Relevant Articles

We have organized the articles on our website into different sections.  

We have a section for Home Buyers, Homeowners, Self-Employed Clients as well as Seniors (+55). 

Scroll down to find the section that you are most interested in.

Articles For Home Buyers

If you are in the process of purchasing a home, then these articles will be more relevant to you.  If there is something you would like us to cover, connect and let me know.
October 15, 2019
Is Mortgage Life Insurance Mandatory?

I often get the question, "Is mortgage insurance mandatory?" and I have to clarify because clients asking are asking about one of 2 different types of insurance. They are asking about default insurance or life insurance. If you want to know about the answer for mortgage default insurance, then read the article I wrote here. […]

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October 11, 2019
Is Mortgage Default Insurance Mandatory In Canada?

The question I often hear, "Is mortgage insurance mandatory?" and before I answer I always have to clarify what the client is asking. Mortgage Insurance could refer to Mortgage Default Insurance or it could refer to Mortgage Life Insurance, to find out if mortgage life insurance is mandatory, click here. In this article I will […]

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September 20, 2019
What Do You Need For a Mortgage Pre-Approval?

One very important part of your home purchase journey is the mortgage pre-approval and ultimately the mortgage approval. Before I speak with clients, we talk a little bit about the process and I let them know what I need for a mortgage pre-approval. To obtain a mortgage pre-approval, you will need to provide confirmation of […]

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September 4, 2019
How Long Does It Take For Mortgage Pre-Approval?

The first step in your home buying journey should be to get mortgage pre-approval. As I review the process with clients, many ask, "how long does it take for mortgage pre-approval?" To complete the process and get mortgage pre-approval it will take anywhere from 1 hour to 24 hours. A mortgage pre-approval will include a […]

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September 3, 2019
Mortgage Pre-Approval Calculator, How Much Do You Qualify for?

Our mortgage pre-approval calculator is a great tool (if I say so myself) to give you an idea about how much mortgage you will qualify for. When I meet clients, this is one of the first questions they ask me. A mortgage pre-approval calculator will let you know approximately how much mortgage you can qualify […]

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August 29, 2019
What Is A Mortgage Pre-Approval?

Over the years, I have worked with many clients who want a mortgage. I enjoy working with home buyers. I find that it's important for home-buyers to get a mortgage pre-approval before starting the house hunting journey. When I go through the process, some clients will ask, "What is a mortgage pre-approval?" A mortgage pre-approval […]

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August 27, 2019
How Much Income do I Need to Qualify for a Mortgage?

When I sit down with a client, we always talk about how much mortgage you qualify for. To do that, we often come from two perspectives. The first is how much income is required to qualify for a certain mortgage amount. The other perspective is how much mortgage does my income qualify for. To calculate […]

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August 24, 2019
Mortgage Payment Calculator for Canada

I've notice as I search the internet that it can be difficult to find an online mortgage payment calculator that uses the proper calculations for Canadians. Our mortgage payments are calculated differently than in the US. The interest rate that lenders can charge is legislated by the federal government to be compounded semi-annually not in […]

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August 22, 2019
What is the First Time Home Buyer Incentive?

In the spring of 2019, the government announced two changes for first time home buyers. The first time home buyer incentive and the change to the first time home buyer plan. The home buyer incentive is a government program offered through CMHC where you will receive an incentive equal to 5% (for re-sale homes) or […]

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August 19, 2019
What To Look For When Buying A Home

Buying a home is without a doubt one of the most important experiences of your lifetime. For most of us, it is the single biggest purchase that we will ever be involved in. For that reason, it takes a little bit (or a lot) of research to know what you should be looking for and […]

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July 5, 2019
How Much Down Payment Do I Need To Buy A Home?

I hear this question a lot! It's probably because down payment rules have changed quite a bit over the last few years. All these changes create uncertainty, confusion and plenty of myths. My clients typically ask, "How much money do I need to purchase a home?" The minimum down payment to purchase your principle residence […]

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July 3, 2019
Can I Qualify For A Mortgage While On Maternity Leave?

