Spring has sprung! Is Now the Right time to buy a home?
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / First Time Home Buyer / Market Updates / mortgage / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rules / Stress Test / Uncategorized

Spring has sprung! Is Now the Right time to buy a home?

The first day of spring is March 20th and it can’t come soon enough after being cooped up during some very cold winter months! As experts in the real estate industry say the spring market is the busiest time of the real estate year, now would be the time to make the decision, do I … Continue reading

IS YOUR DREAM HOME NO LONGER FITTING INTO YOUR BUDGET?
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / Income / Lenders / Market Updates / mortgage / mortgage rule changes / Purchase / Qualifying / Rules / Stress Test / Uncategorized

IS YOUR DREAM HOME NO LONGER FITTING INTO YOUR BUDGET?

It has now been over a month since the Office of the Superintendent of Financial Institutions (OSFI) announced its sixth change to its B-20 guidelines, which are otherwise known as the mortgage rules that must be followed by all federally regulated lenders. I have heard a number of mortgage brokers are saying the borrower rejection … Continue reading

Helpful hints on how to save for a down payment to buy a home
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Stress Test / Uncategorized

Helpful hints on how to save for a down payment to buy a home

As a mortgage broker for the last 15 years and 20 years before that as a banker, I have heard from many people over the years who say they are tired of renting. A common statement is “I can easily make a mortgage payment because I am paying at least that amount in rent but … Continue reading

YIKES!!!! Do I stay in a variable rate mortgage or convert into a fixed rate term before the rates go up even higher????
Broker vs. Bank / Credit / Documents / Lenders / mortgage / Mortgage Renewal / mortgage rule changes / prime rate / Qualifying / Rates & Terms / Stress Test / Uncategorized / Variable Interest Rates

YIKES!!!! Do I stay in a variable rate mortgage or convert into a fixed rate term before the rates go up even higher????

Definition of a decision- A choice made between alternative courses of action in a situation of uncertainty. Even with 35 years of mortgage experience, I am confused as to how to answer this question because the economists seem to all have different opinions about what is going to happen with the rates and let’s face … Continue reading

Now, more than ever, you need a Mortgage Broker on speed dial!
Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

Now, more than ever, you need a Mortgage Broker on speed dial!

Whether you’re looking to buy your first home or refinancing your rental property, the mortgage landscape is far different than it used to be due to all of the mortgage changes. Based on many years of mortgage underwriting experience while working with the banks for 20 years and as a Mortgage Broker for the last … Continue reading

What are closing costs when buying a home?
closing costs / Documents / Downpayment / First Time Home Buyer / Lenders / mortgage / Purchase / Qualifying / Uncategorized

What are closing costs when buying a home?

While your down payment plus the mortgage will cover the purchase price of your home, you do need to be prepared to come up with even more money for all of the other expenses involved when getting a mortgage. You’ll pay some costs at the beginning of the home-buying process and others, known as closing … Continue reading

5 Do’s and Don’ts for Homebuyers
Broker vs. Bank / Credit / Documents / First Time Home Buyer / Lenders / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rules / Uncategorized

5 Do’s and Don’ts for Homebuyers

It’s not every day that you spend thousands of dollars buying a new home. Below are 5 important actions that every Homebuyer should be aware of. With this in mind I suggest starting with making a plan of exactly what you want, do your research and look into advice offered by several experts. You may … Continue reading

What is my payout penalty?
Broker vs. Bank / Credit / Documents / Lenders / Market Updates / payout penalty / Pre-Payment / Rates & Terms / Refinance / Rules

What is my payout penalty?

When I get a call asking about refinancing a property, I always ask if you are presently in an open or closed term and will you have a pay out penalty if you leave your current lender? Not all mortgages are alike and neither are all mortgage lenders. The penalty for breaking a variable rate … Continue reading

Is a purchase plus improvement mortgage for you?
Broker vs. Bank / Documents / Lenders / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

Is a purchase plus improvement mortgage for you?

Your realtor opens the door to the house you think just may be the ideal home for you, decent condition and located in a great neighborhood you have had your eye on for a long time. Once your eyes adjust to the dark interior, you see to your horror, chocolate brown carpet everywhere including in … Continue reading

Why use a Mortgage Broker?
Broker vs. Bank / Credit / Documents / First Time Home Buyer / Lenders / Pre-Approvals / Purchase / Qualifying / Uncategorized

Why use a Mortgage Broker?

It’s not every day you spend 100,000’s of dollars on buying a home. The stress this creates for many people can be huge, but it doesn’t have to be. You ask how this can happen? Easy… Surround yourself with a team of experienced professionals! An experienced realtor will insist you start with arranging your financing … Continue reading