Our Mortgage Services

Mortgage Pre-Approval

Find out how much you can afford before you go househunting! This will keep you focused on shopping for homes within your price range. If you qualify for a preapproved mortgage, you'll be certain of the size of mortgage for which you qualify and guaranteed a rate for a specific period of time. If you don't qualify for a pre-approved mortgage, we will be able to help you estimate a mortgage-qualifying amount.

First Time Buyers

Buying a home is an exciting time! You're about to take a big step so you'll definitely need some advice from a mortgage professional. We'll give you the facts your bank won't tell you about financing your next purchase. With access to multiple lenders, we'll help you find the best rates and best mortgage options to help you buy your dream home. Our best advice? Begin with a conversation with a mortgage professional in your area.

Renewing Your Mortgage

If your mortgage renewal is fast approaching then you’ll soon be at an important financial milestone. Now's a great time to look at the many innovative options and competitive rates available. Lenders send out renewal forms just prior to renewal dates to those with good payment histories, with about 70% of homeowners sending it back without asking any questions. In today’s hectic world, that can be the easiest and best route, but you should ask yourself some questions before you sign on the dotted line. This could be an important moment of opportunity.

Renovation Financing

Maybe it just needs some new landscaping, an extra wing for your growing family, an expanded kitchen, or a swimming pool in the backyard! A record number of Canadians have taken advantage of the historic low mortgage rates and rising real estate values and have tapped into their home equity through equity take-outs. There's never been a better time to access the extra funds that can help bring your home to that next level of comfort. Consider accessing the cash you need for the renovations and improvements you've been dreaming about!

Investment properties

Investment properties - particularly smaller, residential real estate - are now accessible to many average Canadians. And as any homeowner will confirm, real estate has been one of the most attractive investment categories in Canada for the past decade. If you're considering an investment in real estate, start by having a conversation with an experienced Mortgage Broker, to explore some of the innovative new options and great rates available today.

Vacation Homes

There are many Canadians jumping at the chance to own a recreational property. The aging baby boomer population is flush with capital and an insatiable desire for a waterfront or other recreational property. And with the advent of better roads, Internet and telephone service, satellite service, and winterization expertise, people are realizing that vacation properties can make ideal retirement homes. No longer just perceived as a welcome retreat from the city, a second home is now viewed as a solid financial investment with the added value of a potential retirement property.

Debt Consolidation

Many Canadians are taking advantage of refinancing some of the equity in their mortgage to reduce their credit card debt. Why pay high interest rates on your bank's credit card debt when you can add that debt to your mortgage and pay a much lower interest rate! One important part of a strategy is knowing "good debt" from "bad debt". A well-planned mortgage can help you turn those bad debts into good debts and get them out of the way.

Why Choose A Mortgage Broker

Mortgage Brokers primary expertise is locating funding for mortgage financing. They know where the best rates can be found. What's more, they have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing.

  1. They work for YOU, not the bank
  2. They are experts at matching you with the best-suited mortgage.
  3. Access to different lenders, banks, trust companies, investors and financial institutions.

Educational Videos

Testimonials

Excellent service, great rates and attention to detail. You walked us through everything so there were no surprises at all. Were grateful that we found your services! Highly recommended for sure.

We wanted to get a mortgage through our bank but came across your website on the internet. Are we ever glad we did. We saved literally tens of thousands of dollars and the whole experience was a breeze.

Latest Blog Posts

Welcome

Welcome to my new Website. I hope you find the information interesting. Should you have any questions, please feel free to contact me.

Read More...

2 Out of 3 Don't Shop at Renewal

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might expect.

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Latest News

2016-05-04 - Give Yourself Some Credit

Your Home & Mortgage

When your mortgage application is being considered, your lender will look at your credit habits: do you pay your bills on time? Do you tend to get over-extended on your credit card? These habits are reflected in your credit rating. In order for your lender to assess your borrowing profile, you’ll need two revolving sources of credit that are each at least two years old.

Worried that some sloppy financial habits might keep you from a great rate or even from getting a mortgage? Here’s the thing: you can give yourself some credit. This important factor in your mortgage negotiation is entirely within your control. Start now to develop good credit habits:

  1. Pay every bill on time. That one habit is your single biggest game-changer.
  2. Don’t run up your credit cards. Use the 50% rule. If your limit is $5000, never let the card go higher than $2500.
  3. Don’t ever let any bill go to collections, even if it’s for a small or disputed amount. These black marks on your credit are hard to erase. If it’s happened, be prepared to explain why, and be sure it’s paid in full and reported to Equifax.
  4. If you’ve ever been bankrupt or under a consumer proposal, you’re going to have some extra challenges. You’ll need to have been discharged for two full years. And you’ll need to prove that you’ve re-established credit after the discharge, with at least two re-established revolving credit items and two-year history of satisfactory repayment. Strong income and downpayment will help.
    If you’re wondering how to polish up your credit, get in touch. I can review your situation and give you some tips on how to boost your credit rating. What are you doing next week? It might be a perfect time to get started.

