Since the inception of mortgage rule changes introduced by the Federal Liberals in 2017, there’s been a reversal in the consumer market place for mortgage shoppers. The once stable, income earner with their a home of their and a strong equity position now find themselves disadvantaged when compared with the preferred mortgage rates and Stress Test treatment by afforded to borrowers in need of a high ratio (insured) mortgage, typically first-time home buyers with less than a 20 percent down payment.
Category Archives: Uncategorized
“Is my mortgage portable?” The answer is probably yes.
“Is it easy to port my mortgage?” The answer is probably not.
The July 2019 issue of my monthly mortgage newsletter is now available online!
This month’s edition offers 5 tips to affording a home, including the importance of a home inspection. I would love to hear from you if you have any questions or feedback.
So you’ve seen a home? It looks good. It meets your criteria and now you’re ready make an offer. But wait! Your Realtor has just let you know somebody else wants to buy the same home too. The question now is, should you make a firm or conditional offer?