Canada’s banking watchdog, OSFI (Office of the Superintendent of Financial Institutions Canada) announced that there will be a new minimum qualifying rate, or “stress test†for borrowers with a down payment of 20% or more effective January 1, 2018. Buyers will need to prove that they can afford payments based on the greater of the […]
OSFI’s Mortgage Stress Test: What You Need to Know Read More »
Not all banks are the same. Work with a mortgage broker who will negotiate the best rate for you.
Money Saving Tip – Accessing Lower Interest Rates Read More »
If you reduce the amortization on your mortgage, you payment will go up but you will save thousands over the life of the mortgage.
Money Saving Tip – Amortization Read More »
While it may be difficult to make extra payments in the initial years of home ownership, consider rounding your payment up. You will be surprised at the difference it makes over the life of the mortgage.
Money Saving Tip – Rounding Up Read More »
Any extra payments you make, whether monthly or annually, will significantly reduce your interest cost over the life of the mortgage and you will become mortgage free sooner!
Money Saving Tip – Prepayment Read More »
Working with a team of professionals, a REALTOR can help you save money on the purchase of your new home, while a mortgage broker can help you save money over the life of your mortgage.
Managing the Total Cost of Home Ownership Read More »
When you’re entering the world of real estate and buying and selling property, you want a professional who puts your best interests first. As a licensed professional, a mortgage broker is there to answer all your questions, provide options and assist you in picking a mortgage product that best suits your needs.
6 Key Questions to Ask When You’re Shopping for a Mortgage Read More »
