We are delighted to announce the launch of our new website!

Our new website provides our existing and prospective clients with a simple yet interactive view of our work and the services that we offer.

A mortgage broker can help you avoid many of the pitfalls commonly encountered during the home buying process, it's still important to be informed even before you start looking for that perfect home.

1. Check your credit report before you apply for a mortgage - Equifax
2. Lowest rate is not always the best rate for you
3. Minimum of 5% of the purchase price, over a purchase price of $500.000 it is 5% on the 1st $500,000 and 10% on the balance of the purchase price
4. Set a budget for yourself: legals fees, home inspection fees, condo fees
5. Rate shopping, don't!  Let your broker pull one bureau and find the best mortgage for you

New Website Coming Soon!

We are currently revamping our website. Our new website will be interactive and mobile friendly!

The Office of the Superintendent of Financial Services (OFSI) announced earlier this month it will be increasing its supervisory efforts for residential mortgage underwriting - specifically focusing on Guideline B-20, which it also announced potential changes to.

Changes include:

uninsured mortgages requiring a qualifying stress test

LTV, loan to value measurements remain strong and adjust for local market conditions where they are used as a risk control, such as for qualifying borrowers

prohibiting co-lending arrangements that re designed or appear to be designed to circumvent regulatory requirements

Many brokers would argue that not enough time has been given to see how the impact of those changes from last summer have been.

Hard to say the impact of these changes if and when they come to pass, but keep an eye out....

Further interest rate rises may or may not be on the cards in 2017 with no expert consensus as yet. Following the increase on July 12, Bank of Canada governor Stephen Poloz said that further rates would depend on data. The latest retail figures, released by StatsCan last week along with rising inflation have some calling for another rate rise before 2017 ends. TD Securities' Fred Demers told Bloomberg that an interest rate hike in October 'is a very likely scenario," while Benjamin Reitzes of BMO Capital Markets added: "October is still a very reasonable call for the bank." CIBC economist Avery Shenfeld is…

After 7+ years of ultra low rates

This is something that has been a long time coming.  There is a huge overhang of central bank debt around the world that now must be unwound. It will not be without pain. The following are a few articles on the subject that we hope will hep shed some light on what is happening and on what you can expect.

How The Bank of Canada rate hike will affect borrowers

Bank of Canada raisers interest rate for first time in 7 years

Urban design tourism, its becoming popular.  Many cities around the world are investing billions in wacky new architecture and Calgary is just one of many cities on joining the band wagon.

Currently we have two major projects in progress, The Telus Sky project and the new Central Library.  These international designs join a host of other major projects since 2000.

Take a Walk and check it out...

 

 

Did you know that U-Haul releases an annual report which details the previous year's highest growth markets? The cities are calculated by the net gain of arriving one-way U-Haul trucks over departing one-way U-Haul trucks for a calendar year. The data is compiled from more than...

You're thinking about buying a home, which means you'll most likely be in the market for a mortgage. As with any large financial transaction, there is a lot of paperwork involved. Below is a list of the standard documentation you'll need to provide.

You’ve bought new home and there are a million things swirling in your mind to prepare as the closing day countdown ticks away. The normal hassles of changing your mailing address, canceling utilities and setting them up at the new place.

Part I - Hiking Rates

For the third time in four years, the Canada Mortgage and Housing Corporation (CMHC) recently announced it will again increase mortgage insurance premiums, which would average an additional $5 per month ($60/year) for the typical insured mortgage.

In July 2016, BC's government unexpectedly mandated a 15% tax on any foreign national buying real estate in Metro Vancouver. This maneuver was to put a major speed bump on the steady flow of offshore money (mainly Chinese), streaming into the province, which bore the brunt of the blame for Vancouver's record high real estate last year.

As we enter into 2017, we take a look back at major headlines in 2016 and projections for what might lay ahead for Canadians in the next 12 months.

New Mortgage Rules

Last October, Canada's Federal Finance Minister made an announcement that would affect those trying to qualify for a mortgage as of November 30, 2016. In the past, borrower's could qualify for a mortgage based on discounted rates.

A mortgage is a considerable financial investment for anyone. It is likely one of the biggest investments an individual will make in their lifetime and there are many aspects to consider to ensure that your type of mortgage is the right one for you.

If you've ever thought about trying to make more money, the idea of making an investment has probably crossed your mind. Perhaps you've thought about getting into real estate, as investing in property could potentially offer the perfect opportunity to expand your income.

No matter what kind of home you live in, it's probably safe to assume that you want it to be as close to your taste as possible, which is often more difficult than it sounds.

For anyone who wants to earn a little extra money on the side, real estate can offer the perfect opportunity. No matter what level of experience you have in this area, chances are you can make a decent side profit from real estate.

When it comes to securing a mortgage, it can be a tricky process. Anyone who has ever gone through it will know that there is a huge amount to take into consideration. Getting a decent mortgage is, for the most part, a process of figuring out every detail as fully as possible.

For potential homeowners, arranging to pay the deposit is only half the battle. Then, they need to think about the different types of mortgage and what’s best for their specific buying situation.

Make sure to come in and speak with one of our Mortgage Experts about how the new changes might impact you!