Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to […]

17 OCT 2019 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 with your current lender, you wouldn’t be alone. According to the Canadian Mortgage and […]

DEBT: TO CONSOLIDATE OR NOT TO CONSOLIDATE? THAT IS THE QUESTION If you are a Canadian living in debt, you are not alone. According to Statistics Canada, household debt grew faster than income last year, with Canadians owing $1.79 for every dollar of household disposable income to debt(1). • Canadian households use almost 15% of […]

SUBJECT FREE OFFERS; STILL RISKY! The majority of my clients have stellar qualifications: established careers and businesses, excellent credit ratings, solid down payment funds, etc. They are truly awesome individuals who will almost certainly receive mortgage financing without a hitch. Almost certainly. With multiple offers, bidding wars, and over-asking-price bids now common as far afield […]

A TAILOR-MADE SOLUTION FOR SOME BORROWERS Recently, two of my lenders came out with new products – Interest only mortgages. We have had these available from private lenders for many years but at much higher interest rates. They are useful for real estate investors and people who have consolidated debts and need six months to […]

Overcoming the Challenge of Income Qualifying When it comes time to get your mortgage, or perhaps look at investing in an investment property, income qualifying is one of the first steps you will have to take. This first step though can also be the most challenging. Let’s walk through the steps you should take: 1. […]

20 Feb 2017 Reading This Could Save You Thousands of Dollars!! (AKA How to renew your mortgage in 5 easy steps) What is a mortgage renewal you ask? Each mortgage has a set term which can vary from 1-10 years. Just before the end of your term you will receive an offer from your current […]

10 First Time Homebuyer Mistakes If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying mistakes. 1. Thinking you don’t need a real estate agent You might be able to find a house on your own but there are still […]

A Conversation About Mortgage Pre-approvals Thinking of buying a property, but don’t know where to start? Well… that’s where a mortgage pre-approval comes in. Start here. Just like you wouldn’t go into a restaurant without having enough money to buy your meal, so you shouldn’t start shopping for a home without an understanding of how […]

18 Jan 2017 Is the BC HOME Partnership Program Right For You? The BC HOME Partnership Program was created for first time home buyers who have good credit and good income but do not meet the requirements for a minimum 5 percent down payment.  With at least 2.5% down payment the BC Home Partnership Program […]