Will Deferring Your Mortgage Impact Your Ability to Borrow? In April 2020 all Canadian lenders offered home owners the ability to defer their mortgage payments for up to 6 months due to COVID-19.  Some borrowers chose to do this without considering other options, the consequences or the question will deferring your mortgage impact your ability […]

Do the new CMHC rules matter? Canada Mortgage and Housing (CMHC) announced changes to the rules for high ratio buyers this week. But these new rules with CMHC for first time buyers mean little change for many. Effective July 1st CMHC will no longer insure mortgages for buyers with a credit score lower than 680 […]

Options for mortgage payment deferral during COVID-19. With the announcement in March that the big banks will allow deferral of mortgage payments for 6 months an influx of people applied for this option.  In times likes this we sometimes make decisions without a full review.  There is no better time to consult with your professional […]

Peace of mind with your mortgage and up to 3% Cash Back.  Now wouldn’t that be nice if it were true.  But wait it is true. With rates as low as 1.79%  year fixed it’s worth taking a look! If you are a home buyer looking for options to make a purchase this might be […]

What happens to your variable rate mortgage payment when the Prime rate changes?  .  Not all lenders have the same policy.  Some lenders will lower your payment to match the rate reduction. While others will not make the change and keep payments the same. You should be clear on the answer to this question if […]

Please see details below for the unified strategy for home buyers financing now till Sept 30th 2020. If you have any questions or clients who need assistance, I am here to help.   INSURED/INSURABLE & UNISURABLE PURCHASE (30yr/$1M+) DEALS – unified strategy from insurers:   In light of the current environment related to COVID-19, we […]

What you need to know about how fixed and variable rates change differently Over the past few weeks we have seen changes in the fixed and variable mortgage rates.  Every time I receive a  call from someone about the rate changes the same discussion occurs.  So here is what you need to  know. Fixed and […]

A change to the benchmark by the Federal Government means a mortgage rule change effective March 21st 2020.  The reduction in the benchmark from 5.19% to 5.04% will allow everyone to qualify for more on a purchase , refinance or switch of their mortgage. The rule change for high ratio borrowers that was to take […]

If you are experiencing difficulty with your mortgage payments due to self isolation / quarantined and/or having been laid off, please know there are options available and lenders offering payment relief. Many lenders have the ability to allow you to SKIP A PAYMENT, or HOLD A PAYMENT. As the world (including lenders) are navigating thru […]

In February 2020 the Federal government announced a change with new mortgage rules for high ratio borrowers.  High ratio borrowers are those with less than 20% down payment.  This change will increase buying power.  The new rules take effect April 6,2020. I won’t get into too much detail on the new qualifying equation. Feel free […]