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Posted by: Jenni MacDonald
YOUR CREDIT SCORE IS YOUR POWER WHEN APPLYING FOR A MORTGAGE With all the recent mortgage changes, your credit score is more important than ever. Most Lenders rely on the “Equifax” score. Equifax calculates a credit “risk” score out of a maximum score of 900. A score of 700 or higher is considered an excellent […]
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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. Whether you are getting ready to purchase your first home or considering selling your current house […]
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If you are purchasing a personal home or a duplex that you are going to live in, you will need a down payment of at least 5% of the purchase price. Triplex and fourplex properties (in which you will live), requires at least 10% of the purchase price for the down payment. A property with […]
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Refinancing/Switching/Transferring Your Mortgage With housing prices increasing and mortgage rates dropping to record lows, right now may be the best time to change your mortgage. HOW MUCH CAN I GET WITH A REFINANCE? Current mortgage rules allow a maximum amount of up to 80% of the appraised value to be available for a refinance. […]
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On June 4, 2020, CMHC announced that they were tightening the underwriting policies for insured mortgages. This means that if you have less than 20% down payment on the purchase of a new home, the rules will make it harder to qualify and you will qualify for less financing than before July 1, 2020. The […]
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Going to your Bank is a hard habit to break. We are used to going to our bank for all things mortgage, but is this really the best option when you are searching for a mortgage during the COVID-19 restrictions? Here are some reasons that my clients would recommend using the services of a Mortgage […]
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A refinance can help! This is a challenging time for many of us. But help is out there. If you’re struggling financially, a refinance might net you some extra cash. Refinancing Your Home While the Government and Banks have provided some programs to help with cash flow through this difficult time (please contact your lender […]
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We are in the middle of a worldwide roller coaster ride. With unprecedented restrictions being implemented to deal with the Coronavirus (COVID-19) Pandemic, what do these extraordinary measures mean for you and your mortgage? BANK OF CANADA RATE With adversity comes opportunity – and our current mortgage situation is no different. In order to keep our […]
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Have you heard about a Reverse Mortgage product called “CHIP”? There is a lot of misinformation about this great mortgage product because of some reverse mortgage schemes in the United States. This product can be useful for yourself or for your parent(s). Let me answer some questions about the benefits of the CHIP product offered […]
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21 REASONS WE LOVE CORNWALL, ONTARIO & AREA Why Do We Love Cornwall, Ontario? A local Century 21 Real Estate Agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario. We’ve compiled 21 reasons, which we will share with you, one at a time. We would love to hear […]
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