Category: Blog

Say it Ain’t So – More Changes in the Mortgage World

That’s right, more changes. Yesterday OSFI announced that they are going to be changing the rules for qualifying for a mortgage once again come January 2018. Last October, changes were made to insured mortgage qualifying guidelines which affected many people’s

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Explaining that Down Payment Paper Trail

Again, with the paperwork! I know, it’s a lot. Trust me, I do this everyday, for multiple files. It certainly can seem like a lot of paperwork but if you want to buy a house, you’ll have to provide it

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The Importance of a Pre-Approval

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Default Insurance Premium Increase – It’s coming this Friday

There have been so many mortgage changes lately and we have one more to add. There has been a lot of buzz on social media lately about the increase to default insurance premiums and this is effective for any approvals

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Gifted Equity

I met with a young couple the other day that had plans to buy their parents home when they saved up enough money for the down payment. You can imagine how excited they were when I told them they might

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What It Means When Prime Rate Changes

With the recent increase that TD has made to their Prime rate, it leaves a lot of mortgage holders with a variable rate questioning what this means to them. Let me tell you. First, it is only TD that has

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Tell me more about these “Internet Banks”

“Tell me more about these ‘internet banks’ “. Oh, how often I hear this when I meet with new clients that have never used a mortgage broker before. I don’t know what has taken me so long to write about

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Property Tax Payments Explained

June 30 – a dreaded day in Brandon. The day property taxes are due for the current calendar year.  If you own a home and you have not already received your property tax bill in the mail, be sure to

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Equity Take Out To Purchase A Revenue Property

This past week while doing an open house, I came across a long-time acquaintance that was interested in purchasing a revenue property. She already owns a home in which she lives as well as another revenue property. The problem isn’t

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What Is A Cash Back Mortgage?

A cash back mortgage is a mortgage in which the lender will offer you a certain percentage of cash back once the mortgage closes. Sounds great doesn’t it? Why wouldn’t everyone do that? I have had a few clients asking

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