As you may have heard me harping before. The new mortgage rules are hurting Canadians purchasing power and not-to-mention their home ownership dreams. Credit managements is paramount when do in a mortgage application. Lender like to see small amounts owed, good credit tenure as well as excellent credit managements. Today’s blog talks about what the […]

With Canadian’s household debt at an all time high, and mortgage financing rules the most difficult since I have been in the industry it is really important that now, more than ever, that Canadians take a hard look at their finances and house hold budgets. There are still many tools at your mortgage broker’s disposal […]

REFINANCING IN 2018 Recently there were changes to the mortgage rules yet again, and one of the rule changes was regarding refinancing your home. At one point in the last 10 years you could refinance your home all the way back up to 95% of its current value, which in many cases has put that […]

WHAT ARE ACCELERATED PAYMENTS? An accelerated payment is a mortgage payment that is increased slightly so that you can pay off your mortgage faster. There are two common types of accelerated payments: bi-weekly and weekly. Of the two, bi-weekly is the much more common choice because it matches with pay dates more often. An accelerated […]

MAKING SMARTER DOWN PAYMENTS Mortgage Insurance Premiums. Many people know what they are- an extra cost to you the borrower. But not many people realize how they are calculated. Understanding the premium charges and how they are calculated will help lead you to making smarter down payments. 5%- 9.99% down payment of a purchase price […]

4 SIGNS YOU’RE READY FOR HOMEOWNERSHIP While most people know the main things they need to buy a home, such as stable employment and enough money for a down payment, there are a few other factors that may help you realize you’re ready, perhaps even earlier than you thought! As a mortgage broker, it is […]

As a preamble to todays blog, I wanted to add the importance of making sure that YOU are WELL INSURED. We always hear, I have insurance through work, or my brother-in-law will get me insurance. Life can give you lemons at any time. I mean, you insure your house, car, and your electronics purchase, why […]

HOW TO NAVIGATE THE MORTGAGE RATE WARS You may have heard that rates are changing, and that is true. They don’t call it war for nothing and you need an expert by your side! Think of mortgage brokers as your loyal soldiers. What we are seeing is exactly what we anticipated when prime rate goes […]

WHAT IS A COLLATERAL MORTGAGE? A collateral mortgage is a way of registering your mortgage on title. This type of registration is sometimes used by banks and credit unions. Monoline lenders, on the other hand, rarely register your mortgage as a collateral charge – which is an all-indebtedness charge that allows you to access the […]

Getting your mortgage approval is a JOYOUS time! However, you are not out of the woods. From the time you get your final approval until possession date, you are on notice. You must keep everything the same. Read today’s blog for more info! 5 WAYS YOU CAN KILL YOUR MORTGAGE APPROVAL So, you found your […]