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.
Canadian employment up in October; unemployment rate dips
Canadian employment surged by 44,000 in October 2015, which was above mar- ket expectations for a 10,000 increase although with much of the gain appearing to be the result of temporary hiring for the October 19, 2015 federal government election.
The October gain built on 12,000 increases in both August and Septem- ber. 35,000 of the increase in September were in part-time positions with full- time employment up 9,000. Public employment rose by 31,000, although private employment jumped by 41,000, with the offset from a 27,000 drop in self- employment in the month.
The unemployment rate dipped to 7.0% after rising to 7.1% in September from 7.0% in August. The dip in October was despite a rise in the labour force, with the participation rate increasing to 66.0% from 65.9% in September. Hourly wages for permanent employees rose by 2.8% from a year ago, which was unchanged from Septembers pace.
What is Mortgage Loan Insurance?
Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20%of the purchase price. Mortgage loan insurance helps protect lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment of 5%with interest rates comparable to those with a 20%down payment.
To obtain mortgage loan insurance, lenders pay aninsurance premium. The premium payable is based on a percentage of the homes purchase price that is financed by a mortgage. The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments.
Mortgage loan insurance is not to be confused with mortgage life insurance which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.
If have less than 20% downpayment but want to get on the property ladder - Talk to me! I can help you source the best mortgage financing that fits your needs.