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The Mortgage Gal

Stress test hasn't changed

Stress test hasn't changed

Jul 19, 2021 / 11:00 am

Canada Mortgage and Housing Corporation (CMHC) recently reversed a policy decision implemented in July 2020. We’ve had a flood of calls asking if this...

Risky subject-free offers

Risky subject-free offers

Jul 5, 2021 / 11:00 am

When you start down the road of buying a home there are many new and unfamiliar terms you may hear. Arguably, some of the most important things you need to...

No isn't always no

No isn't always no

Jun 21, 2021 / 11:00 am

Over the last few weeks I’ve had a few (pleasant) surprises with files I’ve been working on. When I take new applications from clients, I ask for...

Real-estate craziness

Real-estate craziness

Jun 7, 2021 / 11:00 am

I’ve been doing a lot of thinking lately about the benefits of home ownership. Recent events have driven home the importance of family, stability, and...

Mortgage rules tightening

Mortgage rules tightening

May 24, 2021 / 11:00 am

During the last few weeks, we have been waiting for an announcement regarding the mortgage stress test rate. That announcement came last week. Effective June 1,...

New mortgage or refinance?

New mortgage or refinance?

May 10, 2021 / 11:23 am

After the last few months of craziness in the housing market, I’m hearing from clients reevaluating whether they still want to upgrade to a newer or...

Mortgages going sideways

Mortgages going sideways

Apr 26, 2021 / 11:11 am

This morning, on one of our broker forums, I read a question from another broker. He asked which lender would be able to finalize a mortgage for April 30 if he...

Mortgage rules changing

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

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

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

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

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

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

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

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

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

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

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?

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

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...

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