When is the best time to connect with your Agent/Broker to talk about your mortgage? The correct answer is not x number of months before your mortgage renews or x number of months before you purchase a home. It is actually all the time in between. One of the huge benefits of having a relationship a Mortgage Agent/Broker is to be able to prepare for your mortgage transactions properly. When people tell you they NEED a mortgage broker or they NEED mortgage advice now it is

Many clients get confused about what a pre-approval is and what a rate hold is. Typically a pre-approval is a full evaluation of your entire situation and a bit of a garuntee that you can afford the home you are attempting to purchase. In contrast a rate hold is a promise from a lender to give you a specified interest rate offer should you purchase in the next 120 or 90 days (depending on the lender). Pre-Approval A pre-approval is basically an underwriting of all your do

We can offer 3 different options to offer you to finance a home renovation. 1. Purchase Plus Improvements When you purchase a home the lender will loan you the extra money to fund a renovation that improves the value of your home. The lender will require quotes and often a second appraisal to confirm that the renovations will improve the equity in the home. The extra money will come out of your mortgage and be held in trust until the renovation is completed. Then it will

Our contest is well underway. We encourage you to follow this map around Brooklin to check out the well decorated homes Show us your Sparkle Map Each address is pinned on the map. If you click on the address you will also be able to see what charity/non-profit they have chosen to support should they be the home with the most votes as of January 1, 2018. Once you have visited all the homes and selected your favourite you can vote for that home here Show us your Sparkle VOT

Do you have the lender pay your property tax on your behalf while they are paying your mortgage? I know that this is way easier to have one less bill the think about arriving in the mail each month but have you ever considered if this is in your best interest? Truly, convience is the only benefit to having the lender to this for you. Here are a couple down sides that you need to be aware of: Build up of reserve in Tax Account Your mortgage lender is not in the business of

When a new home buyer is looking at a home they likely find a few things that they want to fix or renovate. A purchase plus improvements mortgage can help them do that. This is a mortgage where the lender will loan the money to make that happen. This program is applicable to a principle residence purchase up to 95% loan to value for a new or existing property. The interest rate you secure is not affected by using this program. What can you use this product for? Improveme

OSFI announced new mortgage rule changes this week that will be effective January 1, 2018. We have been asked every day since how this will actually effect our clients. Basically now the stress-test that was previously only applicable to high ratio (less than 20% down) mortgages will now be applicable to people with more than 20% down. The stress test requires us to prove that the client qualifies at the higher of either the bank of Canada’s 5-year posted mortgage rate (cu