If you’re looking to buy a property or have a mortgage up for renewal, and you’re thinking about connecting with your bank directly, save yourself a lot of money and regret by reading this article first. Here are four things that your bank won’t tell you, accompanied by four reasons that explain why working with an independent mortgage professional is in your best interest. Banks have Limited Access to Mortgage Products. Now, while this one may seem pretty straightforward,

A vast majority of parents are currently supporting their children (ages 18-35 years) financially, spending an average of $5,623 per year ! This is an extensive additional cost that most parents cannot afford. In fact, over 30% of parents are seeing delayed retirement in order to help kids with post-secondary costs and are facing an inability or delayed timeframe in paying off their own debts. As much as parents want to help their kids, it should not be done at the jeopardy o

When conventional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative! If you’re seeking a mortgage, but your credit score is damaged in some way and big institutions won’t lend you the money, you’ll find yourself in what’s commonly referred to in the industry as the “Alternative-A” or “B” lending space. Much like the A Lender space (big banks, credit uni

With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a quick list of things to consider. Keep making your payments. A mortgage is a legally binding contract between you and the lender. It doesn’t take marriage into account. If your name appears on the mortgage, you're responsible for making sure the regular

As a first-time buyer, I am here to give you some tips on homebuyer mistakes to be on the lookout for so you can avoid them for the best experience possible! Thinking You Don’t Need a Real Estate Agent You might be able to find a house on your own, but there are still many aspects of buying real estate that can confuse a first-time buyer. Rely on your agent to negotiate offers, inspections, financing and other details. The money you would have saved on commission can be quick

Source: www.mortgagearchitects.ca If you’re in a mortgage that’s coming up for renewal in the coming months and you’re considering just staying with your current lender, you wouldn’t be alone. According to the Canadian Mortgage and Housing Corporation’s (CMHC) Residential Mortgage Industry Report released in the summer, in 2018, the number of mortgage renewals with the same lender increased by 16 per cent over the previous year. The report suggested one of the factors that

Want to know how to save money at mortgage renewal time? Get your mortgage renewal letter and offer from your lender. Send this letter to us and ask if this is the best deal. As your mortgage brokers we will look at what you have been offered and let you know what other options are available in the marketplace. After an assessment of the market we will let you know if you should sign at your current lender or if you can save money by moving somewhere else. Sometimes the

Moving homes can be expensive, in fact it is more costly than ever, and there logistics to consider. For those that actually like, or at least don’t mind their neighbours, or they live in a great school district … there are for many reasons that people before embarking on an expensive move. We believe in a client-first approach, and providing the expertise and insight that clients need for all their mortgage needs to assist people in making smart decisions with their money a

A bridge loan or bridge financing can be available for clients as a way to “bridge” the gap between 2 mortgages when your closing dates are not the same when you buy and sell. You may be taking possession of your new home a week or two in advance of closing on your current home, either because of how your closing dates worked out, or because you want to do some renovating on your new home before you move in. Whatever the reason, bridge financing is going to be your best frie

When people buy a home they pay more attention to their mortgage. It is going to be a new monthly payment and there is lots of options to consider.... 5 years later you typically get a letter in the mail saying here is what we are going to offer you to continue with your existing mortgage for the next 5 years. It usually has a check box that you select and send back to say you are compliant with this idea. Is this what is best for your pocket book? Sometimes yes & someti