Each Office Independently Owned & Operated
Posted by: Jenni MacDonald
One product. Many benefits. CHIP Reverse Mortgage by HomEquity Bank. Designed to fit into any financial plan, the CHIP Reverse Mortgage offers many benefits and opportunities that make it the right solution for so many older Canadians so they can live the lifestyle they’ve worked so hard for. 1. Maintain complete ownership of your home. […]
Read MorePosted by: Jenni MacDonald
When Breaking Up is Inevitable Consider a Spousal Buyout Life can hit us hard and it’s hard to move forward. But, we pull up our boots and take one step at a time. When couples decide that a divorce (or Breaking up) is inevitable, if a house is involved, the question of whether the house […]
Read MorePosted by: Jenni MacDonald
All the recent mortgage changes translates into needing a strong credit score more than ever. Most Lenders rely on the “Equifax” score. Equifax calculates a daily “risk” score out of a maximum score of 900. Using Creditkarma.ca, will access a TransUnion score which is not used by many lenders but is a good way to […]
Read MorePosted by: Jenni MacDonald
You may have 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. Let me answer some questions about the benefits of the CHIP product offered exclusively through HomEquity Bank. How much can you get and […]
Read MorePosted by: Jenni MacDonald
Should You Take A Holiday From Your Mortgage? Many lenders offer the option of a “Mortgage Payment Holiday”. A mortgage payment holiday means that you can skip a mortgage payment for one or more months. We all know that the Christmas Season can be expensive. This seems like a great idea but I encourage you […]
Read MorePosted by: Jenni MacDonald
Are you considering purchasing a new home soon? Or are you refinancing your current property in the next few months? Change: As of January 1, 2018, the mortgage rules are changing again to make it more difficult to qualify. Come see me now for a free consultation on your mortgage choices before the changes come […]
Read MorePosted by: Jenni MacDonald
Are you getting ready to purchase your first home? Or are you considering a refinance of a property you already own? There are some basic steps that every borrower can follow to prepare for finding the perfect mortgage. Over the next few weeks, we will look at Pre-approvals, Down Payments, and Credit Scores. Rate Hold […]
Read MorePosted by: Jenni MacDonald
Credit Scores and Documentation Changes: In 2008, lenders were required to be more diligent proving a borrower’s ability to make mortgage payments. Documentation requirements became almost painful. Clients often lament about the lender wanting everything except their first born. As consumer debt in Canada continues to increase, the government will continue to change lending rules […]
Read MorePosted by: Jenni MacDonald
Maximum Amortization Changes: The second major change for mortgages in Canada is the maximum amortization period that a home owner can get. Before 2008, a property owner could get a 40 year amortization. In 2008, that changed from 40 years to 35 years. In 2011, from 35 years to 30 years and recently, in 2012, […]
Read MorePosted by: Jenni MacDonald
November Mortgage Rule Changes The result of the November, 2016 change is that many non-bank lenders have already cancelled the mortgage products available for rental properties and refinances. The impact for Cornwall borrowers is already significant. As a small market with a large rental portfolio, Cornwall borrowers looking to get refinance mortgages on their rental […]
Read More