A reverse mortgage is a solution that’s designed for Canadian homeowners above the age of 55. The goal of this mortgage is to help a homeowner turn their equity into cash which is tax-free and without the ongoing requirement of monthly mortgage payments. Sometimes you need to put in reverse before you can conquer the road ahead!

In the past couple of years, we have enjoyed all-time low interest rates and now the financial landscape is changing somewhat with recent Bank of Canada interest rate increases. We saw many Canadians opting for variable mortgage rates and some are now asking if they should covert to a fixed mortgage

Buying your first home is truly an exciting and defining life moment for many and there are support programs that new buyers should know about when having a goal of owning their very first home. In this blog, we will look at some of the popular incentives/programs that are available for first time home buyers in British Columbia.

If the cost to purchase a detached home is too high or out of the question for a younger buyer, they may want to consider starting with a condominium for starters. By owning a condo, a young buyer gets to enjoy the rewarding feeling of home ownership and has a chance to build a real estate asset with the potential for equity growth

You may have heard some recent buzz in regards to potential mortgage rate increases coming soon. As a matter of fact, we have actually seen some lenders increase rates for fixed mortgages being offered in market recently

Let me start by saying that I am Mortgage Advisor and not a Realtor, but it is very common for my clients to ask about home purchase related expenses when we sit down to plan a personalized mortgage solution. Many of these questions are related the various taxes that are applicable for a home purchase in Metro Vancouver

In the world of business ownership and side hustles, we seem to be engaging a lot more with individuals that are self-employed these days. Self-employed individuals face a different set of criteria when it comes to mortgage approvals. The applicant’s file usually goes through a stricter qualification review when compared to an applicant who is an employed by a company

Have you ever said that you would build your home differently if you had the proper opportunity to? Building a new home is a dreamy idea for many families and a chance to customize every aspect of the home to create the ideal living space. As you embark on this opportunity, one major component to plan will be a financing solution for the new home build and here’s where a construction mortgage can help turn that dreamy idea into a reality

Is your current mortgage plan your best financing solution for your lifestyle? Canadian mortgage rates continue to be at ultra-low levels recently and the potential to refinance might be a cost friendly move at these unprecedented low rates. If you have ever thought of refinancing your mortgage or accessing your home equity, this could be the time to take a closer look.

With mortgage interest rates holding at historic low levels, many local families have become comfortable with the idea of a 25-year mortgage plan as the monthly payment can potentially become one that can be managed with relative ease. However, for those that wish to be “Mortgage Free” sooner, I’d like to share five strategies to get you to that mortgage-free state earlier.

The new stress test rules coming into effect for June 1, 2021 will have an impact on homebuyers with both insured and uninsured mortgages. For those that may not know, a stress test is a “what if scenario” and in this case, it’s what if the interest rate were to increase by two percentage points?

The last half of year, we have seen consecutive month of year-over-year home sales growth along with escalating prices across the region. Until recently the inventory was low and driving up the competition an now we are starting to see more homes being listed as many new sellers try to cash in and be a part of this sizzling hot market.

What a year it’s been in the world of Real Estate and the Mortgage Industry. March 2021 marked the one-year anniversary of the Covid-19 pandemic and we have seen many new trends in the world of business. The one trend that not too many experts predicted was the BOOM in home sales

Setup your own TEAM for success

I’ve said it before that every successful person has a plan. That plan should be to form a TEAM in order to win you that next home bid in a competitive housing market. This team would include your trusted advisors.

Somebody once said that “every successful person has a plan” and for those wanting to save for a down payment toward their next home should most definitely should have a plan. In this article we will outline some of the points of the 50-30-20 budget rule that is an easy to follow guideline for those wanting to build that down payment amount or simply for those wanting to have a plan for their monthly family budgets.

The Year 2020 will be remembered for many concerning things. For many, not a year to remember and most folks I have talked to lately are happy and looking forward to the turn of the calendar and positive news in 2021. When it comes to the Metro Vancouver housing market and mortgage rates, many were actually caught off-guard with an increase in home prices and mortgage rates that are at historic lows and look to stay that way for the near future.

This is an opportunity for a homeowner to renegotiate their current mortgage plan and refinance at a new rate or new terms. There could be several benefits such as lowering your current monthly mortgage payment or to access the built up equity from your home for the betterment of your personal finances or home improvement projects. Generally speaking, a homeowner can potentially access up to 80% of their home’s appraised value.

Just like there are different types of apples, there are different types of mortgages in Canada.  When it comes to mortgage types, there may not be 7500 types like them apples however, there are nine different options we look at in this mortgage blog. Some are a little sour and some are sweet but all in all, there is a little something for many mortgage shoppers. Let’s take a closer look at what is the best type of mortgage to get in Canada

Buying a new home is an exciting time for many families.  The kids might be thinking of their new bedrooms while the parents are trying to balance their financial picture to get setup comfortably in their soon to be new setting.  I have seen many clients calculate the purchase price of their new home, mortgage rates and legal fees but at times overlook key expenses that make up the entire home buying picture.  Let’s look at some of these key home purchase expenses…

This is truly a special summer for finances during these pandemic times. There are many attractive offers from banks and lenders and if you are looking to apply for a loan product such as a mortgage, a car loan or even a new credit card, then I have some tips you should consider along the way.