As of March 18th, 2011 – The rules for maximum amortization change from 35 – 30 years. This only affects high ratio deals This does not affect you when putting 20% or greater down payment If you have a firm deal (subjects removed) on or before March 17th, this does not affect you You can even switch lenders or mortgage brokers after March 18th Just don’t alter the mortgage and return... [Read More]

Don’t be fooled by all the recent hype in the media lately about housing bubbles, interest rate increases and Canadians carrying too much debt. Canadians are in a good position, financially, and incomes and employment will increase in 2011. According to economist Benjamin Tal, who recently spoke at a mortgage conference, the ratio of mortgage holders who are 35+ years old and making over $50,000... [Read More]

I am a first time buyer and want to know where do I get my down payment? So you’re thinking about take the leap into home ownership as a first time buyer? It’s a great time to do it — interest rates are low, home prices are stabilizing, and the economy is turning around.  But you’re new to this and are not quite sure if you qualify or even if you have enough money for a down payment. It’s... [Read More]