Throughout the mortgage and home buying process, there are many steps and many checkpoints a buyer will need to complete before they can move on to the next one. A buyer will not be able to close on a purchase if they do not have a lawyer. Financing conditions need to be lifted after confirmation […]

Your First Home. What a THRILLING thing that is to think about!! One of the best parts about our job is helping individuals purchase their first home. We know that the process can seem daunting at first, but we have an in-depth understanding and knowledge of what steps are required to make the process go […]

This time of year, there are a few less mortgage’s being done- not many people want to move into a new home in the snow. But if you want to get a worry free mortgage, this is a great time to be shopping. Scope out those potential neighbourhoods – how many snow shovels? Will my […]

Ever wonder what happens to bank accounts that are inactive, forgotten about and left unclaimed? The answer to that question is that you probably haven’t. I know the thought of it never really crossed my mind and I bet that would be the case for most Canadians. My initial thought was “Seriously? Who forgets they […]

You’ve decided that you want to buy a home and you call up a realtor to show you a listing and the first question they ask is “ How much are you pre-approved for?” Many realtors will refuse to book home viewings until they can confirm that you are pre-approved. Why? 1- It shows that […]

So you’re wanting to buy a new home? That is some very exciting news. First question, are you prepared?! We all know big-item purchases are scary. It’s expensive, you are fully committing to this household – there is no turn backing without that pricey consequence. We totally get it. The ultimate first-step is to do […]

A Guarantor, when it comes to mortgages, is exactly what it sounds like—they “Guarantee” the mortgage for another person if they are unable to pay back the loan. Guarantor’s or co-signers are often used if someone has: • Damaged or poor credit • Insufficient income In most cases, someone with poor credit and/or insufficient income […]

Over the last month, as the big banks and many of our monolines mortgage lenders wind down their fiscal year, we are starting to see some very obvious changes in what your credit score can get you. I heard a few months ago that 720 beacons were going to become the new 650. The 650 […]

The reverse mortgage market in Canada has been increasing at a phenomenal rate over the last few years. In fact, for HomeEquity Bank, the provider of the CHIP Reverse Mortgage, growth was well over 40% in August, bringing Canada’s outstanding reverse mortgage balance to $3.03 billion. Compare this to the latest growth in lending for […]

Do you know what kind of prepayment privileges you currently have with your mortgage? Does your current lender allow you to make a 10% prepayment or a 20% prepayment on your principle amount? Can you double your monthly payment? Or can you even increase the amount you are paying monthly? This is important information, and […]