Here are answers to some frequently asked questions on the government changes to down payment requirements that take effect today, February 15, 2016. The down payment requirement has increased from five per cent, to ten per cent for the portion of the purchase price above $500,000, but less than $1,000,000. The application of the government down […]

Here are the steps you need to follow to ensure you get a mortgage that’s right for you! Step One: Pre-Qualify & Strategize! Step one is to get pre-qualified, which should not be confused with the term pre-approved. The big difference is that no approval is ever given by a lender until they have an […]

New credit reporting and what it says about you and your spending habits may make all the difference between you buying a home now or later. When home buyers contact me to apply for a mortgage, I always review their credit report with them along with the rest of their application, before they start looking […]

  Any time you apply for credit in the form of a credit card, personal loan, auto loan, or cell phone, the company lending you money will want to access your credit report first. Your credit report is a snapshot of how you have repaid your financial obligations in your past. Lenders will use this […]

When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different payment options will affect your repayment schedule. So what are your options? In general, most lenders will offer the borrower the option […]

Interest rates are only one of many features that should be looked at when you are applying for a mortgage. But all things being equal, the interest rate may be more important than you think. I was reviewing mortgage options with a client and the only thing they were interested in was the mortgage rate. […]

We all know the real estate industry is hot right now and for many getting into the housing market, it can be a pipe dream. With tightening government and lending regulations, historically low interest rates and soaring housing prices, it can be a daunting endeavour for anyone. Whether you are a first time home buyer, […]

We have finally seen a bump up in interest rates. The 5 year government bond rate hit a low of about .60 in mid-September and is now pushing towards 1%. The lenders have reacted to this and we have seen the low rates of 2.59% on the 5 year fixed rate disappear. Some banks have […]

The Bank of Canada kept the key overnight interest rate unchanged at 0.5 percent as expected, as the Federal Reserve is poised to hike rates for the first time in nearly 10 years. The Bank’s decision did not, however, reflect complacency with the state of the Canadian economy, but rather a hand-off to the much […]

THIS ONE TIME ADVANCE WILL ALLOW YOU TO MAKE THE CHANGES YOU NEED TO MAKE YOUR HOME PERFECT! Have you been trying to find that almost perfect home? All homes have their flaws and imperfections. Some consumers can deal with these deficiencies in a home, but for others this can be a deal breaker. Maybe […]