I am a one stop shop for all needs regarding Residential Mortgages. Preapprovals, purchases, refinancing, etc. I have access to multiple lenders to help you obtain the best mortgage product to fit YOUR needs. I work for you, not the banks!
Home Ownership… It is one of the most important and complex decisions you will ever make. They key to making the right decision is to know and truly understand your financing options. Our role is to be your unbiased and expert advisor thus ensuring you have 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.
As home buyers, you must be able to trust and have confidence that your best interests are being looked after. You need a dedicated Edmonton mortgage broker professional who will find the best mortgage product on the market for you and negotiate with lenders on your behalf.
With access to over 300 mortgage products to choose from – not just one suite of products at one bank, we will analyze which mortgage product will suit your specific needs. Create a plan for saving you the largest amount of interest over the term of your mortgage. We offer the most competitive mortgage rates in Edmonton.
Whether you are looking to purchase a home, renew a mortgage or implement a refinancing strategy, I am committed to communicating with you every step of the way and smoothly and expediently guiding you through the process. As your mortgage broker Edmonton, our goal is to provide you with a positive, stress-free experience so you can focus on the bigger picture – finding your dream home and achieving financial security.
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At what point is a REALLY low rate, REALLY too good to be true?
When people hear 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞, their next thought is typically 𝐫𝐚𝐭𝐞. So lets talk rate for a minute. Rates today are definitely low. But at what point is a 𝑹𝑬𝑨𝑳𝑳𝒀 low rate, 𝑹𝑬𝑨𝑳𝑳𝒀 too good to be true? Would you pick a limiting, hand tying, option less product if it meant getting a rate of 2.44% vs 2.59%? Make sure that you understand the full terms and conditions of a product before just selecting the lowest rate advertised. Lets break this down
Some of the low rate products advertised have hidden clauses such as:
↠ 𝐀 𝐛𝐨𝐧𝐚𝐟𝐢𝐝𝐞 𝐬𝐚𝐥𝐞𝐬 𝐜𝐥𝐚𝐮𝐬𝐞 this means that you cannot pay off the mortgage without a firm sale. If you want to refinance the property to pull out equity, transfer the mortgage to a different lender at maturity for a lower rate, etc. you cannot. The only time you can get out of this mortgage with this lender is when you sell the home.
↠ 𝐀 𝐡𝐢𝐠𝐡𝐞𝐫 𝐩𝐚𝐲𝐨𝐮𝐭 𝐩𝐞𝐧𝐚𝐥𝐭𝐲 some lenders will offer a low rate mortgage because they then charge a higher payout penalty than normal. This can result in thousands of dollars of extra cost when you only save .05% of an interest rate.
↠ 𝐍𝐨 𝐩𝐨𝐫𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 porting a mortgage means selling the home that you have an existing mortgage on, picking up the financing, and placing it on another property. This is typically offered with most mainstream products, but may not be an option with a low rate product.
In the mortgage world, these low rate but limiting products are what we like to call no frills products. They may be appropriate for some, but please make sure that you understand all of the terms conditions applicable to your mortgage before signing! If you arent sure, reach out to a professional to have them go over it with you.
Questions? Im always available to answer them.
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Canada: Residential sales reached a new record in September
Seasonally adjusted home sales rose 0.9% in September to a monthly record of 56,422 units. Sales in Ontario missed Augusts record by a hair due to a 5.3% monthly decline in Toronto. Records were nonetheless registered in Ottawa and Hamilton. In the Province of Quebec, sales were at a record level in the Quebec CMA and in Gatineau, and close to August records in Montreal. In B.C., transactions reached a record outside the three main markets of Vancouver, Fraser Valley and Victoria. There were also sales records in Nova Scotia and New Brunswick. The active-listings-to-sales ratio indicates that the Canadian home resale market was favorable to sellers in Ontario Quebec, the Maritimes Provinces and marginally so in B.C. The market was balanced in the four other provinces.
PROMISES, PROMISES AND MORE PROMISES
Canadas Parliament re-convened today with a ceremonial Speech from the Throne delivered by the Governor General.
Canadas continued response to the COVID-19 pandemic took centre-stage, while providing a lens for a plethora of broader promises: an extension of the wage subsidy, expanded employment insurance, investments in childcare, reaffirmed commitments to universal pharmacare, and green infrastructure investments among many others.
Given the exhaustive list of priorities, this Speech is unlikely to bring the minority government down as it provides plenty of hooks for negotiations in the lead-up to a Fall update where details will be laid out.
It clearly signals more fiscal spending ahead for Canada leaving the question not if but how much. But this was largely channeled ahead, so the market reaction has been mutedor more likely, it is eclipsed by broader US and global developments.
There is little beyond lip service by way of fiscal restraint. This will be left to the Finance Minister to make inevitable trade-offs in her first budget this Fall, particularly as she may need to reserve some firepower for second waves.
Source: Scotiabank https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.fiscal-policy.fiscal-pulse.federal.federal-budget-analysis.federal-throne-speech--september-23--2020-.html