What is the difference from a Bank to a Credit Union? This difference saves you $10,000’s!

What is the difference from a Bank to a Credit Union? This difference saves you $10,000’s! Bank and Credit Unions are virtually identical, with respect, to the services rendered. They both provide daily banking, investments, loans, mortgages, credit cards, business financing, commercial lending, etc. However, the major difference lay in the business model itself. Each …

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Canadian’s holding insured mortgages (CMHC) exhibit low risk appetites

Great news, Canada! The Canadian economy has and does enjoy a very profitable real estate and mortgage market, especially so in recent memory. There has also been discussion of “bubbles” in the market and the danger they pose to the Canadian economy with Canadian’s being overleveraged when looking at their incomes versus their monthly liabilities. …

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Are the New Mortgage Rules applicable to all lenders?

Many people are aware that Canada’s mortgage landscape has changed significantly over the past year or so. Most recently, there were (January 1st, 2018) major mortgage rule changes that affect borrowers who sit to purchase property or refinance their existing property. The new rules require a borrower with more than 20% equity or downpayment to …

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Life changing Mortgage Rules – January 1st, 2018

The most ground shaking mortgage rules to date will be affective on January 1st, 2018 for all federally regulated financial institutions in Canada. This includes both purchase and refinances! OSFI is setting a new minimum qualifying rate, or “stress test,” for uninsured mortgages (mortgage consumers with down payments 20% or greater than their home price). …

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Niagara Health Foundation – mortgage fundraiser update

To date, over $3,000 has been generated for the Niagara Health Foundation to ensure Niagaran’s have access to the best healthcare! In addition, mortgage holders have saved thousands and thousands of dollars in lower rates and mitigation of risk. Thank you Niagara for the privilege of serving! With our extensive range of lenders, ranging from Big …

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