The variable vs. fixed mortgage rate decision is one of the biggest a borrower will make when selecting their mortgage. Many of my clients are choosing a 3 – 5 year fixed rate right now, as we suspect the rates will trend downwards after the 3-year period. It’s a decision that will affect a homeowner for…
Porting your mortgage entails taking your existing mortgage – along with its current rate and terms – from one property and transferring it to another. You’re only allowed to port your mortgage if you’re purchasing a new property at the same time you’re selling your old one. Unlike mortgage refinancing, porting a mortgage doesn’t require…
Did you know that 60% of Canadians simply sign their renewal documents without giving them any thought or review? We find that many Canadians spend time shopping for their initial mortgage, but the same is not true for their renewal! Did you know that often your renewal offer isn’t the best offer available? We can…
If you’re planning on purchasing a new home this fall, you’ll certainly want to continue reading! Here are my best tips for getting pre-approved for a mortgage. 1) Check your credit score- Mortgage lenders will use your score to gauge your financial stability and your ability to pay off your mortgage. The higher your score,…
This blog post is for all the newlyweds! So many weddings this summer, therefore so many individuals starting their new life together! Here are a few things I want you to think of as you navigate this new journey together: 1) TO RENT OR OWN? If you’re currently renting, make a plan for how and…
With interest rates rising, it’s only normal that I get asked this question a lot. Should I lock in my mortgage? The reality is, that there is no one answer to this. When working with a client, we evaluate their personal mortgage situation. Everyone is unique and therefore we cannot recommend a locked-in rate for…
An appraisal is the best way to estimate your property’s market value based on the location, condition and recent sales of similar homes in the surrounding area. Beyond an estimate of how much your property is worth, an appraisal also indicates the amount a lender will let you borrow for a property. An appraisal directly affects the…
