September Mortgage Update

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 [...]

By |2020-09-17T20:13:51+00:00September 17th, 2020|Mortgage Update, Uncategorized|Comments Off on September Mortgage Update

New CMHC Mortgage Insurance Rules Now In Effect

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 [...]

By |2020-07-02T17:33:53+00:00July 2nd, 2020|Mortgage Update|Comments Off on New CMHC Mortgage Insurance Rules Now In Effect

Covid-19: What Homeowners need to know – Deferring Payments & Your Credit Rating

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.   [...]

By |2020-05-08T19:03:44+00:00May 11th, 2020|Mortgage Update|Comments Off on Covid-19: What Homeowners need to know – Deferring Payments & Your Credit Rating

How a Reverse Mortgage Can Help Create Opportunity

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 [...]

By |2020-02-28T00:13:46+00:00February 28th, 2020|Mortgage Update, Uncategorized|Comments Off on How a Reverse Mortgage Can Help Create Opportunity

Mortgage Update – 2020 Early Mortgage Forecast

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 [...]

By |2019-12-30T21:48:52+00:00December 30th, 2019|Mortgage Update|Comments Off on Mortgage Update – 2020 Early Mortgage Forecast

November Mortgage Update – Shopping for a Mortgage Rate? 3 Terms you need to Know.

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 [...]

By |2019-11-13T02:21:15+00:00November 19th, 2019|Mortgage Update|Comments Off on November Mortgage Update – Shopping for a Mortgage Rate? 3 Terms you need to Know.

September Mortgage Update – Do You Qualify For The New First Time Home Buyer’s Incentive?

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 [...]

By |2019-09-17T18:51:34+00:00September 17th, 2019|Mortgage Update|Comments Off on September Mortgage Update – Do You Qualify For The New First Time Home Buyer’s Incentive?

August Mortgage Update – Mortgage Basics

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 [...]

By |2019-07-30T21:42:24+00:00July 30th, 2019|Mortgage Update, Uncategorized|Comments Off on August Mortgage Update – Mortgage Basics

Would you like to buy that home for 35% less?

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 [...]

By |2019-07-09T20:59:30+00:00July 16th, 2019|Mortgage Update|Comments Off on Would you like to buy that home for 35% less?

Mortgage Update – Determining Your Maximum Affordability

Before granting you a mortgage, a lender will determine whether or not you can afford the loan amount you’ve requested.  There are a number of factors that the lender will use to determine your maximum affordability, including your annual income and debt obligations, your utility and living costs, as well as your chosen amortization period and mortgage rate. [...]

By |2019-05-14T17:23:59+00:00April 30th, 2019|Mortgage Update|Comments Off on Mortgage Update – Determining Your Maximum Affordability
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