We’ve all heard the terms Mortgage Broker and Mortgage Specialist flung around, but what on earth is the difference? Though they sound similar, there are major differences that all home buyers and owners should be aware of. Let’s start off with some simple definitions. A Mortgage Specialist is a person employed by a lending institution […]

Here are answers to some frequently asked questions on the government changes to down payment requirements that take effect today, February 15, 2016. If you recall from my last video, the down payment requirement has increased from five per cent, to ten per cent for the portion of the purchase price above $500,000, but less than […]

No doubt you have thought about the affordability of the current Canadian housing market and chances are you have even thought about where houses prices will go in the future! Maybe you have parents that tell you stories of a different time when they bought their first house for less than you paid for your first […]

Here are the steps you need to follow to ensure you get a mortgage that’s right for you! Step One: Pre-Qualify & Strategize! Step one is to get pre-qualified, which should not be confused with the term pre-approved. The big difference is that no approval is ever given by a lender until they have an […]

More and more Canadians are going into their retirement years without a lot of money saved in the bank. It is suggested that in order to live a financially comfortable retirement, couples should have saved 50-60% of their peak pre-retirement income, which equates to roughly $42,000 to $72,000 a year or $275,000 to $1,025,000. Singles […]

New credit reporting and what it says about you and your spending habits may make all the difference between you buying a home now or later. When home buyers contact me to apply for a mortgage, I always review their credit report with them along with the rest of their application, before they start looking […]

When shopping for a mortgage, many home buyers enlist the services of a Mortgage Professional. There are several benefits to using a Mortgage Broker and I have compiled a list of the top 8: 1. Saves you time – Mortgage Brokers have access to multiple lenders (over 50!). They work with lenders you have heard of and lenders […]

I am often asked by clients about the real value of title insurance, why they need to have and pay for it.  Whether you are a home buyer or a home owner simply refinancing the mortgage on your home, you will need title insurance.  Once I explain the reason and need for title insurance, the […]

Short Version: Do not rely on BC assessment for a value. Do not rely on a buyer in a private transaction for a value. Do not rely on your neighbours, friends, or family members for a value. Do consider a marketing appraisal, but do not rely on it 100%. Do consider the evaluation by an […]

Any time you apply for credit in the form of a credit card, personal loan, auto loan, or cell phone, the company lending you money will want to access your credit report first. Your credit report is a snapshot of how you have repaid your financial obligations in your past. Lenders will use this information […]