The Mortgage Gal

Collateral mortgage

Sep 28, 2015 / 5:00 am

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

Sep 14, 2015 / 5:00 am

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...

Reverse mortgages

Aug 17, 2015 / 5:00 am

Do you know there is only one reverse mortgage provider in all of Canada? Do you know they became a schedule one bank in late 2009? Do you know how much the...

Mortgage policy changes?

Aug 3, 2015 / 5:00 am

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the...

Income from home equity

Jul 20, 2015 / 12:00 am

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...

Increase property value

Jul 6, 2015 / 5:00 am

Here are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five...

Renovation dreaming

Jun 22, 2015 / 5:00 am

Dreaming of a new fire pit? A deep soaker tub? With summer on its way, lots of families have renovations on their minds. Did you know that home buyers can apply...

Mortgage costs

Jun 8, 2015 / 5:00 am

I always like to spend time with my clients going through the costs associated with the purchasing or a property in addition to the downpayment. For this...

Cash stressed seniors

May 25, 2015 / 5:00 am

For many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the...

Mortgage penalties

May 11, 2015 / 5:00 am

Most mortgages in Canada have penalties based on the greater of 3 months of interest or the interest rate differential. Variable rate mortgages where the...

Buy versus rent

Apr 27, 2015 / 5:00 am

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer...

Reverse mortgage solution

Apr 13, 2015 / 5:00 am

With the housing and financial markets on solid footing, some retired Canadians may consider cashing in their growing assets to enjoy vacations and major home...

Down payment

Mar 30, 2015 / 5:00 am

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no...

Pre-approved for mortgage?

Mar 16, 2015 / 5:00 am

There seems to be a lot of confusion around the term pre-approval when it comes to mortgage pre-approvals. Pre-approvals can range from a client giving a lender...

Refinance your mortgage?

Mar 2, 2015 / 5:00 am

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which...

What will Bank of Canada do next?

Feb 16, 2015 / 5:00 am

One of the big questions facing the markets right now is what the Bank of Canada will do next. One economist believes it will continue to cut. In a new forecast...

Expect record low rates for spring

Feb 2, 2015 / 5:00 am

The Bank of Canada made an unpredicted move by cutting its overnight rate from 1% to 0.75% on January 21. This is the rate that the Big Banks pay for interest...

Beware of mortgage insurance!

Jan 19, 2015 / 5:00 am

Congratulations! You have the house of your dreams since the vendor accepted your offer and the bank approved your mortgage. What a bank will typically offer...

Goal setting keeps resolutions on track

Jan 5, 2015 / 5:00 am

January is a popular time of year to set resolutions for physical fitness, personal finance or new career directions. But with the admission of failed...

First-time homebuyer mistakes

Dec 22, 2014 / 5:00 am

If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying...