26 Sep

Understanding Mortgage Trigger Points

General

Posted by: Jenni MacDonald

While inflation has now likely peaked, we will still be dealing with the repercussions from these heightened levels for a while before things balance out. As  inflation is corrected, we are also seeing home prices moving back to normal post-pandemic era. However, we are still anticipating some final rate hikes from the Bank of Canada […]

Read More
19 Sep

Have you Started to Use your Credit Cards to Cover your Living Expenses?

General

Posted by: Jenni MacDonald

Equifax released a recent report that shows Canadians are starting to use their credit cards to pay for groceries and fuel.  This trend indicates that people are using credit to cover their everyday living expenses because their income and savings are no longer enough.  I would caution you against increasing credit card debt since the […]

Read More
25 Jul

Purchase Plus Improvements Mortgage.

General

Posted by: Jenni MacDonald

When it comes to shopping for your perfect home, it can be hard to find the exact one ready to go! If you are looking into a home that requires improvements, there is a mortgage product known as Purchase Plus Improvements (PPI). This type of mortgage is available to assist buyers with making simple upgrades, […]

Read More
23 Jun

6 Reasons to use a Mortgage Broker instead of a Bank?

General

Posted by: Jenni MacDonald

For most people, it’s a habit to go to your bank to get a mortgage.  However, it’s not always your best option. I recommend going to a Mortgage Broker, obviously because I am one.  But let me give you six reasons why it’s probably a better option for you. Mortgage Brokers Study Mortgages.  That’s it! […]

Read More
22 Feb

Help for First Time Home Buyers

General

Posted by: Jenni MacDonald

The Cornwall and Area real estate market has been hot for over 10 months now and by the looks of the current trend, it will just get hotter for the spring market.  Prices are increasing at an unprecedented rate.  If you are getting ready to purchase your first home, there are some basic steps that […]

Read More
20 Dec

Refinancing Your Home

General

Posted by: Jenni MacDonald

The holidays are a very joyful time of year. However, it can also become an expensive time of year.  If you’re looking for extra funds to get you back on track, or to even help financially during these challenging COVID times.  Maybe a home refinance is right for you.  HOW MUCH CAN I GET? Whether […]

Read More
10 Nov

How to get the best Credit Score EVER!

General

Posted by: Jenni MacDonald

The Equifax Credit Score uses a numerical range of 280 to 900, where higher scores indicate lower credit risk.  Banks will want clients to be at a score of 700 or higher!!  While no one knows the exact formula (except the inventor, Fair Isaac Corporation), Beacon scores are roughly based on: Here are a few […]

Read More
19 Oct

Should I Declare Bankruptcy or File for a Consumer Proposal?

General

Posted by: Jenni MacDonald

Many people go through challenges in life that affect their finances.  Whether it’s divorce, job loss, health issues, or a worldwide pandemic, it can be difficult to get your finances sorted out and back on track.  Too often, people wait YEARS to confront their debts and are then overwhelmed and not sure where to go […]

Read More
17 Jun

Changes to the Stress Test and What You Need to Know

General

Posted by: Jenni MacDonald

As you may have heard, the Bank of Canada recently changed the stress test rules as of June 1, 2021. With these changes, now both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage. The new qualifying rate on uninsured mortgages – where the down payment […]

Read More