2017 Year in Review

General Nazarina DiSpirito 1 Jan

2017 was a busy year! While a lot happened, here are the main takeaways I have from 2017: 1.       A lot of first time buyers entered into the market, especially in the condo sector. 2.       Attached properties saw the biggest increase in value (e.g. condos and townhomes) in most areas of the city. 3.       Single family (houses) saw […]

Read More

New Mortgage Rules effective January 2018

General Nazarina DiSpirito 4 Nov

The Bank of Canada announced last week that the new mortgage rules (stress test for mortgages with more than 20% equity) will go into effect Jan 1st, 2018, for all federally regulated lenders. Therefore, if you have a pre-approval or rate hold, these WILL BE subject to the new rules unless you have an actual […]

Read More

Start next year off right by doing a financial checkup this year

General Nazarina DiSpirito 18 Dec

Don’t sabotage your New Year’s resolutions before the New Year even gets here! Do a financial checkup this year to get the New Year started off on the right foot. Popular New Year’s resolutions are to be more organized and get personal finances in order.  However, you don’t need to wait until the New Year […]

Read More

What you need to know about mortgage calculators

General Nazarina DiSpirito 9 Dec

  Mortgage calculators can be a great tool to give you an idea of what your payments would look like if you purchased a property for a certain amount.  Mortgage calculators can show how much your payments might increase or decrease if you change your down payment, amortization period, or interest rate.     However, mortgage […]

Read More

How New Mortgage Rules Can Affect You

General Nazarina DiSpirito 30 Nov

The government’s new mortgage rules are coming into force this week, and whether you are applying for a new mortgage, refinancing, or still shopping for your home, you should be aware of these changes. As of November 30, the government has set new criteria for high-ratio insurance.  Even when clients take a 5 year fixed […]

Read More

Recent Announcements on Mortgage Rates and Minimum Down Payments

General Nazarina DiSpirito 24 Nov

One of the biggest hurdles for home ownership is coming up with the down payment.  In high-priced markets like Vancouver, a 20% down payment isn’t always a given, and many buyers will put less money down and pay for obligatory mortgage default insurance in order to jump into the market sooner.  This insurance has allowed […]

Read More

What to look for when picking a mortgage broker

General Nazarina DiSpirito 17 Nov

Working with the right mortgage professional can save you thousands of dollars, not to mention a huge amount of stress.  I asked my clients why they confidently refer me to their friends and family, and this is what they said: 1. I work directly with you and am there for you.  In addition to getting […]

Read More

What’s Your Story?

General Nazarina DiSpirito 9 Nov

Having reflected on the last 25 years and how mortgage rules and guidelines have changed, one thing I can say that hasn’t changed is “the basis of the mortgage application.”   In short:  what’s your story??? At the end of the day, after your income documents have been reviewed and your credit has been checked, what […]

Read More

“It’s All About the Paper”

General Nazarina DiSpirito 1 Nov

Today more than ever, much of the mortgage application and subsequent approval is about the paper that goes along with it!  And more often than not, I’m finding that lenders want more than just the information that pertains to your job and the property. They are also looking for statements to confirm whether you have […]

Read More