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Does a 90% Monthly Rate of Return Interest You?

Does a 90% Monthly Rate of Return Interest You?

If you are considering an Open Mortgage or are currently carrying a significant balance on a secured line of credit this post will be of value to you. Interest only payments are great from a cash-flow perspective, but perhaps there is more to consider, read on. Short...
If You Build it, They Will Come… to Finance it.  Maybe…

If You Build it, They Will Come… to Finance it. Maybe…

If you build it, they will come… and finance it.  Maybe. Construction Financing – These Files are Not all Built the Same. Unless you build something that is perhaps less ‘marketable’ than what is conventionally found in the neighbourhood. Thinking...
Portability, of course your mortgage is portable…or is it?

Portability, of course your mortgage is portable…or is it?

Short Version Asking whether ones mortgage is portable or not is not the right (complete) question. Confirming that one is able to qualify to port their mortgage to a new property is the key question. Speak to your Broker in detail about your plans, and assume...

Cash Back Mortgages – There is no Free Lunch

Full disclosure, there is a bias within the following words.  I have tried for a few weeks to create more balance within this post, but in the face of effective interest rates of 53.38% (read on), it was exceedingly difficult to find significant strength in the...

Buyer Beware the ‘lowest’ Rate in “Mortgage Wars”

Re-posting and edited from a piece written for www.rew.ca Short Version; Yes, a certain lender or Broker may offer a rate .05% lower than another.  But what is the true cost? The client may save $4.31 per month per 100K of Mortgage balance. ($250.20 over 5 years) but...
Moving Up, Sideways, and Downsizing – Ten Costs to Consider

Moving Up, Sideways, and Downsizing – Ten Costs to Consider

Short Version Purchasing a Property should be a calculated move, lacking in surprises. 1. Speak to you Mortgage Broker ask if you ‘Qualify to Port your mortgage’. It is not well known that although the mortgage may be ‘portable’ both the...
Your Real Estate Deposit held ‘In Trust’

Your Real Estate Deposit held ‘In Trust’

Your Real Estate Deposit held ‘In Trust’. We recently had a client enter into a Contract of Purchase and Sale, with the standard subject clauses. The purchase price was $450,000, our the buyers were considered first-time buyers, hoping for 95% financing....
You have more power than you believe!  Mortgage Renewal.

You have more power than you believe! Mortgage Renewal.

The (quietly) raging battle behind the scenes over your Mortgage Renewal – things to know & understand. As you approach your mortgage renewal date, there is often a letter or a call from your current lender that arrives up to 6 months in advance of the...
1.99% eh?  What is the Real Story?

1.99% eh? What is the Real Story?

1.99% eh?  What is the Real Story? Much video has been created and ink spilled on this topic.  Here is a Summary. Short Version; 99.9% of clients should not consider entering into this mortgage. We will not be applying to place any of our personal properties into this...