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

Have questions about the most recent announced mortgage change?
Downpayment / Helpful Tools / Insurance / Lenders / Market Updates / mortgage / mortgage rule changes / Purchase / Qualifying / Refinance / Rules / Stress Test / Uncategorized

Have questions about the most recent announced mortgage change?

The MortgageGirl has answers! Once again, the Office of the Superintendent of Financial Institutions (OSFI) recently introduced new rules on mortgage lending to take effect January 1,2018. OSFI is setting a new minimum qualifying rate, or stress test, for uninsured mortgages (mortgages with down payments of 20% or greater than their home price). There has … Continue reading

Should I lock my variable rate mortgage in now?
Broker vs. Bank / Market Updates / mortgage / Mortgage Renewal / Pre-Approvals / prime rate / Purchase / Qualifying / Rates & Terms / Uncategorized

Should I lock my variable rate mortgage in now?

I can’t believe how many of my clients have asked me this question over the past few weeks due to the recent increases in both the fixed and variable rates. With a fixed rate mortgage term, the mortgage rate and payment you make each month will stay the same for the term of your mortgage. … Continue reading

If you are thinking about refinancing to access your home equity, DO IT NOW!!!!!
Credit / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

If you are thinking about refinancing to access your home equity, DO IT NOW!!!!!

I apologize for so many exclamation points, but I needed to get your attention if you are sitting on the fence about whether you want to refinance your home in the near future. After three recent mortgage rule changes along with back-to-back interest rate increases with a possible third expected, there is another PROPOSED rule … 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