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CMHC CHANGES TO ASSIST SELF-EMPLOYED BORROWERS

26 JUL 2018 CMHC CHANGES TO ASSIST SELF-EMPLOYED BORROWERS As a self-employed person myself, I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018, the CMHC has said &ldq...
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BREAKING A MORTGAGE – CAN YOU DO IT?

BREAKING A MORTGAGE – CAN YOU DO IT? Do you have a mortgage? So do I! Looks like we have something in common. Did you know that 6 out of 10 consumers break their mortgage 38 months into a 5-year term? That means that 60% of consumers break a 5-year term mortgage well before it’s du...
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IT’S ALL ABOUT THE PROPERTY

IT’S ALL ABOUT THE PROPERTY With all of the rule changes imposed by the federal and provincial governments around mortgage financing and real estate it may be more difficult to access financing. But don’t take it personally – sometimes it’s not you it’s the proper...
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ALL ABOUT PRE-APPROVALS

5 JUL 2018 ALL ABOUT PRE-APPROVALS Are you in the market for a new home? That’s great – but if you’re not already pre-approved from your mortgage broker, be sure to read on. Pre-approvals are very important for two reasons. They give you confiden...
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REVERSE MORTGAGE – SOME COMMON MISCONCEPTIONS

REVERSE MORTGAGE – SOME COMMON MISCONCEPTIONS The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments...
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DON’T FORGET THE CLOSING COSTS WHEN YOU PURCHASE A HOME

DON’T FORGET THE CLOSING COSTS WHEN YOU PURCHASE A HOME The purchase price you negotiate when buying or selling a home is just one part of the total cost for buying a home. In addition to the purchase price there are several other fees – known as closing costs – all of which ...
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5 THINGS TO KNOW BEFORE BUYING A RURAL PROPERTY

5 THINGS TO KNOW BEFORE BUYING A RURAL PROPERTY After several years as a home owner, my friend was set to buy the home of his dreams. He always wanted to own an acreage outside of town. He had visions of having a few animals, a small tractor and lots of space. As a person with experience buyi...
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8 THINGS YOU CAN DO TO GET THE BEST RENEWAL

8 THINGS YOU CAN DO TO GET THE BEST RENEWAL With 47 per cent of homeowners scheduled to renew their mortgages this year, 2018 is a year of change for lots of Canadians. Here are the top 8 things you can do to get the best renewal: 1. Pull out your mortgage renewal now, and start early. W...
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VACANT POSSESSION

VACANT POSSESSION DISCLAIMER: This post is written for buyers, in other words people who do not currently own a tenanted property. This post is not suggesting in any way that the rights of an existing tenant be infringed upon Purchasing a residential property? Two words that matter ...
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3 MORTGAGE TERMS YOU NEED TO KNOW

3 MORTGAGE TERMS YOU NEED TO KNOW Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thing about prepayments is that you can pay a little more every year if...
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