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Is rate the only option you should look for in a mortgage?

Posted by Pam Peters / Apr - 20 - 2017 / Mortgages / 0 Comment

No! Mortgage rates are an important part of the mortgage application but it shouldn’t be the only item you think about. Questions you should be asking yourself are: How long will you be living in this property, is there a possibility that you might be transferred with your job, do

Borrow your Down Payment

Posted by Pam Peters / Mar - 22 - 2017 / Mortgages / 0 Comment

Did you know that if you have great credit, income and if borrowing your 5% fits in line with your debt servicing ratios, you can borrow your down payment? This is great for clients who are renting and the landlord just advised them they are selling the house. Since they

New Qualifying Rules

Posted by Pam Peters / Oct - 19 - 2016 / Mortgages / 0 Comment

As of October 17, 2016, all new mortgages that are high ratio (less than 20% down) will have to qualify using a stress test rate. That rate is called a bench mark rate (currently today it is 4.64%). Clients will still receive the lowest discounted rate however they now have