A down payment is one of the most essential aspects of every mortgage application and new home purchase. In Canada, home purchases require a minimum cash payment from your own funds that is put towards the purchase. This is your down payment and is considered your stake in the deal. Many home buyers understand that […]

HOW CAN WE GET THESE FINANCED? As with all mortgages there are general guidelines, no guarantees, and all applicants are considered on a case by case basis. There may be exceptions made by the lenders and insurers. Both the applicant and the property must meet their criteria. MOBILE HOMES ON THEIR OWN LAND The home […]

The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023. To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying $4 billion of […]

Throne Speech: Canada’s Response to COVID-19 Prorogation on August 18, following the resignation of Finance Minister Morneau, a new session of Parliament, and a new speech from the throne was meant to allow the government to hit the reset button. And for Prime Minister Justin Trudeau, to try and move past the summer of controversy […]

  The Insured Secondary Homes Program is a popular one this time of year.  You may be dreaming about owning a lake front cottage or condo in one of your favorite local holiday spots. Or perhaps you, like me, have children making plans to head off to University in the fall – and those tuition […]

Divorces can be difficult and expensive, however good mortgage advice early can save you considerable stress and money. The first thing I will tell my clients who are starting the separation process is to continue with keeping all joint loans and payments up to date. If it is a less than amicable situation, we will often find that disputes over […]

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 […]

THINGS YOU SHOULD NEVER TRUST: 1.Gas Station Sushi 2.Emails from Nigerian Princes 3.60 Second Online Mortgage Pre-Approvals   Not all mortgage pre-approvals are created equally. Many lenders offer quick and easy pre-qualification numbers for their clients and others will issue written pre-approval letters without any documentation requirements. As we all know, this can lead to […]

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 to have. For many, sticking to a monthly payment is the default, however, different frequencies may end up saving you less interest over time. Monthly Payments Monthly payments are exactly […]

Every so often I have a client who does not qualify for a standard mortgage and will look at a rent to own as a potential option. Though I only have limited involvement in these transactions until the very end, I do try to educate my clients on the process and potential risks involved so […]