by Geoff | Oct 12, 2016 | DLC, Finances, First Time Home Buyers, Getting a Mortgage, GLMG Services, mortgage trends, Rates
By now you will have likely heard that the Federal Finance Minister has made drastic changes to mortgage lending rules making it tougher to qualify for a mortgage. For Canadians with less than a 20% down payment, their purchasing power has been dramatically reduced....
by Geoff | Sep 28, 2016 | Rates
5 Reasons Why Your Bank Rate Isn’t Better I recently had a client ask me what difference I could provide given that his bank’s website was offering the same interest rate I had quoted him the day before. Before responding to him, I went on his bank’s website to...
by Geoff | Apr 21, 2016 | Rates
The Amortization Effect Each year from 2008 through 2010 the Federal Government reduced the maximum amortization as follows: Purchases with less than 20% down –from 40–35 years, then 35- 30 and finally 30–25 years where it remains today. Purchases with 20% or more...
by Geoff | Mar 30, 2016 | Economy, Finances, Rates
Borrower or credit costs can be outrageous. To go get a line of credit you are usually paying upwards of 6% to 7.5%. These lines of credit can be based on interest only or principle and interest payments. This kind of loan is based on how the lender views you as a...
by Geoff | Feb 17, 2016 | Credit Score, Mortgage Broker, Rates
An important rule of thumb to remember regarding credit is that you are your only advocate for your credit. You are the only one that: Can improve your credit Can manage any errors on your credit Can determine who pulls and when your credit is looked at. ...
by Geoff | Feb 10, 2016 | Mortgage Broker, Rates
Prior to shopping for your new home getting a mortgage pre-approval is certainly beneficial. Getting pre-approved can help you in the search for your new home, knowing what you can afford prior to searching for a home can save you countless hours and mileage. They...
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