Beware of the term PRE-APPROVAL! Here are some facts: Pre-approvals mean something different to every mortgage professional and lending institution For mortgage approvals both the applicants AND the property they are buying need to be adjudicated and approved before funds are advanced…detailed borrower information and documents are typically required for a full pre-approval, however property […]

With the Bank of Canada announcement today, have you ever wondered who the Bank of Canada is and what is its role in our economy? The Bank of Canada is the country’s central bank. Its role, as defined in the original Bank of Canada Act of 1934, is “to promote the economic and financial welfare […]

Versus (vs) – as compared to or as one of two choices; in contrast with. At least once a day I get asked, what’s the difference between ‘this’ and ‘that’? With this in mind I put together some content that will hopefully provide some clarity in regards to  a few of the more commonly asked […]

I know you know today is Election Day. How could you not with all the election signs and non-stop commercials! I’m not here to ask you to vote for a specific Party, rather, I just want to encourage you to vote. We live in a GREAT country and we can only make things better when […]

Whenever interest rates drop or housing values jump, a refinancing frenzy follows. Whether you are looking to trim your mortgage payments, eliminate credit card debt or renovate, experts say you should fully understand all the options available to you before deciding to refinance. Here are some common pitfalls that consumers can avoid when refinancing: 1. […]

Today, with the Internet, we all have an abundance of information literally at our fingertips. Despite the information available many homeowners have limited knowledge about the mortgage process and products. Their lack of knowledge can turn out to be costly. Homeowners should know the difference between a conventional mortgage and a Home Equity Line Of […]

I have something shocking to tell you. Ready? Canadian banks are a business like any other. Gasp and shock! This is nothing less than the truth. They are mandated to produce profits and provide their shareholders with a dividend at the end of the year. This is accomplished by charging us service fees and interest […]

Let’s face it, getting a mortgage is hard, but repaying a mortgage is harder. What is the best way to go about repaying? You say, as quickly as I can and with the least amount of interest! Good answer! Statistics tell us most folks repay their mortgage in less than 20 years. Okay how do […]

There seems much angst and concern from Government regulators over a first time buyer with less than 20% down taking longer than 25 years to pay off an appreciating (or at least historically stable) asset. Also an occasional cry for ‘higher rates’ from the odd pundit as a way to bring debt levels down. While […]

The general consumer will be hard pressed when left to their own devices to shop on their own for their next mortgage, especially if they visit with one of the BIG banks. Typically they will talk about their most popular and profitable product, the 5 year FIXED rate mortgage. If you don’t know to ask […]