16 Jun

WHO REALLY SETS INTEREST RATES?

General

Posted by: Patti MacLennan

A recent article in the Huffington Post addressed the pricing strategy for the Big Six Banks, BMO, CIBC, National Bank, RBC, Scotia and TD and who really sets interest rates.  RBC announcing a rate drop in January and the other banks soon followed.  For consumers the banks are seen as leaders of the pack and […]

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14 Jun

5 REASONS TO CONSIDER BUYING A CONDOMINIUM APARTMENT OR TOWN HOME

General

Posted by: Patti MacLennan

14 JUN 2019 If you are thinking about purchasing a home in the near future, here are some reasons you may consider buying a condo apartment or town home. You should also be aware there are some cons as well. Pros They are relatively inexpensive. As your footprint is small and you share exterior walls with […]

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7 Jun

EHICH MORTGAGE LENDER IS BEST FOR YOU?

General

Posted by: Patti MacLennan

The following is a summary of the choices available for clients when looking at the four different types of lending groups. So what exactly is a lender? By simple definition, a mortgage lender provides financing for a real estate purchase hence the word lend. Which lender is best for you will all depend on who […]

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5 Jun

CREDIT CARDS FOR THE CREDIT CHALLENGED

General

Posted by: Patti MacLennan

If you want to buy a home and don’t have a bucket load of cash – you are going to need a mortgage. In order to get a mortgage, you are going to need credit… When you get a mortgage, banks lend you “their” money and secure the loan against the property you are buying.  […]

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4 Jun

BROKERS MAKE A DIFFERENCE

General

Posted by: Patti MacLennan

While many people will go to their bank to obtain a mortgage or line of credit, they often feel betrayed by their favourite bank if their application is rejected. One big advantage that we have over banks is that we can send underwriter notes along with the application. Our questions and speaking at length with […]

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29 May

6 WAYS TO GET A DOWN PAYMENT

General

Posted by: Patti MacLennan

When is it time to think about saving for a down payment? I would say about a year before you think about buying a home. While that’s ideal in today’s world, we often do not have much time to save for a down payment. Sometimes your landlord is planning on retiring and wants to sell […]

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23 May

WHAT IS A MORTGAGE BROKER?

General

Posted by: Patti MacLennan

You may have noticed that there are many different terms for those of us who work in the mortgage industry besides “broker”. Mortgage: specialist, expert, advisor, associate, officer, etc. I just want to clear up some potential confusion with all these monikers. There are 2 main categories that these fall in to. Those that work […]

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17 May

BUILD A PLAN TO MOVE INTO YOUR HOME

General

Posted by: Patti MacLennan

There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As a mortgage broker, here’s how I will help […]

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16 May

DO YOU UNDERSTAND THE B-20 GUIDELINES?

General

Posted by: Patti MacLennan

A new survey has emerged showing that out of 1,901 owners and would be homeowners, 43% (more than two out of five) Canadians are not confident in their knowledge of the mortgage stress tests—despite them being in place for more than a year now. We wanted to give you a brief set of notes regarding the guidelines. […]

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10 May

SOLE PROPRIETORS

General

Posted by: Patti MacLennan

Sole proprietors are individuals who run their own business and do not have it set up as a corporation or partnership. The biggest difference between them and a corporation is that a sole proprietor does not have separation between their business and themselves. This means that when taxes are filed, all costs that are essential […]

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