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The Mortgage Gal

Mortgage rules changing

Apr 12, 2021 / 11:00 am

The Superintendent of Financial Institutions (OSFI) announced changes to mortgage qualification rules, on Thursday. The proposed change is set to come into...

Mortgage frenzy

Mar 29, 2021 / 11:00 am

Back in January, I shared my thoughts about the challenges that potential buyers are having trying to buy homes right now. I likened it to an episode of The...

Writing unconditional offers

Mar 15, 2021 / 11:00 am

Don’t. Just don’t. Have you heard stories about what happened when the Cabbage Patch dolls came out in 1976? People were fighting in stores trying...

COVID's emotional cost

Mar 1, 2021 / 11:00 am

COVID is catching up. I remember conversations from last March and April as we were trying to anticipate the implications and fallout from a world-wide...

Closing costs, then some

Feb 15, 2021 / 11:00 am

You’ve done your homework – saved your down payment, met with your mortgage broker and are pre-approved for a mortgage, connected with a reputable...

Lowest rate not always best

Feb 1, 2021 / 11:00 am

I take calls on a regular basis that start with the question “What’s your best rate?” My answer is never a quick one. Not all mortgage...

Buying new home is a race

Jan 18, 2021 / 11:00 am

Trying to buy a home in the Okanagan right now feels a bit like an episode of The Amazing Race. Ideally, when you're buying a home, you take your time...

New year, new mortgage

Jan 4, 2021 / 11:00 am

Happy New Year. With the start of each new year, it’s a great idea to spend a bit of time reviewing your financial situation. Set some financial goals...

The right mortgage team

Dec 21, 2020 / 11:00 am

f 2020 has taught me anything, it has taught me the value of relationships. This year has reinforced the importance of having the right people in my corner,...

Back to basics

Dec 7, 2020 / 11:00 am

Before you look at houses for sale, it’s a good idea to meet with your mortgage professional to determine how much you can borrow. This will help you...

The cost of owning a home

Nov 23, 2020 / 11:00 am

Two weeks ago, my tenant messaged me that there was water all over the floor in my suite. It took a few minutes to trace back the source of the leak. We ended...

Is it time to renovate?

Nov 9, 2020 / 11:00 am

During the past few months, I’ve noticed an increase in the number of clients looking to finance home improvements. A friend who is a general contractor...

Co-signing a mortgage

Oct 26, 2020 / 11:00 am

As mortgage qualification guidelines have tightened over the last few years, I have seen an increase in the number of people co-signing for family members, and...

How not to buy a home

Oct 12, 2020 / 11:00 am

There are a few dos and don’ts when you start down the road of buying a home. Over the last month and a half, I have been working with a great family...

Full-disclosure application

Sep 28, 2020 / 11:00 am

One thing I love about my work is that I learn something new every day. Some days, this is technical information about a specific mortgage product. Some...

Porting vs. new mortgage

Sep 14, 2020 / 11:00 am

Most people sign a five-year term when they buy a home. You have the option of choosing either a fixed or a variable rate for your mortgage. Many opt to take a...

Escalating penalties

Aug 31, 2020 / 11:00 am

One discussion I have with my clients upfront is whether they want to choose a fixed rate or a variable rate. Most of my clients opt for a fixed rate mortgage...

Stress Test dropping

Aug 17, 2020 / 11:00 am

This has been a busy week in the mortgage world. There were rumblings that the Stress Test was going to be reduced and Evan Siddall, head of Canada Mortgage and...

Time for a better rate?

Aug 3, 2020 / 11:00 am

Mortgage interest rates have continued to drop during the last few weeks. I’ve had many calls from clients wondering if it is worthwhile to break their...

Private sales can cost more

Jul 20, 2020 / 11:00 am

I work with clients who are trying to buy or sell a home privately. Sometimes this is because they feel it makes sense. For example, tenants are buying the home...

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