More Mortgage Insurance Changes
Credit / Documents / Downpayment / First Time Home Buyer / Income / Insurance / Lenders / Market Updates / New to Canada / Purchase / Qualifying / Rates & Terms

More Mortgage Insurance Changes

This article applies to you if you’re planning to buy a home with less than a 20% downpayment as I’m sure many of you already know the high ratio default mortgage insurance premiums are going up effective May 1st, 2014.  It was also recently announced there will be further mortgage insurance changes effective May 30th … Continue reading

Mortgage Market Update
Credit / Documents / Insurance / Lenders / Market Updates / Mortgage Renewal / New to Canada / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Mortgage Market Update

There are numerous news articles about the national economy published on a regular basis which means you always have access to information about the Canadian market as a whole. This week I want to summarize some predictions that are applicable to our local economy here in Alberta only. I believe that we’re sort of an … Continue reading

Financing a Rental Property
Broker vs. Bank / Credit / Documents / Downpayment / Insurance / Lenders / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Financing a Rental Property

5 Things you need to know When it comes to residential mortgage financing, I always ensure I have the answer to this very important question before going any further into the conversation. Is the property going to be your principle residence that you owner occupy or is it a rental property, also known as a … Continue reading

Insurance / Lenders / Market Updates / Mortgage Renewal / New to Canada / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Mortgage Insurance Premiums are Increasing

What you need to know An announcement last week made by Canada Mortgage and Housing Corporation (CMHC) advised the mortgage insurance premiums will be increasing effective May 2014. This week, I want to highlight how those changes will affect a potential borrower looking for new financing. Although the updated premiums are expected to have a … Continue reading

Credit / Documents / Lenders / Market Updates / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance

Mortgage Rule Changes: A year later

Then, Now & How  July 2013 marked the 1-year anniversary on Minister of Finance Flaherty’s fourth round of mortgage rule changes in as many years. The motivation behind the rule changes were likely to reduce our exposure to a possible housing market bubble and also to reign in a growing consumer debt trend. At the … Continue reading

Credit / Documents / Income / Lenders / Market Updates / Mortgage Renewal / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

Stated Income Mortgages going the way of the Dinosaurs?

Stated Income Mortgages are made to cater to the self-employed borrower. By utilizing a stated income product, self-employed borrowers do not need to prove their income through traditional third party formats like a job letter or paystubs. Instead, we are able to “state” your income at an amount that is reasonable for your industry experience … Continue reading