CONSTRUCTION MORTGAGES In case you didn’t know, construction mortgages are available through mortgage brokers! Even though the options for lenders are slim, it can still be accomplished. Unlike regular purchase mortgages where the funds are released on closing, the funds for construction mortgages are released in stages. With typically 15-month construction periods, here are the […]

DON’T FORGET THE CLOSING COSTS WHEN YOU PURCHASE A HOME The purchase price you negotiate when buying or selling a home is just one part of the total cost of buying a home. In addition to the purchase price, there are several other fees – known as closing costs – all of which you need […]

5 TIPS ON HOW TO GET OUT OF DEBT AND INTO YOUR OWN HOME To get out of debt, you need a plan and you need to execute that plan. That’s why I’ve created this simple, five-step, get-out-of-debt checklist that can help you leave that financial burden behind you. As you work on your plan, […]

IS YOUR LINE OF CREDIT KILLING YOUR MORTGAGE APPLICATION? Some of the last rounds of changes from the government regarding qualifying for a mortgage were that if you have a balance on your unsecured line of credit, then to qualify for a mortgage the lenders require that we use a 3% payment of the balance […]

THE 5 MORTGAGE ELEMENTS- DECISIONS YOU NEED TO MAKE BEFORE YOU SIGN! Before you buy a home there are a couple things you need to figure out first. One of the very first decisions you need to make is whether you want to work with a mortgage broker who is independent of the bank, or […]

WHAT IS A REFINANCE? Refinancing a home is one of those things where people understand what it is but have trouble explaining how it works. To put it simply, refinancing your home allows you to access the equity you have built up, by changing the mortgage amount. Let’s say you bought a $300,000 condo and […]

5 WAYS YOU CAN KILL YOUR MORTGAGE APPROVAL So, you found your dream home, negotiated a fair price which was accepted. You supplied all the needed documentation to your mortgage broker and you are waiting for the day that you go to the lawyer’s to sign the final paperwork and pick up the keys. All […]

A FEW REASONS WHY YOU SHOULD CONSIDER A VARIABLE RATE MORTGAGE Five-year fixed mortgage rates continued their upward march last week as the five-year Government of Canada (GoC) bond yield they are priced on hit its highest level in seven years. Meanwhile, five-year variable-rate discounts deepened, further widening the gap between five-year fixed and variable […]

BROKERS MORE IMPORTANT THAN EVER Nearly half of all existing mortgage in Canada will be up for renewal in 2018. Stated in a Financial Post article by Armina Ligaya, CIBC Capital Markets estimates 47% of all existing mortgages will need to be refinanced in 2018. All of this coming on the heels of rising interest rates […]

5 THINGS TO KNOW BEFORE BUYING A RURAL PROPERTY After several years as a homeowner, my friend was set to buy the home of his dreams. He always wanted to own an acreage outside of town. He had visions of having a few animals, a small tractor and lots of space. As a person with […]