Five steps to scoring a mortgage

A variety of factors can keep you from qualifying for a mortgage. The big ones include a low credit score, insufficient income for the size of the loan you want, insufficient down payment and excessive debt. All of these factors are within your control, however. Let’s take a look at your options for overcoming any […]

Canadians take Carney’s debt warning to heart

Canadians appear to have gotten the message Mark Carney was sending when the Bank of Canada governor went public last year with his concerns about rising levels of household debt. In the months since his remarks – which were augmented by changes to lending rules by Ottawa – growth in consumer borrowing has noticeably slowed, […]

Check owner-to-renter ratio when buying a condo

Buying a house is a big learning experience for most of us, since we do it infrequently. Buying a condo presents even more challenges. I always advise people to do lots of research, talk to neighbours and check the minutes of the condo board meetings. Don’t make an impulse purchase, as Jody White described doing […]

Easing the tax hit for investment property owners

Whether it’s a duplex, a cottage or a Florida getaway, a second property can be a rewarding investment over time. But if you’re not careful, it can prove taxing as well. A little planning goes a long way. The following are some common mistakes financial planners see in their practice, as well as some tips […]

10% Down Payments & Other Policy Debates

Housing accounts for an immense 1/5th of Canada’s GDP. That makes mortgage debt and housing policy enormously important topics from an economic standpoint. With the stakes so high, it’s painful to watch critics exhort blanket changes to mortgage rules, based primarily on their opinions in lieu of credible data. Case in point is this editorial […]

IRD Penalty Comparison Rates

The much-unlovedInterest rate differential (IRD) penalty is a mystery to most of the natural born population. People loathe it, largely because they don’t understand it. We continually come across folks who read their entire mortgage contract and are still confused by the IRD calculation. Fortunately, federal disclosure guidelines are on their way later this year. […]

Help for seniors

Paul Barker, Postmedia News · Mar. 30, 2011 | HomEquity Bank, operator of the Canadian Home Income Plan reverse mortgage, better known as CHIP, has a monopoly today but mortgage experts say it’s only a matter of time before competitors move into this highly lucrative and growing market. “I can’t predict when it might happen […]

Welcome to Adil Virani Mortgages

Credit Repair Job

Credit is sometimes a mysterious concept to people. A lack of basic financial knowledge, such as why it’s important to pay bills on time, could be the difference between an A mortgage with a great rate and a B mortgage with higher payments. But as a broker, you know placing clients with an alternative lender […]

Think Outside the Bun

That is Taco Bell’s slogan.  It’s meant to remind us that fast food doesn’t end with hamburgers. Tacos are pretty tasty in their own right. In the lending world, the closest equivalent to “the bun” is the 5-year fixed mortgage. Like hamburgers are to fast food, the 5-year fixed is to mortgages. It’s been the […]

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