Homeowners who are selling a property at the same time as buying, are often the least serviced customers in the mortgage industry. If you are both buying and selling your home, you are now managing TWO transactions instead of one and should contact a Mortgage Broker to have a thorough discussion of your mortgage plan and goals.
Separating from a spouse is emotionally draining and this is often compounded when the largest asset in many relationships, the matrimonial home, is a factor. Sometimes, both parties want to sell and buy new homes but other times, one person may want to keep the home and pay their Ex out for his/her share of the equity.
Understanding Why The City’s Assessment, A Realtor’s Market Evaluation, & An Appraiser’s Value May Be Different. You receive a City Tax Assessment in the mail in January of each year. Then, when considering the sale or refinance of your home, a Realtor tells you what they believe your home should be priced. If refinancing,… Continue reading What is Your Home Really Worth??
Equifax, one of two credit reporting agencies in Canada, creates the formulas that calculate your credit score. They create new formulas to adjust to changing consumer behaviour. The mortgage broker industry previously used a formula called Beacon 4.0. As of June 1st, 2016, we are now using Beacon 9.0. This new formula recognizes that a… Continue reading Your Credit Score Got An Upgrade in 2016 – How It Impacts You
One of the first (and most asked) questions I hear is, “What is today’s best rate?”. The answer truly isn’t that simple. Why? Today I’m going to focus on “A” Lenders and assume you have average to excellent credit. Given that scenario, the rates offered by different Lenders range based on: HOW FAST YOUR POSSESSION… Continue reading “BUT SERIOUSLY… WHAT’S TODAY’S BEST RATE?”
Tackling Your Debt Resolution Knocking down debt levels often leads the list of New Year’s resolutions for maxed-out Canadians (according to an annual survey by Angus Reid conducted in 2016). But where to start… (A) Make BILL PAYMENTS on EVERY PAY DAY: Most bills have a monthly due date but if you get paid… Continue reading FITNESS FOR YOUR FINANCES
What do the policies cover and who do they protect? When purchasing a property, the term “insurance” comes up a LOT. After the second or third time, the different insurance policies available may start to blend together but it’s good to understand the differences in all the different types of insurance and it’s especially… Continue reading Insurance, Insurance, Insurance
A Summary of This Year's Major Changes to Canada's Housing Rules Every December, we look back and marvel at how fast the year went by. 2016 was no different but looking back, this year had a lot more changes than many others. There was Brexit, Summer Olympics in Rio de Janeiro, an unexpected Trump… Continue reading Looking Back On 2016 – A Summary of This Year’s Major Changes to Canada’s Housing Rules
Mortgage Default Insurance premiums are going up! Everything you need to know that will affect applications submitted ON or AFTER March 17, 2017.