Build It! Two mortgages to help you build your dream home

Completion Mortgage. Just like it sounds, this is for situations when you don’t need to actually come up with full funding until the home is complete and move-in ready. You’ll need to provide a downpayment when you make an offer to purchase the planned home, and then the mortgage you are approved for is advanced to the builder at possession.

Progress Draw Mortgage. This mortgage will give you funds at specific intervals as the house is built. Generally, you’ll need to provide a progress report and have an inspection in order to secure the next “draw” of funds. While the number of draws can vary, it is common to have three draws: one at rough-in, one at completion, and a final draw when you take possession of the home. Once the home is completed, the mortgage will be converted to a conventional home mortgage.

Be prepared! Get me involved as early as possible in the process. I’ll outline everything you need to consider and all of the documentation you’ll need, so you can dream on!

2016-04-06 - Sunny Days! We Expect a Great Spring Market

Your Home & Mortgage

It’s true the uncertainty in the economy is making some Canadians anxious about their financial security. But the current environment is also creating opportunities, given that we expect another year of record-low mortgage rates. Don’t let fear drive your decision making, focus instead on your current situation and your long term goals. Here are some tips to help you get the most out of your spring market opportunities -  

Be realistic and prepared. A mortgage pre-approval will let you know how much home you can afford. There is no fudging the numbers or wishful thinking so be sure to provide accurate information. Your mortgage approval will ultimately be based on the documentation you provide to verify your downpayment and income. Assembling everything your lender needs is a critical component of mortgage success and doing this early in the process will put you in a good position to take advantage of opportunities.  

Go one step further. Do a budget that includes your new mortgage payment and all of your life expenses. You will want a mortgage that lets you live comfortably.

Be confident. Become a homeowner when you are financially and emotionally ready, without worrying about trying to time the market. Always remember that residential real estate has proven to be an excellent long-term investment.

Three cheers for the home team!  It’s not just a roof; it’s your financial future. As your mortgage broker, I can anchor a strong team; you’ll also need a realtor, a lawyer and a home inspector you can trust.

Carefully planned for, your home and mortgage can provide financial security and the opportunity to build real long-term wealth.

Love that low loonie: your U.S. home is a piggy bank in 2016

There’s a silver lining to the low loonie this year if you happen to own a home south of the border. A few years ago, a wave of smart Canadians took advantage of a strong loonie and low U.S. home prices – and picked up some American real estate. This year, those homes are as good as a piggy bank now that the loonie has dropped.

Why? If you refinance your U.S. home, you can bring those U.S. dollars back to Canada at the current exchange rate. That powerful U.S. dollar is your financial friend, and we don’t know how long it will last. You could use the money to pay off any debts in Canada – or even use the proceeds to purchase another Canadian property. The goal is to get those U.S. dollars back over the border to Canada.

By the way, selling the home triggers capital gains. Refinancing does not. Any income you generate by exchanging your dollars doesn’t count as capital gains, so you don’t pay tax when you exchange your US dollars for Canadian dollars. You also get to keep your vacation property.

Many Canadian owners of U.S. homes rent out the property when they’re not using it – giving them rental income to maintain the home and pay down the mortgage.

Most property values have rebounded well from their lows; so many owners are also taking advantage of the growth in their U.S. home equity. A U.S. bank will typically lend 60% of the appraised value of a property.

If you own a home in the U.S., let’s chat. We have an excellent relationship with a U.S. lender that is licensed in Florida, Massachusetts, Michigan and soon California. You may be able to give your wealth-building a boost!

2016-03-02 - The Mortgage Kit - Start With Proof of Your Income

We’ve all heard the Scout motto “Be prepared”. It’s great advice if you need a mortgage. Assembling everything your lender needs to verify your income is a critical component of mortgage success. A last-minute scramble for documents just adds to stress. Get a Mortgage 
Kit folder ready and begin collecting the verification you will need for your income type:

  1. Full-time salary: Provide a recent pay stub and a “letter of employment” on company letterhead that confirms a) your position, b) your annual salary, and c) the length of time you’ve been in your position. If you’re a fairly new employee, lenders will want to know that your probationary period is over. And they will follow up. Commissions and bonuses can be supported by your last two notices of tax assessments.
  2. Commission, contract, part-time and seasonal employment: Company letter and paystub are required. Income must be consistent and can be proven with a two-year average of tax assessments or T4s. If the position is contract, a copy of the 
contract and any renewals is required.
  3. Self-employed: Assemble a) two years of tax assessments, b) business license or registration, or articles of incorporation, c) your T1 general tax returns for the last two years, OR the last two years of accountant-prepared financial statements (if incorporated). Lenders recognize that self-employed income is kept low, so some expenses on your statement of business activities can be added back. If income is difficult to prove, be sure to have a strong credit history and downpayment.
  4. Child support: A copy of the separation/divorce agreement and three to six months bank statements are typically required. This income should be less than 30% of total income.
  5. Disability: A letter confirming permanent status along with a paystub.
  6. Maternity leave: Some lenders use full employment income if the employment 
letter confirms a return date within one year.
  7. Pension, RRIF, Investment income: Most recent tax assessment, T4As for pension income. There must be sufficient funds in the investment for the income withdrawal.

