Category Archives: Hypothèque

Speed up your mortgage payments and save money!

Monday June 18th, 2018

Speed up your mortgage payments and save money!

What is the difference between an accelerated weekly payment and a non-accelerated payment? Simple! If your mortgage costs you $1,000 a month, and you want to pay it weekly, your financial institution will ask if you want to make the accelerated payments or not. Here is how the accelerated payment works: $1000/month divided by 4 […]
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Changing jobs during the mortgage application process has its risks!

Monday June 11th, 2018

Changing jobs during the mortgage application process has its risks!

Changing your job in the middle of your mortgage application (purchase, refinancing, renewal or investment) can cause you some serious problems. In order to obtain your mortgage approval with all the conditions having been met, your employment status cannot be ‘probationary’. Therefore, if you change your job just before negotiating your mortgage, you will have […]
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The questions you need to ask before deciding to move or upgrade your home

Monday May 28th, 2018

The questions you need to ask before deciding to move or upgrade your home

We often want to move because we want a bigger home. However, several factors, such as hesitating to leave a neighbourhood your family is fond of or the high cost of a larger home, might lead us to ask ourselves, “Why not just expand our current home instead?” Would adding a garage with an extra […]
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Recent graduates purchase their first condominium

Tuesday May 22nd, 2018

Recent graduates purchase their first condominium

Ann and John, both twenty-five, just graduated from university. Both have found a job in their respective fields with annual salaries of around $42,000. Their job probation period is over and now they want to purchase a condo. They are mainly motivated by the fact that they want to stop paying $850 a month rent […]
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Don’t forget the additional fees!

Monday May 7th, 2018

Don’t forget the additional fees!

Costs associated with the purchase of a property are not limited to the down payment and the mortgage. Here is a brief list of charges that will occur when taking possession of your home. You must plan for about 1.5% of the property purchase price to cover these charges. Insurance premium (Canada Mortgage and Housing […]
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The steps to property ownership in 2018.

Monday April 30th, 2018

The steps to property ownership in 2018.

It’s easy! You start by securing a pre-approved mortgage from an expert in the field such as a mortgage broker. Your mortgage broker will not only become your partner in this important transaction, but will also offer invaluable professional advice on these topics: The required down payment Your affordable price range and maximum limit Your […]
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Itching to renovate your home? Here’s how to make it happen.

Monday April 23rd, 2018

Itching to renovate your home? Here’s how to make it happen.

After a visit with me at my office, Vanessa and Thomas decided to renovate their home to bring it up-to-date. They even took the opportunity to add a garage! Fifteen years ago, they paid $130,000 for their home, which is worth $275,000 today. They have a mortgage balance of $62,000. The estimated cost of the […]
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To avoid unpleasant surprises, do an annual review.

Monday April 16th, 2018

To avoid unpleasant surprises, do an annual review.

Have you thought of doing a yearly review of your mortgage in order to avoid any payment shock if interest rates increase? It’s really quite simple. On each anniversary of your mortgage, compare your rate with the available rates on the daily market (just click on the link below to access today’s rates). If your […]
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