Home buyers often question whether it will make a significant difference in their purchasing power if they buy a home with a basement suite. The answer that most mortgage professionals give, is that it generally won’t make as much as an impact on the home you can afford to buy as it used to. That’s [...]
Record low rates for the foreseeable future. That’s the headline for this brief mortgage update as we head into the beginning of fall. Unlike the WE Charity scandal, there are no secrets here and it’s widely understood that rates have continued to steadily drop since the beginning of April, and the majority of customers are [...]
In Canada, mortgage insurance is required for all home purchases involving down payments of less than 20 per cent. To curb demand from risky borrowers and to stabilize prices, the Canada Mortgage and Housing Corporation (CMHC) has introduced new rules that make it tougher to qualify for coverage in their mortgage insurance plan. The rules, which [...]
Deferring mortgage payments has received a lot of media coverage as an option during Covid-19. This can be a great choice to improve cash flow, and even assist borrowers to pay off their other higher interest consumer debt (such as credit cards and lines of credit), instead of paying off their low rate mortgage. [...]
Today I am posting a story that I'm sure that most of us can relate to. Last week we at Ingram Mortgage Team were contacted by a Realtor partner. They had been contacted by a previous client who was concerned about her Mom and needed advice. The Story Mom and Dad have rented the same condo [...]
2019 Canada's mortgage market was an interesting one to say the least! From the plunge in interest rates, to the late-year surge in mortgage growth to the growing influence of online discount mortgage lenders, it was a year of firsts and milestones. The phenomenon of five-year fixed rates selling for less than variable rates will [...]
There have been massive changes to the mortgage landscape in Canada over the last number of years. In the past, all borrowers generally got the “best” interest rate. It didn’t matter if you were buying a rental property, how much you had for a down payment, or if you were refinancing… everyone got the same [...]
The new First Time Home Buyer’s Incentive opened up for applications on September 2nd. This is an initiative that was announced by the Liberal government when they released their budget earlier in the year and is aimed at easing affordability for first time homebuyers. The premise of the program is an interest-free shared-equity loan that [...]
The benefit of working with me, a TD Mortgage Specialist, is that you are my client for life – even after the mortgage process. I am always a phone call away to answer any questions about your mortgage or other banking needs. I have access to all your banking, where as a mortgage broker will [...]
Would you like to buy that home for 35% less? If you follow the real estate market in BC, you know that home values have dipped over the last year and a half. Many homes have dropped in value around 15% from their peaks. There are a variety of reasons for this, but the introduction [...]