Having a baby can be an exciting time and many parents want to purchase a home for their new family. I get many questions from expecting moms about how to qualify for a mortgage while on maternity leave. I always hear, "Can I qualify for a mortgage while I'm on maternity leave?" Yes, you can […]

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June 30, 2019
Purchase Plus Improvements Mortgage, A Great Way To Buy Your Dream Home

The Purchase Plus Improvements Mortgage is, in my opinion, completely under-utilized by home buyers in Canada! I explain this program to every home buyer I meet and I have had so many success stories from clients who have used it. The Purchase Plus Improvements Mortgage allows a qualified purchaser to include the cost of the […]

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June 27, 2019
How Much Mortgage Do I Qualify For?

One of the first questions that I get from a client when we sit down is... How much mortgage do I qualify for? Two income based ratios, the Gross Debt Service (GDS) and the Total Debt Service (TDS), are used to calculate how much mortgage you qualify for. The GDS Ratio can not exceed 39% […]

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Articles For Home Owners

As a homeowner, you will have different needs than home buyers.  These articles are more relevant to you as a homeowner.
November 5, 2019
When Can I Refinance My Mortgage?

We've talked about many benefits of a mortgage refinance and the reasons for applying to refinance your mortgage. Now, let's talk about when you can you refinance your (my) mortgage? For a mortgage refinance, lender can only lend up to 80% of the value of your home. Therefore, you can refinance your mortgage when you […]

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November 2, 2019
Can you switch your mortgage to another bank?

I've noticed that most mortgage clients aren't aware of the different options available to them like switching their mortgage. In this article, I thought we could review the mortgage switch. To start with, can you switch your mortgage to another bank? Yes, you can switch your mortgage from one bank to another bank either during […]

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October 28, 2019
What Is A Home Equity Loan and How Does It Work?

We hear the commercials on the radio promoting home equity loans, but do you really know what they are? In this article, let's take a look at what is a home equity loan and how does it work? A home equity loan is a loan offered by a bank or finance company that will use […]

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October 21, 2019
How Much Mortgage Refinance Can I Qualify For?

Over the last few years, changes to mortgage financing rules have created confusion with many clients I speak with. If a client comes to me to refinance his or her home, then they ultimately want to know, "How much mortgage refinance can I qualify for?" The amount of mortgage refinance you qualify for depends on […]

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September 30, 2019
When To Consider A Second Mortgage in Canada

Anytime you are considering a mortgage or loan where your home is going to be involved, it's important to understand your options. I have talked to many clients who want to know if and/or when to consider a second mortgage. I always tell them it depends. If you are going to consider a second mortgage, […]

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September 24, 2019
Alpine Credits - APPROVED - Review Your Options and Choices

As a mortgage broker, I meet many clients who have heard the Alpine Credit radio and TV commercials, "Own Your Own Home? You're Approved!" However, is this the financing that you want or that you need? Alpine Credits is a lender that offers home equity loans to Canadians. You can potentially borrow up to 75% […]

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September 16, 2019
How To Refinance Your Mortgage While Going Through Divorce?

Things in life can happen. Dealing with money, your mortgage, refinancing, and divorce can be challenging. I have met several clients who weren't aware of all the options available to them during this difficult time. I wanted to provide a resource so that you are more informed about your options on how to refinance your […]

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September 8, 2019
What Are The Pros and Cons Of A Home Equity Line Of Credit

I have helped clients set up mortgages and home equity lines of credit (HELOC). Many client's are not completely aware of how a home equity line of credit and what are the advantages and disadvantages. I wanted to clear that up in this article. Let's look at the advantages (pros) and the disadvantages (cons) then […]

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September 4, 2019
How to Refinance Your Home Mortgage with Bad Credit

Sometimes things happen and your credit gets bumped and bruised. I've talked to many clients who had credit challenges, they will ask, "how can you refinance your home mortgage with bad credit?" You can refinance your home if you have bad credit, but it depends on how much equity you have in your home. Lenders […]

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August 30, 2019
Why Should You Refinance Your Home Mortgage?

I have been helping clients with their mortgages for many years. Sometimes I suggest they consider refinancing their mortgage. Other clients will ask me, "should you refinance your home?" or "should you refinance your mortgage?" The main reason you should refinance your home mortgage would be to put yourself into a better financial position. You […]

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August 16, 2019
How to Make Your Home Feel Bigger When Selling

One of the most important aspects of selling a home is to create the kind of aesthetic and feel that the potential buyer can get into. To create the look that can make them think of your home as potentially being their home. If you are able to achieve this, you can get buyers interested […]

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August 8, 2019
How Do You Finance A Second Home In Canada?

