The Benefit of a Fixed-Rate Mortgage Rate

A fixed-rate mortgage has an interest rate that stays the same for the life of the loan. During the term of your mortgage, fixed-rate mortgages are totally unaffected by Canada’s prime rate. The benefit of this type of rate is that you are protected against interest rate changes, so your regular payments will stay consistent…

The 411 on Bridge Financing!

  What is bridge financing? It is essentially a short-term loan. It is used when the funds from an existing property are needed as the down payment for your next purchase. What are the conditions and rules of bridge financing? As long as your existing house is sold, most mortgage lenders and banks will lend…

MORTGAGES CHANGES COMING YOUR WAY

It’s been a BUSY few weeks and we’ve been getting a lot of questions about the changes coming your way for both insured and uninsured mortgages. I thought I’d break it down for you: ✔️Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their…

Understanding Your Credit Score

When you make an application for a mortgage, lenders work out a credit score for you. Usually, a higher score means you’re seen as a lower risk; the more points you score, the more chance you have of being accepted for a mortgage, and at better rates. So, the big question is how can you improve your credit score? …

How to Pay Off Your Mortgage Faster

Do you think that paying off your mortgage quicker is out of the question for you? THINK AGAIN! ✔️Adjusting the frequency of your payments so that you’re paying bi-weekly instead of monthly will make a big difference. ✔️Got extra cash as a bonus or a gift? Put it on your mortgage! It doesn’t need to…

Fall is in the air

The fall months tend to be a busy time for clients looking for investment properties. Have you saved up for your downpayment? The downpayment funds that you’re able to secure will make a big difference. Let’s discuss your opportunities.

I’d Love to Work with You

Over the last few months, I’ve had the opportunity to work with so many new clients. I love being able to help you find creative mortgage solutions to help you make the most out of your financing. Whether you’re buying your first home, your dream home or your vacation home, I’d love to work with…

Tips to Save Your Money

Here are 3 mortgage tips that will save you money… 1) Ask about pre-payment privileges 2) Find out the penalties for breaking your mortgage 3) Weigh the benefits of a lower downpayment If you want to know if any of these tips would apply to you, contact me today.

Manage Your Debt

The best thing you can do to manage your debt is to borrow LESS than you are allowed….Your housing costs shouldn’t be more than 32% of your gross income. Housing costs include mortgage principal and interest, taxes, heating expenses and half of your condo fees. Find out the home-related costs you can afford each month.…