Rising rates – What would the MortgageGirl do?
Broker vs. Bank / Lenders / Market Updates / prime rate / Rates & Terms / Uncategorized / Variable Interest Rates

Rising rates – What would the MortgageGirl do?

For the first time in almost 7 years, The Bank of Canada (BoC) has raised the prime lending rate by ¼ of a percent, it increased from .50% to .75%. Doesn’t seem like a very big increase but it does have the potential to cost all of us more money as it affects the rates … Continue reading

Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Income / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized / Variable Interest Rates

Why asking “dumb” questions is quite smart!

There is no such thing as a dumb question. In fact, the smartest thing you can do is ask the most basic question you can think of. The MortgageGirl welcomes and encourages her clients to ask all kinds of questions during the complicated mortgage process. Some of the more common questions the MortgageGirl gets are: … Continue reading

Could your home be an income property?
Income / Rates & Terms / Rental Properties / Variable Interest Rates

Could your home be an income property?

With more houses for sale and many homeowners conscious of their current equity position, renting out your property may make sense. Although glamorized on shows like HGTV’s ‘Income Property’, there are a number of factors to take into consideration when making the decision to rent out your home or a secondary property. Take a look at … Continue reading

Do Not Sign Your Mortgage Renewal Papers Until You Read This!
Credit / Documents / Lenders / Qualifying / Rates & Terms / Refinance / Variable Interest Rates

Do Not Sign Your Mortgage Renewal Papers Until You Read This!

Did you know the 2016 CMHC survey found that 39% of households automatically renew their mortgage when their term is up? You may be missing the opportunity to find a better deal. If your mortgage is up for renewal within the next 4 months, it’s a good idea to start thinking now about what you’re … Continue reading

7 Signs a line of credit is right for you
Credit / Debts / Downpayment / Income / Mortgage Renewal / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Variable Interest Rates

7 Signs a line of credit is right for you

I was speaking with a friend who recently switched over from a mortgage to a line of credit product; she was surprised she hadn’t done it sooner. It got us talking about the differences between the typical mortgage product and a home equity line of credit. While both have advantages, the line of credit can … Continue reading

Moving? Here’s how to rent out your existing home
Downpayment / Insurance / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Variable Interest Rates

Moving? Here’s how to rent out your existing home

  Are you ready to move into a new home but need to decide what to do with your current residence? There are a few options, sell it, or keep it and rent it out? In order to make an informed decision, I believe there are a number of factors to take into consideration and … Continue reading

Picking the perfect mortgage payment
Credit / First Time Home Buyer / Pre-Approvals / Pre-Payment / Purchase / Qualifying / Rates & Terms / Variable Interest Rates

Picking the perfect mortgage payment

Qualifying for a mortgage is not what most homebuyers consider the most exciting part of the purchasing process, so the quality of the mortgage payment may not be high on the usual list of priorities. While you’re busy researching interest rates and looking at potential homes, I will cut down on your screen time by … Continue reading