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. Shopping for a new mortgage can however be confusing, and some financial institutions don't make the process any easier.
That's where I come in!
As an independent Mortgage Advisor I work for my clients, NOT the lenders, providing
you with unbiased expertise and support throughout the process.
Each borrower is unique and the lending options will be tailored to reflect your individual circumstances and financial goals. It’s never been easier or more convenient. With access to 40+ lenders and Financial Institutions across Canada and the ability to work with you in person, online or by phone, I am committed to making the process simple and efficient!
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’ll help you get the right financing, from the right lender, at the right rate.
Contact me today for a free consultation!
5 Mortgage Tips
1. Take a Look at Variable Rate Mortgages.
These are a great option again as the Bank of Canada has held their key lending rate low and there is continued downward pressure on rates in general.
2. Mortgage Renewals - it pays to shop around.
An estimated (and shocking) 60% of people renew their mortgages without doing their homework and end up paying more than they should. Mortgage renewals offer an opportunity to save thousands of dollars over the life of your mortgage. A mortgage broker will help you navigate this process and were paid by the lender so our services are free. Contact me 3-6 months before your mortgage is due (if possible) and Ill do the research with our 50+ lenders to maximize your savings.
3. Know youre score!
When applying for a mortgage, one of the key indicators of credit-worthiness is a good credit score. Your score is determined by looking at your current financial picture as well as your history; number of credit cards/loans and their current balance, repayment history, even seemingly insignificant items like unpaid parking tickets and fines will have an impact. Equifax has recently also started including phone companies on credit reports. Call me if youre interested in knowing your credit score.
4. Consolidate High Interest Debt...
If you are carrying high-interest consumer and household debt you should consider rolling this debt into your mortgage; allowing you to benefit from much lower interest rates. This process is not as complicated as you might think and can offer you great savings.
5. Paying it down will Pay Dividends!
Take advantage of prepayment privileges or switch to weekly or bi-weekly payments; increased payment frequency and additional dollars paid directly toward principal can significantly reduce the interest you pay over the life of the mortgage.
Interesting Article on interest rates and inflation from the Globe and Mail...
The bank gave no signal on future interest rate moves as it kept its key overnight rate unchanged at 1 per cent, where it has been since September, 2010, and maintained its official neutral stance on the direction of its next move. But the banks language about inflation and currency caused the loonie to drop sharply. Read the entire article by following the link below: http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-warns-disinflation-to-persist-well-into-2016/article16444689/
Vancouver Most Expensive City To Live In North America: The Economist
Vancouver now holds the dubious title of most expensive city in North America to live in, ahead of New York and Los Angeles, according to rankings by The Economist.The annual EIU Worldwide Cost of Living Survey that came out this week ranked Vancouver 21st internationally. That's a jump of 16 spots up from its last ranking of 37th. Read the entire article by following the link below: http://www.huffingtonpost.ca/2013/02/06/vancouver-most-expensive-city-to-live-economist_n_2631806.html