Can you really afford that mortgage? Know your Real Life Ratio – consult with a vancouver mortgage Broker

Someone ought to explain the facts of life to the nation’s bankers. They’re handing out mortgages to people without any apparent understanding that today’s home-buying couple is tomorrow’s family of three or four. A lot happens to one’s ability to afford mortgage payments when kids come along, but you’d never know it by the way […]

Do early mortgage renewals save or cost you money – Ask a Vancouver Mortgage Broker

A rate in the hand is worth two in the bush. Many mortgage lenders want you to believe that rate certainty is worth paying a premium for. It is the justification, they say, for staying with them and renewing your mortgage early. Early renewal features typically let you lock in a new rate two to […]

Broker Channel Market Share – Q3- Ask a Vancouver Mortgage Broker

It seems that more power is being concentrated in the hands of fewer lenders. The mortgage broker channel’s top 10 lenders accounted for 85.6% of its volumes last quarter, according to data from D+H. That’s the highest level since we started tracking D+H market share reports in 2010. It’s against that backdrop that we see a micro trend taking […]

Five things to do if you are over-extended on your mortgage – Ask a Vancouver Mortgage Broker

Mortgage default may be rare in this country, but nearly 9% of indebted households need 40% or more of their gross income to pay their debt service charges, says the Bank of Canada Financial System Review. If you can see problems coming, then you can take action to avoid foreclosure, which happens when lenders run […]

The ultimate mortgage checklist: How to get the best possible deal – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER – Special to The Globe and Mail These questions will help you snare the most feature-rich mortgage possible, at a rate that’s better than average The lowest possible rate is how many define a good mortgage. But that’s like judging the “best car” by the one with the lowest monthly payment. Anyone who’s had to […]

A money pit on wheels: The real cost of owning a car – Consult with a Vancouver Mortgage Broker

A money pit on wheels: The real cost of owning a car ROB CARRICK– The Globe and Mail Cars are a problem in personal finance, but they’ve been getting a free ride. The surge in home sales in recent years and its impact on family finances has received non-stop attention in the past couple of years. […]

Half Baked Mortgage News – Consult with a Vancouver Mortgage Broker

From the “can’t believe everything you read” file comes this shocker from the Huffington Post: Mortgage Debt Exploded In Past 4 Years An unnamed Huffington Post author claims that mortgage debt at chartered banks soared 56% ($301.4 billion) in just one year—from June 2011 to June 2012. It’s a “risky explosion” in mortgage debt says […]

Bridge financing can ease closing day stress – Consult with a Vancouver Mortgage Broker

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart. Published on Fri Aug 16 2013 Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals […]

Balancing financial priorities as parents – Consult with a Vancouver Mortgage Broker

By Gail Vaz-Oxlade | MoneySense Where to draw the line between providing for your children and saving for your own retirement. Remember the line in Spiderman where Aunt May says, “You do too much…you’re not Superman, you know?” Some parents think they’re Superman. Determined to set their children off on the right foot, they commit buckets of money to helping […]

Shop Your Renewal – Ask a Vancouver Mortgage Broker

Shop Your Renewal By Rob McLister, Editor,CanadianMortgageTrends.com”  Lenders make a lot more money when they renew your mortgage than on your initial term. That’s partly because they don’t have to compensate anyone for referring you (or compensate them as much). But it’s also because many renewers don’t comparison shop as much or negotiate as hard. According to a […]

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