3 THINGS YOU MAY NOT KNOW ABOUT CASH-BACK MORTGAGES About twice a year, one of the big Canadian banks likes to run an advertising campaign for their cash back mortgages. These are mortgages usually with 5 year terms where you receive a certain percentage back in cash. The percentage varies from 1% to 5% in […]

WHAT IS A MORTGAGE BROKER? You may have noticed that there are many different terms for those of us who work in the mortgage industry besides “broker”. Mortgage: specialist, expert, advisor, associate, officer, etc. I just want to clear up some potential confusion with all these monikers. There are 2 main categories that these fall […]

MAKING THE MOST OF YOUR VARIABLE MORTGAGE Working with your DLC mortgage professional can save you thousands of dollars by making the most of your variable rate mortgage in a shifting market. In the past year we have seen an increase in the prime lending rate by 1%. For those home owners with variable rate […]

JIDD HAPPENS You may have heard people say “s@@t happens. In the mortgage broker world, JIDD happens. These are unexpected events that can turn a happy homeowners’ life upside down. JIDD consists of: Job Loss – often unexpected and with no time to save for emergencies, things get ugly pretty quick. E.I. payments can run out […]

RENOVATING? CONSIDER A REFINANCE PLUS IMPROVEMENTS Let’s take a closer look at how a Refinance Plus Improvements mortgage can get you the extra cash you need to get your renovations completed. The Standard Refinance An everyday refinance allows the home owner to access up to 80% of the fair market value of the home. The […]

BUILD A PLAN TO MOVE INTO YOUR HOME There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As […]

DO YOU UNDERSTAND THE B-20 GUIDELINES? A new survey has emerged showing that out of 1,901 owners and would be homeowners, 43% (more than two out of five) Canadians are not confident in their knowledge of the mortgage stress tests—despite them being in place for more than a year now. We wanted to give you a brief […]

APRIL HOME SALES RISE NATIONALLY, BUT NOT IN VANCOUVER Statistics released Wednesday by the Canadian Real Estate Association (CREA) show that national home sales increased in April with most markets recording increases in both transactions and prices. The number of homes sold rose 3.6% compared with March, on a seasonally adjusted basis. The rebound in […]

GOING LONG, 5 YEAR + MORTGAGES Recently, Stephen Poloz, the governor of the Bank of Canada stated that he felt that lenders and by offshoot, mortgage brokers, were not being creative in promoting mortgages for periods of longer than 5 years. He feels that the longer the term the less risk there is and people […]

5 REASONS WHY YOU DON’T QUALIFY FOR A MORTGAGE It’s not just because of finances. As a mortgage broker I receive calls from people who want to know how to qualify for a mortgage. Most of the time it comes down to finances but there are other reasons as well. Here are the 5 most […]