Not many people understand the difference between conventional and collateral mortgages.  With a standard conventional mortgage, you get a set amount, rate and amortization. For example, say the property is worth $250,000 — you get a $200,000 loan at 3.5 percent, a...

According to a new Yahoo Canada and Maru Public Opinion poll, the current mortgage rate hikes are becoming unmanageable. Among Variable rate mortgage holders 45% say they’ll be forced to sell in under nine months. 19% said they had to make drastic financial...

1. Set goals– First of all, make a list of goals that you want to achieve in 2023. For instance, I want to cut down on eating junk food. I want to start eating breakfast every day. I want to cut down on alcohol etc. It will take about 15 minutes to write down your...

January 23rd 2023 Banks don't want you to do your homework, and here's why They will ask you to renew up to 6 months before you need to, hoping you will be too lazy to shop and compare.  While your bank will continually tell you that they value you greatly as a...

January- 16th 2023 To start, let's look at the predictions made in January 2022. In January 2022, the big banks were predicting that: Real estate prices were going to increase throughout the year. (TD called for a 7% increase in Real Estate prices by the end of 2022)...

1. Avoid Impulsive Spending Stick to your grocery list: Research from the University of Pennsylvania shows that people who can avoid impulse spending can save up to 23% on their grocery bills. So create a grocery list and stick to it if you want to save some money....

First of all, a very merry Christmas...and all the best for 2023. This has been a tough year with severe rate hikes for those of you in a variable or adjustable rate mortgage. Rate hikes are the only tool the Bank of Canada has to bring inflation down to its 2% target...

The past 24 months have been exhausting for me as a mortgage broker. I imagine realtors feel the same way. A lot of real estates has changed hands, and prices have gone crazy. Most sales were multiple offers, and selling prices were well over asking. This was...

Portable Mortgage A portable mortgage is a type of mortgage where the borrower can transfer the current mortgage to their new property without changing lenders and without any penalties.  Example: In simple words, a portable mortgage means you can take your current...

People often get confused between pre-approval, pre-qualification, and approval.  In this article, we will explore the differences between these three things. Pre-Approval: A pre-approval is simply a rate hold.  This is the confusing part for most people, as the term...