If you are fully prepared, then you’re always ready to take advantage of opportunities!

TAX TIP: $750 tax incentive for 
first-time buyers
Did you buy your first home last year? You may be able to take advantage of the Home Buyers Tax Credit (HBTC) when you file 
your tax return. The $5,000 non-refundable HBTC provides up to $750 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years. For more information, visit www.actionplan.gc.ca/en/initiative/first-time-home-buyers-tax-credit.

New downpayment rules went into effect February 15: for any portion of a house price over $500,000, buyers now need to provide 10 per
cent downpayment for an insured mortgage. The minimum downpayment for the first $500,000 remains 
at 5 per cent

2016-02-03 - What's on Your Bucket List?

Your Home & Mortgage

Your bucket list includes all the goals you want to achieve, and the life experiences and dreams you want to fulfill. It’s often viewed as a “to-do” list for the golden years of retirement, but your bucket list can also include items that you can fulfill now or in the near future. Financial resources are often needed to knock items off your list, which is why your mortgage should always be a top focus. Your mortgage is the cornerstone of a sound financial plan, and can help you take control of your financial future so you’ll be better able to achieve all that is on your list. Here are some tips to help you do just that!

  • Speed up your mortgage paydown. Try to find a way to use your prepayment privileges every year… at least once. Tax refund, financial gift, small inheritance… or just being more disciplined with your savings.
  • Deal with high interest debt. If your credit card balance is more than you can pay off in the next few months – and especially if you have other loans – then you need to start a paydown plan. The right debt consolidation strategy could save you thousands and put you on the right financial path.
  • Sharpen your focus at renewal. When your lender sends you a letter saying it’s time to renew… then it’s time to get an expert second opinion. Make sure you’re getting the best
    deal possible!
  • Renovating over relocating. The right renovation might be all it takes to turn the house you’re in, into the home of your dreams. It is almost always less expensive to renovate than to relocate! There are great financing options available if that’s what’s in your future this year!
  • Take care of your credit. It’s so important to have good credit behaviours so you always qualify for the best mortgage rate. Pay your bills on time. Don’t let your credit accounts exceed 30% of the credit available. Before you cancel any credit cards, get advice.  And don’t apply for a store card just to save on your purchase that day!
  • Choose low-interest debt. Whatever your need might be – funding education, a large purchase, investments, renovations, or paying down debt  – your mortgage might be your most cost-effective financing option.
  • Don’t leave money on the table. If you bought your first home last year, you may be able to take advantage of the $5,000 non-refundable Home Buyer Tax Credit amount, which provides up to $750 in federal tax relief. Not sure if you qualify, ask!
  • Separation or divorce? Your home can be the asset that gives you both a fresh start. And if one of you wants to keep the marital home, there are some great mortgage options available!
  • Mortgage checkup. Get one every year, no matter where you are in your mortgage. Your car gets taken in for regular servicing; shouldn’t your financial future get the same kind of attention?

When you take responsibility for your life and your finances, you can achieve all that is on your bucket list. Your mortgage is a key component, and I’m here to help make sure it will get you where you want to go!

2016-01-06 - House over $500,000? New Downpayment Rules in February

Your Home & Mortgage 

On February 15, 2016, minimum downpayment rules are changing in Canada – for homes worth more than $500,000. The change is straightforward: for any portion of the house price over $500,000, buyers will need to provide 10% downpayment for an insured mortgage. The minimum downpayment for the first $500,000 will remain unchanged at 5%.

How much difference could it make? Here’s a simple example:

Right now, you could get a mortgage for a $750,000 home with a downpayment of $37,500: a simple 5% of $750,000. Once the new rules kick in next month, you’ll need $50,000 downpayment for the same house: 5% for the first $500,000 ($25,000), plus 10% for the $250,000 over the limit (another $25,000).

The change was announced in mid-December by the new Liberal Finance Minister, Bill Morneau. While most Canadian homebuyers will be unaffected, the move is designed to protect Canadian homeowners by ensuring a stronger equity footing in their homes.

If there’s a house purchase in your future, let’s talk. You will need a mortgage approval before February 15 to qualify under the 5% rule, and your purchase must also close before July 1, 2016.

Here is a handy chart that outlines the impact of the new minimum downpayment requirement

Purchase Price

New Downpayment
Requirement

Old Downpayment Requirement of 5%

Up to & including $500,000

No change.
5% - up to $25,000

up to $25,000

$600,000

5.8% - $35,000

$30,000

$700,000

6.4% - $45,000

$35,000

$800,000

6.9% - $55,000

$40,000

$900,000

7.2% - $65,000

$45,000

$999,999

7.5% - $75,000

$50,000

Read More News...

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