What’s the deal with mortgage life insurance?
Broker vs. Bank / Documents / First Time Home Buyer / Insurance / Lenders / New to Canada / Purchase / Refinance

What’s the deal with mortgage life insurance?

If you have a mortgage, you’ve been offered mortgage life and disability insurance, probably more than once! This is different than the high-ratio mortgage insurance required when you have less than 20% downpayment. Whether you went through a bank or worked with a Mortgage Broker for your financing, you’ve signed an insurance acceptance or waiver. … 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

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

Buy & Renovate Right Away

How you can buy a home and include improvements in the mortgage! What you need to know about a purchase-plus-improvement mortgage: You find the perfect neighbourhood you want to live in and everything you need is close by, but you just can’t find the perfect home.  One has an awful looking bathroom, another has an … Continue reading

Credit / Debts / Documents / Downpayment / First Time Home Buyer / Lenders / Market Updates / Qualifying

Zero Downpayment Products to be the Next Casualty

The good news is you can still buy a house with no downpayment, the bad news is these programs are ending soon- October 31st to be exact.  This means we can now add the no-downpayment products to the “mortgage casualty list” that we have witnessed getting lengthier over the past few years. This comes as … Continue reading