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My Rates

1 Year 2.44%
2 Years 2.14%
3 Years 2.34%
4 Years 2.54%
5 Years 2.59%
7 Years 3.24%
10 Years 3.79%
*Rates subject to change and OAC
AGENT LICENSE ID
M11002757
BROKERAGE LICENSE ID
10317
Corina Murphy Mortgage Broker

Corina Murphy

Mortgage Broker


Phone:
Address:
1179 King St W, Suite 210, Toronto, Ontario

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It PAYS to shop around.

Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

But I’m here to help!

I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.

I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.


BLOG / NEWS Updates

CORINA'S 6 MONTH TO A BETTER BUDGET

800x600 One of the challenges with proper budgeting Is that it has to become habitual in order to be effective. You can survive without knowing how to budget if you manage to keep more money coming in rather than going out or have credit cards to cover the gap, but this will not last forever. Emergency Fund The crux of this six-month plan is the emergency fund. Ideally, everyone should have at least one or two months wages sitting in a money market account for any unpleasant surprises. This emergency fund acts as a buffer as the rest of the budget is put in place, and should replace the use of credit cards for emergency situations. You will want to build your emergency fund as quickly as possible. The key is to build the fund at regular intervals, consistently devoting a certain percentage of each paycheck toward it and, if possible, putting in whatever you can spare on top. What's an Emergency? You should only use the emergency money for true emergencies: like when you drive to work but your muffler stays at home.Covering regular purchases like clothes and food do not count, even if you used your credit card to buy them. Downsize and Substitute Now that you have a buffer between you and more high-interest debt, it is time to start the process of downsizing. It’s odd that the natural solution to not enough money seems to be increasing income rather than decreasing spending, but this backwards approach is very familiar to debt counselors. The more space you can create between your expenses and your income, the more income you will have to pay down debt and invest. This can be a process of substitution as much as elimination. For example, if you buy coffee from a fancy coffee shop every morning, you could just as easily purchase a coffee maker with a grinder and make your own, saving more money over the long term. Focus on Rewards Another trick that will help your budget come together faster is to focus on the rewards. A mixture of long- and short-term goals will help keep you motivated. This can be as simple as saving for a small luxury, or even something bigger like buying a car with cash.Watching these goals slowly but surely become a reality can be very satisfying and provide further motivation to work harder at your budget. Find New Sources of Income Why is this not the first step? If you simply increase your income without a budget to handle the extra cash properly,the gains tend to slip through the cracks and vanish. Once you have your budget in place and have more money coming in than going out, you can start investing to create more income. Now, it is possible that it will take you more than six months to get your budget balanced out as it all depends on your situation, including how much or what kind of debt you have. But, even if it does take you longer than six months to get your budget turned around, it is time well spent. (Source:Investopedia.com) Normal 0 false false false EN-CA X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:"";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman","serif";}

CORINA'S 10 WORST FIRST-TIME HOMEBUYER MISTAKES

800x600 Are you gearing up to buy your first place? Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign. 1.Not Knowing What You Can Afford As we have all learned from the sub prime mortgage mess, what the banks says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. If you do not already have a budget, make a list of all your monthly expenses (excluding rent). Subtract this total from your take-home pay and you will know how much you can spend on your new home each month. 2.Skipping Mortgage Qualification What you think you can afford and what the bank is willing to lend you may not match up, so make sure to talk to your mortgage broker and get pre-approved for a loan before placing an offer on a home. Beware that even if you have been pre-approved for a mortgage, your loan can fall through at the last minute if you do something to alter your credit score, like finance a car purchase. 3.Failing to Consider Additional Expenses Once you are a homeowner, you will have additional expenses on top of your monthly payment. You will be responsible for paying property taxes, insuring your home against disasters and making any repairs the house needs. If you are purchasing a condo, you will have to pay maintenance costs monthly regardless of whether anything needs fixing because you will be part of a building strata. 4.Being Too Picky Go ahead and put everything you can think of on your new home wish list, but do not be so inflexible that you end up continuing to rent for significantly longer than you really want to. First-time home buyers often have to compromise on something because their funds are limited. 5.Lacking Vision Even if you can not afford to replace the hideous wallpaper in the bathroom now, it might be worth it to live with the ugliness for a while in exchange forgetting into a house you can afford. If the home meets your needs in terms of the big things that are difficult to change, such as location and size, don not let physical imperfections turn you away. 6.Being Swept Away Minor upgrades and cosmetic fixes are inexpensive tricks that are a sellers dream for playing on your emotions and eliciting a much higher price tag. If you are on a budget, look for homes whose full potential have yet to be realized. First-time home buyers should always look for a house they can add value to, as this ensures a bump in equity to help you up the property ladder. 7.Compromising on the Important Things Do not get a two-bedroom home when you know you are planning to have kids and will want three bedrooms. Do not make a compromise that will be a major strain. 8.Neglecting to Inspect Before you close on the sale, you need to know what kind of shape the house is in. You do not want to get stuck with a money pit or with the headache of performing a lot of unexpected repairs. 9.Not Choosing to Hire an Agent or Using the Seller's Agent Once you are seriously shopping for a home, do not walk into an open house without having an agent. Agents are held to the ethical rule that they must act in both the seller and the buyer parties' best interests. 10.Not Thinking About the Future It is impossible to perfectly predict the future of your chosen neighborhood, but paying attention to the information that is available to you now can help you avoid unpleasant surprises down the road. (Source: Globe Mail) Normal 0 false false false EN-CA X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:"";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman","serif";}

MY LENDERS

TD Bank Scotia Bank First National B2B Bank Home Trust
MCAP Merix Industrial Alliance Optimum Canadiana Financial
Equitable Bank ICICI Bank Fisgard Capital  RMG Mortgages Street Capital