Mar 11, 2024 | Uncategorized
Different Kinds of Debt and How They Affect Your Mortgage Approval When applying for a mortgage, lenders calculate what they call a “debt-servicing ratio” by looking at your monthly payments and dividing it by your monthly income. So for example if you make $100 a...
Feb 20, 2024 | First Time Home Buyer, Housing, Interest Rates, Mortgage Broker, Realtors, Tips, Uncategorized
In the constantly changing landscape of the Canadian Real Estate market, potential homebuyers often find themselves pondering the question, “Is now a good time to buy or should we rent/save for another year? “ With over 25 years in the mortgage industry, I’m...
Jan 11, 2023 | Uncategorized
Are you thinking of buying your first home, moving up, or looking at that vacation home but aren’t sure if you should get into the market now or wait? It’s no secret that the cost of living keeps going up. Not only are prices for all goods increasing steadily,...
Dec 6, 2022 | Uncategorized
Home sales have increased 1.3% from September to October, the first adjusted gain in eight months. However, one should not assume that this is going to be the beginning of an upward trend but more like a stabilization as sales are 35.6% below the February level. With...
Jan 10, 2022 | Uncategorized
It may be the shock of the pandemic, or the rush of the holiday season but debt incurred throughout a VERY uncertain year. Many of us are wrapping up the year in debt bringing many of 2021’s financial concerns into 2022. Nationally, Canadians spent $792 on Christmas...
May 5, 2021 | Uncategorized
New Mortgage Rules Coming June 1, 2021 A New Stress Test is Coming… Earlier this month the Office of the Superintendent of Financial Institutions (or OSFI) announced that they will be increasing the qualifying rate for those seeking to buy a home with a down...
