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The Mortgage Gal

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...

What's your best rate?

Jun 29, 2020 / 11:00 am

Often calls from new clients start with “I’m looking for help with a mortgage. What’s your best rate?” I’m pretty sure that I...

Mortgages as (almost) usual

Jun 22, 2020 / 11:00 am

When I wrote my last column, we had just learned that Canada Mortgage and Housing Corporation (CMHC) had announced changes to their policies. In a nutshell, the...

Mortgage rules tightening

Jun 8, 2020 / 11:00 am

Canada Mortgage and Housing Corporation (CMHC) has announced three significant changes to the way insured mortgage applications will be evaluated effective July...

Good time for pre-approval?

May 25, 2020 / 11:00 am

If you are laid off right now due to the virus, or maybe working from home with your life a bit upside down, looking into mortgage pre-approval might be the...

Interest in home-buying up

May 11, 2020 / 11:00 am

The mortgage world evolves daily, even during what we used to think were normal times. We are continuing to adapt the way we do business to protect everyone...

Still can get a mortgage

Apr 27, 2020 / 11:00 am

Trying to buy a home has changed a little over the last month. Depending on who you are working with, arranging your mortgage financing has changed very little....

Coping during a pandemic

Apr 13, 2020 / 1:00 pm

I hope you and your family were able to enjoy a quiet Easter weekend close to home, and that your loved ones are safe and accounted for. During the last few...

Mortgage-deferral pointers

Mar 30, 2020 / 11:00 am

Generally, by the time I sit down to write I know what I want to talk about. In between columns, I usually find a common theme – something jumps out at me...

The virus and your mortgage

Mar 16, 2020 / 11:00 am

The uncertainty of Covid-19 and its potential impact dominates many conversations. And grocery stores. Speculation as to how this pandemic will affect us and...

Mortgage stress test change

Mar 2, 2020 / 11:00 am

Effective April 6, 2020, we will be using a slightly different number to qualify borrowers who are purchasing or refinancing a home. The federal government is...

Not all stratas are equal

Feb 17, 2020 / 11:00 am

I talked about buying strata properties in a previous column. After a few recent escapades with condo purchases, I think I’d like to talk about it again....

Mortgage closing challenges

Feb 3, 2020 / 11:00 am

Sometimes we run into bumps at closing time. Even when clients are organized and take care of everything they need to, last-minute issues may arise that make...

Mortgage up for renewal?

Jan 20, 2020 / 11:00 am

An active spring mortgage market means that five years later there are many mortgages up for renewal. The majority of clients initially sign a five-year...

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