I have been helping clients arrange mortgage financing for many years. I find that in the height of the summer or just after Christmas, clients will ask about buying a vacation home. They want to know how to finance a second home or vacation home. In Canada, you can purchase a vacation home or second […]

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July 29, 2019
What Are The Requirements For A Second Mortgage In Canada?

As a mortgage broker, I work with many lenders. All of them offer second mortgages in one form or another. When people ask me about second mortgages, they are not typically asking about a mortgage from a big bank. Most people asking about a second mortgage and how to qualify are looking for private financing. […]

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July 20, 2019
Is It Worth It To Refinance My Mortgage?

I have been working with clients for years and have seen all sorts of different situations that clients are in. Sometimes a mortgage refinance is a good option. Sometimes a mortgage refinance isn't a good option. Have you been thinking... "Is it worth it to refinance my mortgage?" Let's explore that question. It may be […]

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July 17, 2019
How Do Mortgage Penalties Work In Canada?

Most clients choose a closed mortgage when they purchase or refinance a home because open mortgages have a higher interest rate. With a closed mortgage, you are in a contract. If you want to break the contract, then there will be a penalty. I'm often asked by clients, "how do mortgage penalties work in Canada?" […]

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July 6, 2019
Should I Refinance My Mortgage To Pay Off Credit Card Debt

I have been working with clients as a mortgage broker for many years. I've also worked with 2 of Canada's largest banks and I hear this question from clients all the time.. "Should I refinance my mortgage to pay off credit card debt?" There is no clear cut answer to this question, it depends on […]

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July 2, 2019
How Much Mortgage Can I Borrow Against My Home?

I work with many clients who already own a home and want to access some of the equity in their home. There are many different reasons clients may have to get equity out. Here are a couple of reasons... get equity to purchase another home get equity to purchase a vacation home pay off debt […]

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Articles For Self-Employed

If you are self-employed, then you there are actually more programs and options for you compared to a salaried employee.  You will find articles relevant to you here.
July 17, 2019
Do Mortgage Lenders Use Gross or Net Income for Self Employed?

There seems to be so much confusion about how self employed applicants qualify for a mortgage. The truth is, there are several different programs and options for self-employed clients to qualify for a mortgage. One question I get is, "do mortgage lenders use gross or net income for self-employed clients?" It depends. If a self-employed […]

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July 10, 2019
How Many Years Must You Be Self-Employed To Get A Mortgage?

When I speak with self-employed clients, they seem to have heard so many horror stories about getting qualified to purchase a home. One of the questions that I often get asked is, "How many years do I have to be self-employed to get a mortgage?" If you're self-employed, to qualify for a mortgage with a […]

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June 26, 2019
I'm Self Employed, How Do I Qualify For A Mortgage?

I work with many clients who are self employed and I always get this question from them: I'm self employed, how do I qualify for a mortgage? When self employed, the qualifying criteria is the same as the qualifying criteria for an employee. That is, lenders use up to 39% of your taxable income for […]

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Articles For Seniors (55+)

In this section, I have articles for Seniors (55+).  Some people retire at or after 55 and there are still options for mortgage financing if you are retired or consider yourself a senior.  
September 9, 2019
Who Qualifies For A Reverse Mortgage?

I have been working with clients of all ages for many years. Reverse mortgage questions don't come up unless clients are closer to retirement. When reverse mortgages do come up in conversation, clients will always ask. "Who qualifies for a reverse mortgage? To qualify for a reverse mortgage in Canada, you (and your spouse) must […]

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July 29, 2019
Reverse Mortgage in Canada, The Pros and Cons

I've found that when people talk about Reverse Mortgages, there are far too many myths and misconceptions. Typically, clients will call on behalf of their aging parents. Their parent's incomes are not keeping up with inflation. They want access to the equity in their home but aren't ready to sell. The main advantages (pros) of […]

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July 12, 2019
How Does A Reverse Mortgage Work?

I've heard from more and more clients who are starting to ask questions about reverse mortgages. There was a time that I was very skeptical about them, however, they do provide a solution for the right clients. One question I hear all the time is, how does a reverse mortgage work? A reverse mortgage is […]

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July 12, 2019
Can A Retired Person Get A Mortgage?

I work with clients of all ages. Typically first time home buyers are in their late twenties and thirties. Retirees that I have worked with are aged 50 and older. With my older clients, they will question whether they can qualify for a mortgage once they retire. I always tell them the same thing! Yes, […]

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