Make sure to know your options before renewing! HOW TO RENEW YOUR MORTGAGE IN 5 SIMPLE STEPS! If you have a mortgage, you’ll be completing a mortgage renewal when your current term has finished. While most Canadians spend a lot of time and expend tons of effort shopping for an initial mortgage, the same is […]

Considering applying for a Home Equity Line of Credit? Read on. As we enter the New Year, there are a few things that we should all think about as homeowners. 1 – Replace your furnace air filter – if you read over the instructions for your furnace you will know that you are supposed to […]

Reverse mortgages are increasingly being utilized! 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 […]

It is not difficult for mortgage brokers to compete with the banks. I am often asked if it’s hard to compete with the banks. While they may offer competitive rates at times, right now we have much better rates than the banks. However, we have certain advantages which allow us to blow them out of […]

If you have been asked to be a guarantor on a mortgage, read this important information! 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 […]

There are many things to consider if you would like to port your mortgage. Policies are always changing, and when you port a mortgage, a FULL application must be approved and completely underwritten with full, credit, income, property and policy review. It’s a mistake to believe that just because you already had a mortgage, you […]

Read on to help pay off your mortgage quicker! So now that you’re a home owner, what are your next steps? Well first, you will have to figure out exactly how you are going to get RID of that mortgage. Yes, that’s right. Now that you got it, here are four ways you can pay […]

Be sure to include a “subject to financing” in your purchase agreement! There is a myth out there that once you’re pre-approved for a mortgage, you’re good to go out and buy a home… with a no subject offer… DON’T do it! A pre-approval means that based on being able to PROVE (through documentation) your […]

Needing a co-signer or looking to be a co-signer for a mortgage? Read on! If you keep up on the news you know that qualifying for a mortgage is getting tougher and tougher. Someone who would have sailed through the application process 10 years ago could find themselves declined for a mortgage today. Often I […]

To downsize, or not to downsize, that is the question? With almost 50% of homeowners ready to retire and wishing to stay in their home and 30% of those people with most of their money tied up in home equity, the downsizing dilemma is real. Can they afford to stay in their home or is […]