Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 50 flavours and after you have contemplated, you opt for vanilla, just because it was easy. Finding the […]

Homebuying intention is at its highest in eight years as the growth in the Canadian economy fuels consumers’ confidence. Despite the mortgage stress tests introduced at the start of 2018, a third of Canadians polled by RBC say they are very or somewhat likely to buy a home in the next two years. Among millennials, […]

Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thing about prepayments is that you can pay a little more every year if you want to pay off your mortage faster. A great way to do this […]

The tax changes announced by British Columbia will have a major impact on the province’s housing market according to brokers. A survey of 535 real estate professionals in BC and Alberta carried out by Royal Le Page found that most expect the measures designed to target foreign investors will also hit those who own second […]

The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments can be made if they wish, they are truly optional. No medical required and limited income […]

Short Version: The most important question a home-seller must ask their Broker or their banker this Spring: ‘Do I QUALIFY to port my mortgage?’ You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new rules. How stringent? Long Version: Let’s say you have impeccable credit, a $100,000 […]

Affordability in Canada’s housing markets is generally very good but interest rate increases could start to change that. BMO’s Spring Housing Affordability Report also reveals the influence that Millennials have on the markets in Toronto and Vancouver, but also in those outside these hot markets as they seek more affordable options. However, this influence is […]

You may have heard that March is Fraud Awareness Month. Authorities are trying to raise awareness of identity theft , phishing schemes and other forms of fraud. What you may not know is that as many as 1 in 5 Canadians are committing mortgage fraud whether they know it or not. Fraud for Shelter Is […]

The question most often asked: ‘Is my mortgage portable?’ The answer most often given: ‘Yes.’ This answer is increasingly wrong. In reality you qualify to move ~80% of the balance… maybe. If you are thinking of: Moving (upsizing or downsizing) Locking a variable-rate mortgage into a fixed-rate product … you would be well served to […]

What usually follows once someone hears the term “Monoline Lender” for the first time is a feeling of suspicion and lack of trust. It’s understandable, I mean why is this “bank” you’ve never heard of willing to loan you money when you’ve never banked with them before? In an effort to help you see the […]