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 the latest growth in lending for […]

Has your broker confused you with terms like insured, insurable or uninsurable? Here’s a simple explanation. With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 categories: 1) Insured – a mortgage that is […]

Amanda Moss and her husband Robert have had a mortgage on various properties for almost 10 years. The Chilliwack B.C. couple was a few years into their mortgage term, but looking to pay off some extra bills and clear up some financing. They hadn’t considered the option of refinancing until Amanda got some advice of […]

Did you know that you can buy a home with ZERO down payment? If a home purchase is your goal this year but you aren’t able to save up enough of a down payment, you may qualify for a low or zero down payment mortgage. One of our Lenders is offering a great zero-down program. […]

While many people will go to their bank to obtain a mortgage or line of credit, the feeling of betrayal could be very strong if their application is rejected. One big advantage that we have over banks is that we can send underwriter notes along with the application. Our questions and speaking at length with […]

If you need open-heart surgery, you want to be sure the doctor in the operating room knows what they’re doing. You want to know they’ve got the professional education, skills and experience to carry out the life-saving procedure. You would expect nothing less from the person handling the biggest financial decision of your life – […]

Transfer/Switches are when you opt to transfer your mortgage to a new lender in order to take advantage of a lower rate. A transfer/switch does not include additional money to the existing mortgage balance owing, your mortgage amount will remain the same, however, lenders will allow you to increase the mortgage up to $3,000 to […]

Are you looking for that new dream home? Maybe just something that will get you out of your current rental property so you can officially become a homeowner? If so, what is the minimum amount you need for a down payment? Below are three different purchase price categories. Each one has their own minimum down […]

It’s not just because of finances. As a mortgage broker, I receive calls from people who want to know how to qualify for a mortgage. Most of the time it comes down to finances but there are other reasons as well. Here are the 5 most common reasons why your home mortgage loan application could […]

It’s getting to be that time of year when we are collecting our tax receipts to file taxes and hopefully get a nice cheque back from CRA. 1st-time homebuyer’s Tax Credit If you purchased a home in 2018 don’t forget to apply for the $5,000 tax credit. This could result in up to $750 in […]