My Rates

6 Months 3.34%
1 Year 3.19%
2 Years 3.19%
3 Years 3.19%
4 Years 3.39%
5 Years 3.49%
7 Years 4.24%
10 Years 4.39%
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

Payment Frequency And Interest Costs - What You Can Save

There is a commonly held belief that that increasing the frequency of your mortgage payments pays your mortgage off significantly faster. For example, paying bi-weekly versus monthly will allow for much faster mortgage paydown. This all stems from confusion around the fact that there are two types of payments - regular and accelerated. Here are the definitions of the various payment frequencies and an example of the impact of payment frequency on interest costs. Payment Frequency Options Monthly - one payment per month; 12 payments per year Semi-Monthly - Monthly payment x 12 / 24 (or half the monthly payment); two payments per month; 24 payments per year Bi-Weekly - Monthly Payment x 12 / 26; payments every two weeks; 26 payments per year Accelerated Bi-Weekly - Monthly Payment x 13 / 26; payments every two weeks; 26 payments per year Weekly - Monthly Payment x 12 / 52; payments every week; 52 payments per year Accelerated Weekly - Monthly Payment x 13 / 52 payments every week; 52 payments per year Interest Savings By Payment Frequency Lets break out the total interest savings over 25 years for each payment frequency versus the base required monthly payment. This is for a mortgage of $300,000 amortized over 25 years at 4%. This is a bit simplistic because it does not take into account the varying terms and rates within the life of a mortgage, but it will still illustrate how much payment frequency drives interest savings. Monthly payment = $1578 ($173,420 interest paid over the life of the mortgage...GULP) Semi-Monthly payment = $789; interest savings $390 Bi-Weekly payment = $728; interest savings$420 Accelerated Bi-Weekly payment = $789; interest savings $24,550 and mortgage paid off 3 years 1 month early Weekly payment = $364; interest savings$605 Accelerated Weekly payment = $395; interest savings $24,820 and mortgage paid off 3 years 1 month early While there is a slight benefit to paying more frequently this is a very minor amount. The amount you pay extra, above your base mortgage amount, is what has the big impact. This can be done by setting your mortgage payments to be accelerated, or by using other pre-payment options such as lump sum payments or by calling to increase your payment. You shorten your mortgage and save significant interest costs by increasing your mortgage payments, not by paying more frequently. If you have goals for paying off your mortgage faster, lets come up with a plan! Small amounts over time add up to a big impact later.

Separation And Your Mortgage - The Matrimonial Home

As the largest asset in most relationships, the matrimonial home often becomes a major focal point in a separation. In turn, mortgages become a key part of separation discussions. Here are some common options for dealing with the matrimonial home in a separation: Sell This is definitely the simplest way of putting joint debts behind you by releasing all ownership and mortgage obligations. One Party Stays Mortgage Lender Releases Other Party If one person would like to stay in the home you can start by contacting your mortgage lender to get the other person released from the mortgage. They will generally confirm that the remaining person can handle the mortgage on their own. This only works if you do not need to pull equity out of the property to pay out the person leaving the home. You do not want to be removed from title until you are removed from the mortgage loan. You would still be responsible for the debt and any fallout from missed payments or default (including impact on your credit!) but have no ownership rights. One Party Stays - Refinance To Remove Other Party If you do need funds to pay out the party leaving or if your current mortgage lender will not release them from the mortgage loan, then you should consider a refinance. This is where the mortgage is fully restructured to take one person off the mortgage. This only works if you have significant equity in the property because refinances are limited to 80% of the current value of the home. The person who will keep the property needs to be able to qualify for the home on their own. One Party Stays - Spousal Buyout If one party would like to stay but you do not have 20% equity in your property for a refinance, there is still an option to buyout your spouse. This is an insurer program than not all banks use, so you want to speak to a mortgage broker about this option. One party can purchase from the other with the minimum required down payment (5% down payment on the first $500,000 of value and 10% down payment on any value above $500,000). It is treated as a new purchase so the amortization can be up to 25 years and there is no limitation on the type of term or product. Here are some conditions and features of a spousal buyout: The down payment can be equity in the house Valid for marital and common law separation, and some joint ownership situations Only available on the primary residence in the relationship (no investment properties) Both individuals must have been on title prior to the separation There must be a legal separation agreement in place The purchaser must still qualify based on income, credit, etc. An appraisal determines the sale price No realtor involvement Standard mortgage insurance premiums apply The current mortgage lender must allow it. Some value mortgages do not allow a private sale to a related party (ex. BMO Low-Rate Mortgage) The seller is now off the property title and off the mortgage, allowing them to move on to a new purchase if they choose. If you are going through a separation or know someone who is, I can provide information about the mortgage options available and help prepare you to qualify for the new financing you may require.


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