The Mortgage Gal
Grow-op nightmares
Buying a former Grow Op Property and Financing I often get asked about the possibility of buying a home that was a marijuana grow operation or grow op for...
What is in a Beacon Score?
The beacon score is a very important part of the mortgage application process. Your Equifax Beacon Score tells lenders how much of a risk you are by your past...
Five c's of credit
Ever wondered how the financial institution or mortgage broker determines if you qualify for a mortgage? There are five key elements that most lenders use....
Divorce in retirement
Are you a divorced retiree? Financial settlements from a divorce can have a big impact on your security. The concern doubles when a marriage comes to an end...
I wanna buy a house
What will I need to get a mortgage? I often get asked what to bring to a mortgage appointment, and I usually tell my clients to bring a list of assets,...
Often missed finance tool
The pop and sizzle of New Year’s Eve is a distant memory now, and many well-intentioned New Year’s resolutions have probably fallen by the wayside....
Property Transfer Tax
On February 16th, the Liberal Government announced changes to the Property Transfer Tax. The two major changes: • Exemption for new homes up to a purchase...
Reverse mortgages
While reverse mortgages have had a bad reputation based on old programs or those offered in the United States, you might be surprised to learn how much they...
Don't renew that mortgage!
Don’t renew that mortgage . . . until you’ve learned about the following. Is your mortgage coming due in the next few months? When your mortgage is...
Broker commissions
Mortgage broker commissions On January 18th I did an interview on CBC Radio Kelowna regarding the FICOM proposal for more disclosure on the Form 10 used by...
Do new rules affect you?
New downpayment rules If buying a home is on your list of to dos for 2016, then you may be affected by the new downpayment requirement rules announced by...
Money 2016: Taking control
With talk about the climbing real estate prices, a recovering global economy keeping investment analysts cautious, and the decline in oil prices, it is...
No-stress celebration ahead
Welcome to your five-step guide to turn holiday chaos into stress-free celebration: The kids are off from school, family and work obligations are competing for...
First-time home buyer?
Your RRSP may be the down payment you’re looking for Thinking about buying your first home? Wish you had saved up for a good down payment? Maybe you...
Fixed or variable-rate?
“Wow!” you say to your spouse as you hit the brakes on the car. “Did you see the mortgage rate those guys are advertising?” Your...
The reverse mortgage
For many seniors, their family home is a place of fond memories, as well as their biggest nest egg. Coupled with a familiar neighbourhood, neighbours and...
Renovations for rebates
Continuing with the renovation theme from last week, Fortis and Hydro have teamed up to provide a variety of rebates and offers. There are a couple of...
Perfect (reno'd) home
How many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through...
Collateral mortgage
Most of the time I recommend that my clients not take a collateral type mortgage product, as it locks you in with the current lender and at maturity the...
Turn home equity to income
When retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this...