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When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of my favourite money-saving tips: Automatic savings are one of the most effective ways to save because you can’t spend what you can’t access! Instruct your employer to transfer […]

Want to enjoy a financially stress-free retirement? I can help with a reverse mortgage. Do you have the funds to live the retirement you’ve been dreaming of? If you’re like many Canadians, you may find yourself house-rich but short on funds. The good news is that if you’re a homeowner who is 55+, there’s a […]

In light of the new market realities and tightening of credit underwriting standards by both lenders and mortgage default insurers as of late, keep in mind that now – more than ever – it’s important to be careful what you do between the time your mortgage is approved and when it funds. A few mortgage […]

Selecting the length of your mortgage amortization period – the number of years it will take you to become mortgage-free – is an important decision that will affect how much interest you pay over the life of your mortgage. While the lending industry’s benchmark amortization period is 25 years, and this is the standard that […]

Canada Mortgage and Housing Corporation (CMHC) announced yesterday, June 4th, they will be implementing new changes to their lending policies that will take effect July 1, 2020. Below are some of the updates I’ve collected so far… Limiting Gross Debt Service (GDS) ratios to 35% (from 39%) Limiting Total Debt Service (TDS) ratios to 42% […]

Transitioning from renter to homeowner is one of the biggest decisions you’ll make throughout your lifetime. It can also be a stressful experience if you don’t plan ahead by building a budget and saving prior to embarking upon homeownership. Budgeting is a core ingredient that helps alleviate the stress associated with money issues that can […]

Canada’s benchmark rate (a.k.a. minimum stress test rate) has decreased from 5.04% to 4.94% effective May 25, 2020. What does this mean for you? A lower qualifying rate means you, the borrower, can increase your purchasing power slightly and increase the amount of mortgage you’ll qualify for. Good news: The drop from 5.04% to 4.94% now means you can […]

If you are looking for a new home, be sure you get a mortgage preapproval. With a mortgage pre approval, a licensed mortgage broker (like myself), can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually the […]

The benchmark rate (a.k.a. minimum stress test rate) has decreased from 5.19% to 5.04%. This will boost the mortgage amount typical borrowers can qualify for. The Good News The drop from 5.19% to 5.04% now means you can borrow an average of $10,000 more than you could previously! Do you have less than 20% down? […]