Each Office Independently Owned & Operated
Posted by: Adam Sale
Flexibility of a Variable Mortgage Product with the certainty of a Fixed Payment Today I spotlight a cool variable-mortgage product offered exclusively by TD. It’s their variable mortgage. Variable mortgage products are excellent for those who have a higher risk tolerance, but want the flexibility of paying off their mortgage without incurring outrageous penalties. Current […]
Read MorePosted by: Adam Sale
How to Make Your Mortgage Tax Deductible Did you know in Canada there are 2 ways to make the interest you pay on your mortgage is tax deductible. The first way, is by owning a rental property. Interest accrued throughout the year on a rental property is a deductible expense from the rental income. This […]
Read MorePosted by: Adam Sale
Non-Resident, Temporary Visa & Permanent Resident Mortgage Options Non-Resident – U.S Citizen U.S Citizens interested in purchasing a property in Canada can purchase with as little as a 20% down-payment if the property will be the owners primary or secondary residence. Applicants must meet standard debt servicing requirements. U.S Citizens interested in purchasing a rental […]
Read MorePosted by: Adam Sale
5 Benefits of a Pre-Approval Shop with Confidence – Be certain how much house you can afford to save you time while shopping! Lock-in a rate for 90-120 days – In the event rates are rising, know you have access to your low locked-in rate. If rates are decreasing, you can to take advantage of […]
Read MorePosted by: Adam Sale
The mortgage stress test lowered today from 4.94% to 4.79%. After running a quick calculation using: Income of 100k 10% down payment Applicable Vancouver Property taxes Condo fees of $300 Heat $50 Maximum purchase price has increased from $537,000 to $552,000. If this same client used a down-payment of 20% (138K), the maximum amount we […]
Read MorePosted by: Adam Sale
Steps to take following a Bankruptcy If you’ve had a previous bankruptcy or consumer proposal don’t worry! There are still many lenders in the prime-space which will lend to you if you follow the correct steps. Lenders will accept a mortgage application after you’ve been discharged from your bankruptcy for a minimum of 2 years, […]
Read MorePosted by: Adam Sale
If you’re a salary or stable income employee with minimal debt payments, here’s a quick Rule of Thumb to help you figure out your qualifying limits. Regular salary and hourly income employees with a down-payment of less than 20%, and have minimal debts, will qualify for a mortgage amount that’s approximately 5-times their annual salary. 80k […]
Read MorePosted by: Adam Sale
Are you self-employed and having a tough time getting approved at Your bank? Prime lenders have made it difficult for self-employed (sole proprietor and corporation) earners to obtain financing through regular banking channels. These individuals are now forced to decide between either paying less taxes, or paying less interest. Sub-prime lenders calculate self-employed income differently […]
Read MorePosted by: Adam Sale
The state of emergency is being lifted end of day on June 23rd and I am curious how the market will react I’ve spoke with several clients who feel the need to put in an offer on a property before this date, and then other clients waiting until after this date because they feel there will […]
Read MorePosted by: Adam Sale
As I’m sure you’ve heard, CMHC is changing their lending guidelines on high-ratio mortgages as of July 1st. These changes will have a significant impact on homebuyers wishing to use CMHC’s high-ratio mortgage product. Thankfully the other insurers stated they have no intentions on aligning their high-ratio mortgage products with CMHC’s guidelines. Canada has 3 […]
Read More