2 Oct

DON’T ASSUME ANYTHING WHEN DEALING WITH MORTGAGE FINANCING

General

Posted by: Trina Tallon

A lot of people get into hot water when they assume that because they’ve qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it’s this: Don’t assume anything when dealing with mortgage financing! And if that’s all you take away, […]

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1 Oct

BANK OF CANADA RATE CHANGE – SHOULD I LOCK IN?

General

Posted by: Trina Tallon

This month, the Bank of Canada increased their lending rate for the 2nd time in as many months. The changes in the Prime Lender Rates means that those with a variable mortgage rates will have seen that their mortgages rates adjusted alongside the changes to Prime Rate. For those of you with variable rates, the […]

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1 Oct

TIPS ON GETTING READY TO BE A FIRST TIME HOME BUYER

General

Posted by: Trina Tallon

Very often, the first question is “what can I afford”. To answer this for a person getting ready to buy, we need to know about what is happening now, income, bills, savings, credit score etc. There are many positive things that you can do in the year or two prior to buying. It is always […]

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29 Sep

PAPERWORK YOU MUST KEEP

General

Posted by: Trina Tallon

As a mortgage professional there are things I wish more people were aware of which is why we are going to take a look into the paperwork we all need to hold onto to avoid frustration or even a decline when applying for a mortgage. Each of the following is taken from real life observations […]

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27 Sep

CREDIT SCORES: HERE’S WHAT YOU NEED TO KNOW

General

Posted by: Trina Tallon

The interest rate you pay on loans for every major purchase you make throughout your lifetime depends on various factors, and is dependent on your creditworthiness – everything from the mortgage on your home to your car loan or line of credit. And, given today’s ever-changing mortgage requirements and rising interest rate environment, your credit […]

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25 Sep

IT’S NEVER A BAD TIME TO PLAN

General

Posted by: Trina Tallon

Do successful entrepreneurs just open their doors for business without a business plan? Does a chef open a restaurant without a menu? Do pilots depart the hanger without a flight plan? Can you build a house without architectural plans?…I could go on forever! The answer is NO to all the above. I’m a planner. Whether it’s […]

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25 Sep

BRIDGE FINANCING – HOW DOES IT WORK?

General

Posted by: Trina Tallon

Rarely in life do things go as planned, especially in real estate. In a perfect world, when buying a new home, most people want to take possession of their new house before having to move out of the old one. This makes moving a lot easier and allows you time for painting or renovations prior […]

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23 Sep

AVOIDING “STICKER SHOCK” WHEN IT COMES TO MORTGAGE RENEWAL

General

Posted by: Trina Tallon

Imagine that, a few years from now, the time has come to renew your mortgage. Several years back, you got a $350,000 at the then great rate of 2.24%. Your mortgage payments are $1522 per month. Because we are now in what the financial brainboxes call “ an escalating rate environment “ – normal people […]

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22 Sep

MORTGAGE CHANGES ARE COMING—ARE YOU PREPARED?

General

Posted by: Trina Tallon

We know – more changes?! How can that be! With this ever-changing landscape, mortgages continue to get more complicated. This next round of changes is predicted to take affect this coming October 2017 (date not yet available). These new rules contain three possible changes, the most prominent being the implementation of a stress test for […]

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21 Sep

MORTGAGE BASICS- MORTGAGE TYPES AND PENALTIES

General

Posted by: Trina Tallon

This is part two of our mortgage basics series. It is a good idea to revisit the basics when looking at a complex thing like a mortgage. There can be misunderstandings which crop up. The mortgage process can be very stressful as you wait for some anonymous entity top decide whether or not you are […]

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