to the expense of maintaining enough in the fund to pay out until the employee and survivors die. Those who are self employed also do not have pensions beside the Canadian Pension Plan. What can […]