Rate Holds Explained

16th July 2018

Have you ever heard of the term rate hold? If you have ever worked with a mortgage broker, chances are, you have! Rate holds are something that the majority of lenders offer to potential clients purchasing a new home who need a mortgage. Rate holds are generally not given out for people refinancing their mortgage […]

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10 SECRET “To-Do’s” After you file Consumer Proposal or Bankruptcy

13th July 2018

Many people go through challenges in life that affect their finances. Divorce, job loss, health issues top the most common reasons. I commend you on getting your finances sorted out and back on track. The moment you FILE that consumer proposal or bankruptcy is the time to start rebuilding your credit history. YES, there are […]

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Delivering Fashion-Our House Magazine

12th July 2018

We all know food trucks are now a staple in the diet of any big city. They’ve revolutionized how many of us eat and they’ve put brick and mortar restaurants on notice. So, could the business model work for another favourite pastime: shopping? Ashley Mitobe is the owner and operator of Fashiontruck Canada, one of […]

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Construction Mortgages

11th July 2018

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 following advances: […]

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The Mortgage Insurance Market & Wholesale Lenders

10th July 2018

The Canadian mortgage market used to be very simple. We had the big banks, credit unions, and trust companies. However, almost 20 years ago, the Canadian government made three major changes to the Canadian mortgage industry. First, the government and CMHC put their weight behind Canadian mortgages by guaranteeing an insurance payout to lenders in […]

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It’s all about the property

9th July 2018

With all of the rule changes imposed by the federal and provincial governments around mortgage financing and real estate it may be more difficult to access financing. But don’t take it personally – sometimes it’s not you it’s the property. When lenders underwrite your application for approval they look at you as a borrower but […]

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What is the difference between a Mortgage Broker and a Mortgage Specialist

6th July 2018

With the importance of real estate in Canada, it is vital to understand how the various professionals in the sector operate when buying a home. Sooooooo… what is the difference between a Mortgage Specialist & a Mortgage Broker? At the surface they sound the same • They both arrange mortgages • They both can offer […]

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All About Pre-Approvals

5th July 2018

Are you in the market for a new home? That’s great – but if you’re not already pre-approved from your mortgage broker, be sure to read on. Pre-approvals are very important for two reasons. They give you confidence in knowing that a specific amount of financing is available for you. A pre-approval can put you […]

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Mortgage Protection Plan

4th July 2018

Insurance coverage is something that everyone is “pitched” at some point or another in their life. Unfortunately, a lot of us have a negative attitude towards insurance or warranty as it is perceived as being a cash grab. Yes, if you are purchasing a flat screen T.V., that extra 2-year warranty for $100 might be […]

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Vacant Possession

3rd July 2018

DISCLAIMER: This post is written for buyers, in other words people who do not currently own a tenanted property. This post is not suggesting in any way that the rights of an existing tenant be infringed upon Purchasing a residential property? Two words that matter this Spring; Vacant Possession Your contract had best contain a […]

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Top 5 Things To Consider When Building Your New Home

28th June 2018

Building a new home – It’s something that many couples dream of. It can be an exciting, stressful, joyful, crazy time period that many walk away from saying “never again” or “bring on the next one!” We scoured the internet and sorted through our own experiences to bring you the Top 5 things to consider […]

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4 Smart Features that will boost the value of your property

27th June 2018

People have a lot of different ideas on how they want their home to look. Some want a modern look while others like traditional cottages. But one thing that more and more people want is smart technology in their homes. This adds value and desirability to your home making it easier to sell for the […]

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Reverse mortgage – Some common misconceptions

26th June 2018

The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments can be made if they wish, they are truly optional. No medical required and limited income […]

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What Is a “Monoline” Lender?

25th June 2018

What usually follows once someone hears the term “Monoline Lender” for the first time is a feeling of suspicion and lack of trust. It’s understandable, I mean why is this “bank” you’ve never heard of willing to loan you money when you’ve never banked with them before? In an effort to help you see the […]

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Poloz Opens The Door For A Rate Hike In July

1st June 2018

As expected, the Bank of Canada held rates steady at 1.25% for the third consecutive month but said that first-quarter growth was stronger than expected and that developments since April suggest that higher interest rates will be warranted. The first quarter GDP numbers are out tomorrow morning, and it’s clear the Q1 growth will be […]

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Fake-ish News

8th May 2018

 Fake(ish) News: ‘Mortgage Rates Went Up Last Week Real News: On April 27th TD increased their ‘posted rate’. What’s a posted rate? It’s the list price, the MSRP — you know that price that nobody actually pays…’rack rates’. Posted is not Prime, Prime is not Posted – there is no connection between Posted and Prime. […]

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What is a Refinance?

4th May 2018

 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 you paid 20% ($60,000) […]

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Getting pre-approved for a mortgage this Spring

26th March 2018

 Apparently, as per the weather experts, March has a lot of snowfall and surprisingly so does April! Hearing this on the radio gives you a wave of emotions: holy cow, oh great, I wonder how many vacation days I have left and when can I take down my Christmas lights. Good news, those same weather […]

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Refinancing in 2018

14th March 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 property what we […]

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Bank of Canada Concerned About Trade Risks

7th March 2018

  The Bank of Canada held rates steady today, as expected, highlighting “trade policy developments” as an “important and growing source of uncertainty for the global and Canadian outlooks.” As the seventh round of NAFTA negotiations commenced in Mexico City, President Trump dropped a bombshell late last week, threatening to impose a 25% tariff on […]

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Mortgage Broker Value

22nd January 2018

Not surprisingly, borrowers often default to their own Banker. And why not? It’s an established and comfortable relationship. Perhaps it’s viewed as the path of least resistance. But is it the right lender for the borrower’s current specific needs? Perhaps not. More sophisticated borrowers may be of a size or scale that they have their […]

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Bank of Canada Raises Rates Cautiously

17th January 2018

  As was widely expected, the Bank of Canada announced another quarter-point interest rate increase this morning, saying that more hikes are ahead. According to Governor Stephen Poloz, the “big cloud” over the Canadian economy is the uncertainty associated with NAFTA and he cautioned that it would be some time before interest rates return to […]

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