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

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 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

Relationship Breakdown Mortgage Refinance
Credit / Debts / divorce / Downpayment / Lenders / Mortgage Renewal / Purchase / Qualifying / Refinance / Relationship Breakdown / Rules / Uncategorized

Relationship Breakdown Mortgage Refinance

If you own and live in a home with a sibling, partner or spouse, common law or married, and have decided to part ways; read on. I believe one of the most stressful issues of a relationship breakdown is what to do about the jointly owned home and mortgage. Over the years I have helped … 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

Have you been asked to co-sign on a mortgage?
Broker vs. Bank / Credit / Documents / Downpayment / First Time Home Buyer / Income / Lenders / Market Updates / Mortgage Renewal / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

Have you been asked to co-sign on a mortgage?

Recently, we have noticed an increase in the number of inquiries about co-signing a mortgage. So, the question is, what exactly does it mean to be a co-signer? Why are we being asked this question so often? We say due to 2 significant recent government mandated changes to mortgage qualifying that both went into effect … Continue reading