If you're looking to buy a new property, refinance, or renew an existing mortgage, chances are, you're considering either a fixed or variable rate mortgage. Figuring out which one is the best is entirely up to you! So here's some information to help you along the way. Firstly, let's talk about the fixed-rate mortgage as this is most common and most heavily endorsed by the banks. With a fixed-rate mortgage, your interest rate is "fixed" for a certain term, anywhere from 6 mont

Whether you want to set aside money to buy a car or take a vacation, save up for a down payment on a property, or plan for your retirement, the principles are the same. However, as you’re reading this article on a website dedicated to helping you secure mortgage financing, we’ll assume you want tips on how to save for a down payment! The key to saving money is getting clarity - clarity around your income and your expenses, developing and following a clear plan, and seeking he

To my valued clients & friends, Despite previous announcements OSFI (banking regulators) have announced that the new benchmark stress test rate will apply to ALL MORTGAGES as of June 1, 2021. who will be affected: - first time buyers - anyone with less than 20% down purchasing - anyone with more than 20% down purchasing with an A lender - anyone looking to refinance their existing mortgage with their current lender or with a new lender - anyone looking to change lenders at th

According to RE/MAX, one of the biggest trends for Canadian homeowners in 2021 are move-up buyers looking to purchase a home that offers more space for them and their families. In fact, this is true for a whopping 29% of Canadians! Unsurprisingly, this demographic is made up mostly of younger Canadians (under 35) with growing families. If you are someone who fits this bill and is desperate for a home with more space because you’re feeling cramped or have a littl

If you are looking to have a garden that is the envy of the neighbourhood, May is a great time to get started on your gardening to-do list. I have put together some helpful tips and ideas for how to get started so your garden shines all summer long! Plant Annuals and Perennials: This is a great time to start planting annuals and perennials in your garden. Some good choices include: cosmos, marigold, nasturtium, sunflower, sweet alyssum, and z

The term “rate hold” may be something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! A rate hold is offered by the majority of lenders to clients who are purchasing a new home and need a mortgage. The purpose of the rate hold is to secure the interest rate on your mortgage application for a certain time period. Often, these holds range from 90-120 days. Bear in mind, these are typically not provided

If you’re in the early stages of planning to buy either your first home or your next home, you’ve come to the right place! Even if you’ve been through it before, the home buying process can be daunting, but it doesn’t have to be when you have the right people on your side! The purpose of this article is to share a high-level view of the home buying process. Obviously, the finer details can be addressed once you’ve submitted an application for pre-approval. But for now, here a

So what is a refinance? Well it is when you take your current home's mortgage and restructure it. Typically this is to change the amount you owe, the rate or the people listed on the mortgage contract. What are the top reasons someone would do this? To take advantage of a lower interest rate than you currently have. To pay out higher interest debt like credit cards or lines of credit. To increase amortization and make the monthly payments lower for affordability or to qual

Unsure About The Housing Market? Here’s a Plan. If you’ve been thinking about buying a property, whether that be your first home, your next home, your forever home, or a home to retire into, the current state of our economy might have you wondering: Is this really the right time to make a move? There is certainly no shortage of doom and gloom out there. The truth is, that’s a tough question to answer in the best of times. It’s nearly impossible to know for sure what’s going t