The Big Question: What is the Best Rate?
As a mortgage broker of 37 years, I am always amazed that the first question I am ask is “what is the best rate?”. I then must remind myself that it’s possible that I would have asked this same question 37 years ago before becoming a mortgage broker. I decided it’s not that home buyers…
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What you need to know as a First Time Home Buyer
As it becomes more challenging for first time home buyer you need to take advantage of programs designed to assist you when buying your first home. The government says a first-time home buyer buy definition is a person who does not occupy a home currently this year and for the previous three years prior. So,…
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How to weather the Interest Rate storm
As a mortgage broker of 36 years never have I seen the mortgage market in such a state of unknown. I do all I can to keep informed for myself and my clients. I follow most major economists and read forecasts daily. I attend seminars, zoom meetings, webcasts, and conferences more than I have in…
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Should You Spend the Full Mortgage Amount You’re Approved For?
Before you start shopping for a new home, you’ll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not be what you can actually afford, based on your personal situation. Only you can decide…
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Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!
Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance at today’s low interest rates. With interest rates this low, you owe it to yourself to at least give refinancing a…
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Strategies to Dig Yourself Out of the Debt Hole
Debt. It’s something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can help you get your debt out of a seemingly unmanageable situation; it’s just a matter of choosing the right one for…
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Why You Need an Emergency Fund And How to Get One
Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, and more than half would have trouble coming up with $1,000 on short notice. That lack of savings puts them at…
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The Benefits of Investing in Income Producing Properties
Making money in any real estate venture is a difficult task, and many people don’t have the skills (or the stomach) for flipping houses. An alternative to this intrinsically risky activity is to purchase a property for the long term and rent it out. These types of income properties are becoming more and more common…
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4 Hidden Problems That Could Be Hurting Your Home Sale
One of the biggest fears that home sellers have is that their property will end up on the real estate market for months on end. This is a nightmare for a number of reasons. First of all, having your house listed on the market for more than a month or two can cause a huge…
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Reverse Mortgages for Health Care Costs
Healthcare costs for aging Canadians is a topic that many retirees have underestimated. In fact, in the 2014 Sun Life Canadian Health Index, 44% of Canadians didn’t expect to pay anything for the medication in their later years, thinking that these expenses were covered by their provincial health insurance. However, many were unaware that without…
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Reverse Mortgage Facts You Need to Know
Reverse Mortgages have been available in Canada for almost 25 years now however there are still many myths about what it is exactly. Let us help you distinguish fact from fiction. What is a Reverse Mortgage?A Reverse Mortgage is a loan available only to homeowners 55 or older who own their own home. The amount…
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What is the true cost of a Reverse Mortgage?
Reverse mortgages are commonly mistaken for charging a lot of upfront costs. In reality, the CHIP Reverse Mortgage has many of the same costs as a regular mortgage in Canada. Interest RatesReverse mortgage interest rates are posted and updated regularly, similar to the bigger banks. And while they may be a little higher than that…
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