My Rates

6 Months 3.34%
1 Year 3.29%
2 Years 3.09%
3 Years 3.19%
4 Years 3.19%
5 Years 2.94%
7 Years 3.09%
10 Years 3.54%
6 Months Open 6.70%
1 Year Open 4.45%
*Rates subject to change and OAC
Michelle Lapierre Mortgage Associate

Michelle Lapierre

Mortgage Associate

213, 4935 55 Ave. NW, Edmonton, Alberta









Home ownership is one of the most important and complex decisions you will ever make.  The key to making the right decision is to fully understand your financing options.  My role is to be your unbiased and expert advisor.  I will provide you with access to the best mortgage solutions in the industry.  This means the most competitive rates and terms that fit your specific needs and long term goals. 


My services are free and can provide you with a positive, stress free experience so you can focus on the bigger picture - finding your dream home and achieving financial security.


Let's start the conversation today!

Thinking about purchasing a home?  Is your mortgage renewal coming up?  Need to refinance?  I can find a solution for you.

BLOG / NEWS Updates

Reverse Mortgages - The Most Misunderstood Mortgage Product - Forget What You Think You Know

If you are retired or have aging parents, you need to read this newsletter. Before I became a Broker, I flinched at the term reverse mortgage. Like so many Canadians, much of what I knew about them came from US news and advertisements. These products in the US are completely different than here. In Canada, reverse mortgages are governed far more tightly. In fact, only two banks offer them in Canada and the industry leader has been selling them for over 30 years. The more I have learned about reverse mortgages, the more I see them as a key tool for some seniors and their families. Lets break down some of the most commonly held misconceptions. In my January newsletter I will break out how these mortgages can be used to help mature Canadians stay in their home longer, maintain financial independence, and meet other personal goals. What Is A Reverse Mortgage? A reverse mortgage is a way for Canadian howeowners 55 or older to access up to 55% of the value of their home without the standard credit or income qualifying requirements. The amount of equity you can pull out is dependent on your age, property type, and property location. It is a loan secured against the value of the home, but unlike a traditional home equity line of credit or conventional mortgage, there are no monthly mortgage payments for as long as you live in your home. The interest owing is added to the loan amount and paid out when you sell or move out. Reverse Mortgage Myths MYTH #1 - I will lose ownership of my home. Just like any other mortgage, the home is used to secure the loan. The mortgage lender is registered as a standard charge on the title in first position. The homeowner maintains title ownership and control of their home. MYTH #2 - I will owe more money than the house is worth. 99% of clients have equity remaining in the home after the loan is repaid. In the rare event that the home depreciates in value and the loan amount due is more than the sale amount of the property, the lender would cover the difference between the sale price and the loan amount. It is a non-recourse loan. You would never be forced to sell if the amount owing exceeded the value or asked to pay the difference. MYTH #3 - The bank can force me to sell or can foreclose at any time. A reverse mortgage is a lifetime product, and as long as the property taxes and insurance are in good standing, the property remains in good condition, and the homeowner is still living in the home, the loan will not be called even if the house decreases in value. MYTH #4 - Surviving spouses are stuck paying the loan after the homeowner passes away. If a homeowner passes away, as long as their surviving spouse is on title to the property, they can choose to remain in the home without having to make a repayment. The loan is due when both applicants move out or the property is sold. MYTH #5 - I cant get a reverse mortgage if I already have an existing mortgage. A reverse mortgage can be used for a purchase, for debt consolidation, to pull equity out in a lump sum or in the form of a tax-free monthly income, or to restructure a current mortgage to eliminate monthly payments. MYTH #6 - Reverse Mortgages are very expensive with high rates so they should only be used as a last resort. The rates offered are generally more favourable than alternative lenders rates, as well as those on second mortgages or unsecured loans. They are generally priced slightly higher than a HELOC (Home Equity Line of Credit). But they also have the added benefit of no required monthly payment. This can be a key feature for those trying to live on a fixed pension income or stretch out retirement savings, and well worth the slightly higher rate. Contact me if you have more questions or would like to explore whether a reverse mortgage may be a fit for you or a loved one.

Managing A Mortgage In Retirement - A New Canadian Reality

More and more Canadians are hitting retirement with a mortgage or other debts. While some choose to take a mortgage while their investments make them more return; for many it is simply a necessity. The flexibility to have mortgage freedom should still be the focus and goal of all homeowners. But what if that milestone is fast approaching and you just cant get there? Or, you are past retirement, you do have debts, and you are struggling on a pension income? According to Statistics Canada, 34% of retired people over 55 are still carrying debt. Equifaxs most recent quarterly report in September noted the highest delinquency rate increase was for Canadians over 65 at 7.13%. The new reality for many Canadians changes the conversation from you must pay your mortgage and debt off to how can I work these into my new retirement cashflow and budget. So, what are your options? There are a number of ways retirees can balance their budget while still carrying debt. Focus on Monthly Cashflow vs. Mortgage Payoff If a mortgage cant be paid off prior to retirement, the goal changes from mortgage freedom to the ability to manage your housing costs on a new lower income. Making sure your monthly expenses do not exceed your monthly income becomes the focus. Here is an example: Jan is within a year of retirement. A divorce 5 years ago set her finances back and she will be retiring with 10 years left on her $80,000 mortgage. Her monthly payment is currently $770. She has a small amount of savings but only wants to use that for unexpected costs. She manages the mortgage and other housing costs without a problem on her current income, but with her new pension income it will be difficult. Keep Mortgage As-Is: $1915 monthly income ($915 Old Age Security and $1000 Canadian Pension Plan) -$770 mortgage payment =$1145 monthly to pay everything else Thats 40% of her pension income used up on just her mortgage payment! Refinance - Amortize $80,000 at 2.89% over 25 years: $1915 monthly income -$375 mortgage payment =$1540 monthly to pay everything else This leaves Jan with $395 more per month! Other Retirement Strategies In addition to restructuring your current mortgage, you may also consider these options: Refinance - Paying off high interest debt or debt with high monthly payments (ex. vehicle loan) into a lower monthly mortgage payment. Downsize- Does moving to a smaller or lower cost property improve your financial sustainability? Home Equity Line Of Credit (HELOC) - even if you are mortgage free, set this up now so you have a way to access your equity if you need it for emergencies or to pay for a downsize once you retire. Reverse Mortgage - people have an adverse reaction to these in Canada because of far inferior products sold in the U.S. Our reverse mortgages in Canada have the necessary consumer safeguards in place. They are an important option for someone in the later years of retirement where they often hold high equity in a property, need to access it to survive financially, cant qualify or manage the payment on a standard mortgage, and selling or moving is not a viable option. I have taken specific training in this product, and while it is not a fit for everyone, it can be life changing for those that are. Mortgage Planning - Ideally BEFORE Retirement If retirement is in your near future (1-5 years) you should be talking to me now. If you are heading into retirement with a mortgage, have a mortgage professional look at your cashflow and your mortgage options BEFORE you are on reduced income. Mortgages have become more and more difficult to qualify for and you may not qualify for what you need once you are on a lower income. Planning ahead while you are still on your pre-retirement income can be much easier and give you access to more mortgage products. If you are already retired there are still options. Yes, you can qualify for a mortgage in retirement! It just may be a much lower amount. Contact me to see how a mortgage can be incorporated into your retirement plan.


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