1 Mar

4 SIGNS YOU’RE READY FOR HOMEOWNERSHIP

General

Posted by: Steven Brouwer

4 SIGNS YOU’RE READY FOR HOMEOWNERSHIP While most people know the main things they need to buy a home, such as stable employment and enough money for a down payment, there are a few other factors that may help you realize you’re ready, perhaps even earlier than you thought! As a mortgage broker, it is […]

Read More
21 Feb

RRSP – USE HOME BUYERS’ PLAN (HBP) MORE THAN ONCE

General

Posted by: Steven Brouwer

RRSP – USE HOME BUYERS’ PLAN (HBP) MORE THAN ONCE Under the home buyers’ plan, a participant and his or her spouse or common- law partner is allowed to withdraw up to $25,000 from his or her RRSP to buy a home. Before 1999, only the first- time home buyers are permitted to buy a […]

Read More
20 Feb

Self-Employed? Here’s What You Need to Know About Mortgages

General

Posted by: Steven Brouwer

Why, why, why it is so challenging for entrepreneurs to obtain a mortgage in Canada? If you’re among the 2.7 million Canadians who are self-employed, regrettably your income is not as easy to document as someone who’s traditionally employed. Since 2008, mortgage regulations in Canada have made it more challenging for those who work for […]

Read More
15 Feb

WHAT’S AN ACCEPTABLE DOWN PAYMENT FOR A HOUSE?

General

Posted by: Steven Brouwer

Ask people this question and you will get a variety of answers. Most home owners will say 10% is what you should put down. However, if you speak with your grandparents, they are likely to suggest that 20% is what you need for a down payment. The truth is 5% is the minimum down payment […]

Read More
2 Feb

ARE YOU IN A VARIABLE RATE MORTGAGE? ME TOO.

General

Posted by: Steven Brouwer

Are you in a Variable Rate Mortgage? Me too. If you’re in a fixed rate mortgage, this news does not impact you. Mind you ‘impact’ is too strong a word to use for the subtle shift that occurred Jan 17, 2018. Short Version The math is as follows: A payment increase of ~$13.10 per $100,000.00 […]

Read More
29 Jan

8 THINGS YOU CAN DO TO GET THE BEST RENEWAL

General

Posted by: Steven Brouwer

With 47 per cent of homeowners scheduled to renew their mortgages this year, 2018 is a year of change for lots of Canadians. Here are the top 8 things you can do to get the best renewal: 1. Pull out your mortgage renewal now, and start early. When you are proactive instead of reactive you […]

Read More
15 Jan

STRENGTH IN TURBULENT TIME – IMPACTS OF CANADA’S NEW MORTGAGE RULES

General

Posted by: Steven Brouwer

Mortgage brokers have become an integral part of Canada’s financial landscape. Rather than deal directly with banks, about 30 per cent of Canadians turn to independent brokers to help them secure the best terms for their loan. But as residential real estate markets continue to power ahead at a time of economic uncertainty, government regulators […]

Read More
2 Jan

2016 PROPERTY ASSESSMENTS VS. MARKET VALUE

General

Posted by: Steven Brouwer

SHORT VERSION: Do not rely on your provincial assessment for a fair market value of your property. The value printed on that document was arrived at during a time in the previous year, the market may have changed a bit since then, and not in the direction you might think. Do not rely entirely on the buyer’s opinion or […]

Read More
28 Dec

TOP 5 COSTLY FINANCIAL MISTAKES HOMEOWNERS MAKE WITH THEIR MORTGAGE

General

Posted by: Steven Brouwer

1. Not consolidating high interest debt into low interest mortgage. 2. Paying “fees” to get the lower rate 3. Not looking at their long term forecast 4. Taking a 5 year rate when 3-4 years can be cheaper 5. Having their mortgage with a lender that has high penalties and restrictive clauses. Not consolidating high […]

Read More