With long term mortgage rates at an all time low there has been a lot of buzz with consumers who would tend to lean towards a 5 year term to lock into either a 7 year fixed rate or a 10 year fixed rate mortgage. There is a lot to consider apart from rate when it comes to locking into a longer term and you have to ask the following…

The time between when your mortgage is approved and when you close – who is watching the rates for you, advising of any significant rate drops and providing you with the best rates right up until closing?  Would your bank call you to let you know of any rate drops?  Very unlikely, but your Mortgage Broker will.  Take a look at the attached video for a couple of feel good…

With rates still at historic lows, it may be worth your while to break your current mortgage for a lower rate, saving you not only interest costs but reducing your payment and also reducing your amortization – so you pay off your mortgage faster!  This may be the right strategy for you.

To read the full article…

The Government announced on January 17th that they will be making changes to their government backed mortgages.  Namely, any mortgage that has less than 20% as a downpayment (with a few exceptions).  The changes are very important and may affect you.  They are as follows:

Decrease amortization from 35 years to 30 years effective March 18th 2011

For most of my clients this does not mean you are…

On Monday Jan. 17th the federal government announced 3 changes concerning government backed (CMHC) mortgages. The three changes as are follows:

1. The maximum amortization will be decreased from 35 years to 30 years. This is effective as of March 18th, 2011 however, if you have an approval prior to that date for a closing after March 18th then you will still be able to obtain the 35 year…

To watch the interview please click here…

For those considering a TD Canada Trust mortgage, take note.

TD Canada Trust made a  sweeping change to their mortgage lending effective October 18th, 2010.  They are no longer registering mortgage via a standard legal charge and will only accept a collateral charge.  This is very important as it relates to how your mortgage is legally registered and…

This is a question I receive from my clients quite often “Should I use my extra funds to pay down my mortgage or put the funds towards an RSP?”.  Many times it may make sense to make the RSP contribution, wait for the tax refund and then place the refund onto the principal of the mortgage as a prepayment.  However, it all depends as they say…especially in this market when…

Buying a first home can be pretty stressful and will likely impose a fairly hefty financial burden on the purchaser.

Many parents and grandparents may be tempted to lend or give money for a deposit or even act as a guarantor or co-signer for a mortgage in order to try to ease the financial pressure on their offspring. Financial advisors urge them to look at the bigger picture before…

There are many things to consider when looking at making a choice to have a hybrid or split mortgage.  The below noted article article touches on a few items only but there are other pros and cons as well. 

Although on the upside it may reduce your overall rate risk depending on the product you are in, it may be difficult to easily transfer your mortgage at the time…

When getting a mortgage – or when reviewing your current mortgage strategy – it is helpful to begin thinking about the mortgage options with which you would feel most comfortable.  By having an understanding of your priorities and preferences the mortgage process will become more efficient and your satisfaction over the term of your mortgage is likely to be higher.

Here are some questions that you should consider and…

The Bank of Canada is expected by many economists to raise short-term interest rates in June or July, prompting many homebuyers and mortgage holders to ask whether a variable-rate mortgage or a fixed-rate mortgage is best for them.

How, exactly, are mortgage rates offered by lenders determined?  Many Canadian mortgage holders are surprised to learn that the pricing for variable-rate and fixed-rate mortgages are determined by two different means…

The new mortgage rules that the Federal Government has imposed take effect today. Here are the new rules and how they may affect you:

1. Qualifying rates have changed for variable rates and fixed rates with terms of 1-4 years for mortgages that are insured via CMHC and other insurers. This means for purchasers that are putting less than 20% as a down payment. This new rule does NOT…

Here is an article I was quoted in regarding mortgage rates, refinances and prepayment penalties:

Click here to read…

After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate commissions, home inspection fees, moving costs and the provincial government’s forthcoming system of mandatory home energy audits.  While the impact  of the tax will…

Not all debt is created equally.  Let’s face it, debt is not something we desire to have but there is a difference between the good and bad and it lies in how it can hurt or help you reach your financial goals.

Some debt can be seen as an investment in one’s future such as:

For many Canadian homeowners, paying off their mortgage as quickly as possible is a top priority.  Paying down extra principal in the years by whatever means possible can shorten the life of your mortgage and dramatically lower the interest you’ll pay over the long haul.  Here are a few “super” tips on how to make this happen:

1. …

…and why they may not be the best choice for your mortgage.

There has been a lot of talk in the news the last 2 weeks about extended fixed terms, namely 7 and 10 year fixed mortgages. It’s true that rates are historically at their lowest right now and a 10 year mortgage at let’s say 5.25% looks very…

Please find my latest version of the very popular “Home Buyer’s Guide”.  This comprehensive guide offers a wealth of information – perfect for a first time home buyer but also a great reference for anyone who is in the home buying process.

Home Buyer’s Guide – PDF

Wondering about the advantages of using a Mortgage Broker? Click below to see 6 reasons…

Six Reasons to use a Broker – PDF

What does my AMP stand for and why should you look for this accreditation from a Mortgage Broker?

Accreditation for Mortgage Brokers – PDF

Wondering about the importance of your credit history? Here’s a brief explanation…

Credit History – PDF

Need to fix and improve your credit? Here’s how…

Credit Repair 101 – PDF

A great article for First Time Homebuyers….

First-Time Homebuyer – PDF

Deciding between fixed or variable rate….

Fixed or Variable-Rate Mortgage – PDF

A discussion about closing costs and what to expect…

Closing Costs – PDF

Dreaming of a renovation? Here are five steps to make it a reality….

Five Steps to your Dream Reno – PDF

Are you self-employed? A great read on self-employed
borrowers and how experience is a big plus…

Self-employed Get Credit for Experience – PDF

Looking at purchasing a condo as a rental investment? Great article discussing this…

Condo Rental Investment Properties – PDF

Thinking about purchasing a second home? Here are some tips…

More Canadians Purchasing Second Homes – PDF

Considering buying a cottage or a vacation home? Take a look at this article…

Recreation Property – PDF

Is it time to downsize your home and your life?
Take a look for some tips…

Downsizing Your Home – PDF

Getting your home ready for the holiday season…

Deck the Halls – PDF

Needing holiday inspiration? Take a look….

A Dickens of a Holiday – PDF

Considering consolidating your debt? Here are a few things that may help you…

Spring Cleaning Debt Consolidation – PDF