There are many reasons why people I talk to come to see me and look for a mortgage on a second home. Whether looking to invest, purchase a vacation property (cottage or winter getaway) and even help their kids get a home in this new housing market, the most important part of the discussion revolves around whether they’re ready to …
Should I Use a Private Lender?
Going the private lending route can offer advantages to the borrower in many ways. Many investors actually lean on private lenders heavily as it affords them a bit more flexibility in the investment process. A strong relationship is then formed between private lenders and their clients, and as a portfolio grows, the mutual benefits reveal themselves and a long-term business …
I Need to Renew My Mortgage: What Should I Choose?
A recent CIBC report estimated that almost HALF of existing mortgages in Canada needed refinancing in 2018. With everything added on top of that (rising interest rates, stress test rules, etc.) and that’s a lot of Canadians who might have found themselves feeling the crunch – or even still, awaiting what feels like an inevitability. Here’s the thing: It doesn’t …
Making an Informed Decision: Rate Doesn’t Always Equal Product
The Bank of Canada recently raised interest rates by 0.25 to 1.5 – up from their last hike 6 months ago that saw the rate sit at 1.25. This is now the 4th time interest rates have gone up in the last 12 months. The current rate is the highest this country has seen since December 2008. And, if you’re …
The Solopreneur/Self-Employed Mortgage
Many times, I deal with the self-employed and “solopreneurs” who need to apply or reapply for their mortgage. It’s no secret that lenders look for employment status and a regular income as a baseline for whether you qualify for a mortgage. It’s also no secret that the self-employed face an oftentimes more difficult battle, especially if they’re just starting out. …
Should You Rush to Renew?
A spike in mortgage renewals, rising interest rates & the stress test rule add-ons seem to be conspiring to make refinancing your mortgage more complicated and more expensive. Rest assured it only seems that way and, while many of you looking to renew will look to your lender from previous mortgages, it’s important you always weigh your options. A recent …
What do First Time Homebuyers Expect?
Some of my favourite people to help are first-time homebuyers. Helping them understand how much debt they can afford to take on and getting them into their first home is one of the things I’m most passionate about accomplishing in my role in this industry. It amazes me just how insecure some are when approaching a mortgage for the first …
CMP Hot List 2018
Original Source Link Canada's mortgage industry was subjected to a wave of changes in 2017, which kept everyone from corner-office executives to on-the-ground brokers on their toes as the industry navigated the new waters. But despite the challenging environment, these 45 professionals went above and beyond for both clients and peers, setting the bar for what makes a great mortgage …
Women in industry looking forward to 2018 CMAs
Original Article by: Neil Sharma (https://www.mortgagebrokernews.ca/news/women-in-industry-looking-forward-to-2018-cmas-236112.aspx) The 2017 Canadian Mortgage Awards recognized the growing contributions women make in the traditionally male-dominated mortgage industry, and a couple of last year’s winners hope the momentum continues at this year’s show on April 20. Ameera Ameerullah, CEO of Canada Mortgage and Financial Group—and last year’s winner of the Best Alternative Lending Broker of …
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