HOW TO GET A 5% DOWN PAYMENT FOR A $500,000 PURCHASE We have seen a return of the buyers’ market and many people are asking, how long will this last? While some renters without a down payment might be asking, how can o put a plan in place to own? With the cost of living […]

The controversy over the mortgage stress test continues. Banks, economists, mortgage lenders, Realtors, mortgage brokers, and its association Mortgage Professionals Canada (MPC) are urging government to make some changes, not to get rid of the stress test altogether, but to consider some variables, such as income growth and mortgage repayment which may not have been […]

CREDIT CARDS FOR THE CREDIT CHALLENGED If you want to buy a home and don’t have a bucket load of cash – you are going to need a mortgage. In order to get a mortgage, you are going to need credit… When you get a mortgage, banks lend you “their” money and secure the loan […]

THE PREDATORY LENDING SURGE IS HERE As we’ve been reporting for months on our North East blog, instead of protecting many homeowners, the federal government’s restrictive mortgage rules are pushing people out of the safe mortgage market, and into the arms of secondary lenders. By pushing people to the alternative lending market, they’re being pushed […]

3 THINGS YOU MAY NOT KNOW ABOUT CASH-BACK MORTGAGES About twice a year, one of the big Canadian banks likes to run an advertising campaign for their cash back mortgages. These are mortgages usually with 5 year terms where you receive a certain percentage back in cash. The percentage varies from 1% to 5% in […]

6 WAYS TO GET A DOWN PAYMENT When is it time to think about saving for a down payment? I would say about a year before you think about buying a home. While that’s ideal in today’s world, we often do not have much time to save for a down payment. Sometimes your landlord is […]

MAKING THE MOST OF YOUR VARIABLE MORTGAGE Working with your DLC mortgage professional can save you thousands of dollars by making the most of your variable rate mortgage in a shifting market. In the past year we have seen an increase in the prime lending rate by 1%. For those home owners with variable rate […]

WHAT IS A MORTGAGE BROKER? You may have noticed that there are many different terms for those of us who work in the mortgage industry besides “broker”. Mortgage: specialist, expert, advisor, associate, officer, etc. I just want to clear up some potential confusion with all these monikers. There are 2 main categories that these fall […]

APRIL HOME SALES RISE NATIONALLY, BUT NOT IN VANCOUVER Statistics released Wednesday by the Canadian Real Estate Association (CREA) show that national home sales increased in April with most markets recording increases in both transactions and prices. The number of homes sold rose 3.6% compared with March, on a seasonally adjusted basis. The rebound in […]

BUILD A PLAN TO MOVE INTO YOUR HOME There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As […]