Spousal Separation – Maximum Loan-to-Value (LTV) In situations where two parties are on title to a property in the process of a legal separation where one party will keep the existing property, the following guidelines will now apply: Applications may be submitted as a purchase loan up to 95 per cent LTV The following criteria […]

In my 14 years of mortgage brokering I have never come across a better true life example of the wonderful story of a client of mine that I would like to share with you now. Their names have been protected but I can assure you that this story is true. They came to me 5 […]

Benefits of a Rent to Own For the client – Allows homeownership without the immediate need to qualify for a mortgage. A typical rent to own candidate lacks the income, credit or full down payment to qualify for a traditional home purchase. They simply rent the home until such time as they qualify for a […]

Mortgage Life Insurance, Mortgage Default Insurance,Home Owner’s Insurance and Title insurance are Four typical types of insurance available when you purchase or remortgage a home. Title insurance is a unique form of insurance. It protects your ownership or title against losses incurred as a result of undetected or unknown title defects, for as long as […]

The percentage of homeowners taking steps to get their mortgage paid off sooner has been steady since 2000. But the way people are attacking their mortgages has changed in a way that highlights the heavy load of paying a mortgage and all the other costs of everyday life. The latest mortgage market survey from the […]

Sixty-seven per cent of high net worth Canadians (those with $500,000 or more in investable assets) with a mortgage have the cash to pay off their home—in full—but don’t, according to a new survey for mortgage provider Investors Group. Their reasons for holding on to the mortgage vary, including tax planning and income-generating rental properties. […]

Did you know there is a simple and easy way to dispute your property taxes that could potentially save you hundreds or even thousand of dollars each year? I did and it worked for me.  I simply  disputing the assessed value of my home with MPAC and had them agree to a lower property value […]

The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 581 units last month. This was down two per cent from May 2013. And while a two per cent decline in volumes sounds like less than great news, it’s a serious improvement from April of this […]

What are private mortgage loans? Private mortgages are short- term, interest-only loans, ranging in length from 1 to 3 years. Interest only loans do not require homeowners to pay the mortgage principal down, and instead only require interest payments each month. Private lenders have realized that conservative lending guidelines used by banks and conventional lenders […]

Why Canada Fixed Rate Mortgage Penalties Border on Fraud On May 21, 2014 in Mortgage Players compliments of Calum Ross How many big lender fixed rate mortgage pre-payment (IRD) charges rob consumers According to Criminal Code of Canada: “380.(1) Every one who, by deceit, falsehood or other fraudulent means, whether or not it is a […]