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…

To view the interview please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
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416-400-8107
kim@mortgagesuperhero.com
www.mortgagesuperhero.com…

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…

With curent low rates, is it time to give your mortgage a checkup and see if you could be saving money? Take a look at the most recent article concerning this very subject in MoneySense Magazine, if you would like a free assessment on your mortgage feel free to contact us.

Please click here to read the full article….

Kim Gibbons, ” Your Mortgage Superhero ®”…

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…

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…

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:

Minister of Finance, Jim Flaherty announced 3 new mortgage rules to take effect on April 19, 2010. Keep in mind that these apply to Government backed mortgages – CMHC insured. Here are the rules which are excerpts from the announcement , the breakdown, and how they will impact Canadians:

1. Require that all borrowers meet the standards for a five-year fixed rate mortgage even if…

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

Spring Cleaning Debt Consolidation – PDF