This is a continuation of the article I had written here. (more…)

We have a new promotion today for a 3 year fixed mortgage for 2.69% for 3 years. Contact us today to apply!

Update: This promotion is no longer available. Please keep coming back for more promotions to come.

Here we go again. The Office of the Superintendent of Financial Institutions had proposed new guidelines for mortgage underwriting back in March and final Residential Mortgage Underwriting Practices and Procedures were released to financial institutions today.

Along with these, the Department of Finance announced new mortgage rule changes in an effort to limit the debt Canadians are amassing and to cool the housing market. Four new changes will come into effect July 9, 2012.

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The OFSI recently published an amended report regarding proposed changes to mortgage lending policies in Canada. In the report, they made the following recommendations which are of greatest importance to homeowners and home buyers: (more…)

I have news of an exciting promotion available to visitors to my website. Contact me today, and quote the code LEGAL0612 in your communications and in addition to getting you a great mortgage rate, after I complete your mortgage financing, I will pay your legal fees and your appraisal for you! (more…)

Rates have come down with some of my lenders this past week. (more…)

With a blink of an eye, five years is over and you’re starting to get the notices reminding you that your mortgage is up for renewal. You may have conveniently gotten your renewal papers in the mail from your lender offering you a rate that’s lower than what you were paying before (this is because current mortgage rates are at a historical low). It’s easy to just sign on the dotted line and mail it back, but if you stop and think about it, by signing these papers, you’re locking yourself into yet another long term contract.

If you’ve done this before, you’re not alone. Research has shown that most consumers stay with the same lender when renewing a mortgage. Statistics also show that people who spend a bit of time shopping around during renewal time, tend to save more in the long run.

Do you have enough information to make an educated decision about your mortgage? What are some of the options you have?

In order to find the right mortgage product for you, you’ll need to ask yourself what your long-term goals are. Is it to be mortgage free as soon as possible? Or do you need increased cash flow for upcoming expenses like starting a family or saving for a child’s post-secondary fund? (more…)

Recent studies have shown that self employment is on the rise, making up approximately 15% of the workforce in Canada. However, the trend is making it more difficult for the self-employed and other unique prospective mortgage clients to get a mortgage. (more…)