About twice a year, one of the big Canadian banks likes to run an advertising campaign for their cash back mortgages. These are mortgages usually have a 5-year term where you receive a certain percentage back in cash. The percentage varies from 1% to 5% in most cases. Sometimes when someone purchases a house, all […]

You may have noticed that there are many different terms for those of us who work in the mortgage industry besides “broker”. Mortgage: specialist, expert, advisor, associate, officer, etc. I just want to clear up some potential confusion with all these monikers. There are 2 main categories that these fall into. The first is those […]

In a shifting market, working with your DLC mortgage professional can save you thousands of dollars by making the most of your variable rate. In the past year, we have seen an increase in the prime lending rate by 1%. For those homeowners with variable rate mortgages who secured a low discount, savings can be […]

If you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker. On standard residential mortgages, it’s 100% free for the clients. We’re paid by the bank […]

Sole proprietors are individuals who run their own business and do not have it set up as a corporation or partnership. The biggest difference between them and a corporation is that a sole proprietor does not have a separation between their business and themselves. This means that when taxes are filed, all costs that are […]

1. Change your job.  You were qualified for your mortgage financing based on your income, how long you’ve been there, and the understanding that you will remain there for a while. Changing jobs should be put off until after possession day. 2 – Changing your name. Make sure that your identification and your name match. […]

For self-employed clients, incorporation is a popular business structure we tend to encounter. Having a corporate structure to your business allows for effective separation between the individual and the business. If you own your business and have it set up as a corporation, that corporation is essentially its own person. They have their own income […]

You know, there used to be a time when I could give you a quote over the phone and I wouldn’t have to worry about being too far out. Today is a totally different story. Here are some of the variables that come into play: 1. What’s your credit score? A 700 FICO score is […]

To tap into your home’s equity, it all starts with refinancing your mortgage. If you own a home, the equity you have built up in it is one of the most valuable assets available to you. It is also much more accessible than taking out a large loan. In many cases, home equity loans and […]

Throughout the mortgage and home buying process, there are many steps a buyer will need to complete in a very specific order. A buyer will not be able to close on a purchase if they do not have a lawyer. Financing conditions need to be lifted after confirmation from a mortgage broker that a file […]