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 […]

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 […]

25 years of originating mortgages!   It really is a good time for reflection.   When I first started out, I didn’t know anything about mortgages, except that I had one and that my husband and I had to be sure we could make our payments – I shall digress briefly and tell you that we barely […]

As you have likely heard, the Bank of Canada opted to hold the overnight rate as is, meaning there will be no change in variable rates.  In its press release, the Bank of Canada stated that “The federal government’s new measures to promote stability in Canada’s housing market are likely to restrain residential investment while […]

Not every home purchase will be your forever home.  Sometimes, we outgrow our homes and look to move on to homes more suitable to our current needs.  You may outgrow your house before your mortgage term is up, which may lead you to wonder what happens to your mortgage if you sell your home before […]

  Some thoughts on the Federal Government’s recent announcements: Some effects are already apparent as some mortgage companies have stopped taking applications for self-employed clients and rental properties, and refinances have to close by Nov 16 so after that date, they will not be taking refinances either. Other lenders will continue to take the above […]

Here are some key mortgages terms every prospective home buyer should know.   If you have any questions about mortgage terminology, or you want to discuss what mortgage would best suit your individual circumstances, call me today! Appraisal: a comprehensive report that determines the value of your property based on a number of valuation factors. Adjustable-Rate […]

With all the different mortgage options out there, it is difficult to decide what route you should take.  On top of that, there are many mortgage terms that the average consumer may not fully understand.  Often overlooked is the repayment terms of the mortgage, meaning whether the mortgage is open or closed. Open mortgages are […]

Paying off your mortgage early can be tempting.  However, there are many factors to consider before you decide to pay off your mortgage early. When should you pay off your mortgage early? If you have a small balance remaining on an “open” mortgage, and you are not planning on buying again, paying off your mortgage […]

1. How much can I afford? Before you go home shopping, a mortgage broker can tell you what you can afford, and give you an idea of what your payments may look like.  A pre-approval will help narrow down your home search, and let you budget your monthly expenses in preparation for a new mortgage. […]