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 […]

Pick the right term, pay off mortgage faster – Consult with a Vancouver Mortgage Broker

Robert McLister is the editor of CanadianMortgageTrends.com and a mortgage planner at Verico IntelliMortgage, a mortgage brokerage. You can also follow him on twitter at @CdnMortgageNews The trick to making a mortgage disappear faster is to minimize your total borrowing cost. And nothing dictates total borrowing cost more than the term you chose. Picking the right term is even […]

Get a mortgage without a salary – Consult with a Vancouver Mortgage Broker

There are things that you can do to help you qualify for a mortgage. Landing a mortgage is trickier for the self-employed than their salaried counterparts. Not only do self-employed people face higher interest rates and CMHC mortgage insurance premiums, they are also more likely to have their loan applications rejected outright. If you’re self-employed, […]

Can you handle higher interest rates? – Consult with a Vancouver Mortgage Broker

Garry Marr  | @DustyWallet It may be stressful to think about it but higher mortgage rates are on the horizon. The questions for homeowners is whether they can handle a hike in interest rates. Bank of Montreal says consumers should stress test their mortgages a couple of ways, considering higher interest rates and a shorter amortization period. […]

Are bank online mortgage break-fee calculators reliable? Not always – Consult with a Vancouver Mortgage Broker

Are bank online mortgage break-fee calculators reliable? Not always ROBERT MCLISTER– Special to The Globe and Mail Getting a quote for the cost of breaking your mortgage early – and understanding it – hasn’t always been easy. That was supposed to change last year when the Finance Department compelled banks to put penalty calculators and guidelines […]

Pick the right term, pay off mortgage faster – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail The trick to making a mortgage disappear faster is to minimize your total borrowing cost. And nothing dictates total borrowing cost more than the term you chose. Picking the right term is even more important than selecting the best lender, choosing the appropriate mortgage features and finding the […]

Strategic Matches – A New Way to Place Private Mortgages – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com Have you ever seen a cool new idea and wondered how on earth it took so long to come up with it? One such idea, at least in this author’s mind, is matching private lenders withnon-prime borrowers online. And a start-up called Strategic Matches is now doing just that. Strategic Matches simplifies […]

Crush your mortgage – Ask a Vancouver Mortgage Broker

Opaque contracts. Stiff penalties. Unnecessary insurance fees. Mortgage documents are full of traps that make it extremely difficult to pay off your biggest debt. MoneySense shows you how to pay off your mortgage early and become debt-free sooner than you imagined. By David Hodges | From MoneySense Magazine,  It was a sun-drenched autumn afternoon in 2005 when Heidi Croot and […]

Stricter Debt Ratio Standards on the Way – Consult with a Vancouver Mortgage Broker

Stricter Debt Ratio Standards on the Way By Rob McLister, Editor, CanadianMortgageTrends.com If you’re a typical borrower, yourdebt ratios will largely determine if you’re approved for a mortgage. For applicants who push the limits of qualification, those approvals have been tougher to come by. That’s a direct result of last year’s mortgage rule tightening, which imposed stricter debt […]

Mortgage rate hikes shouldn’t torpedo the housing market – Ask a Vancouver Mortgage Broker

LARRY MACDONALD- Special to The Globe and Mail Many housing bears think that the recent increase in mortgage rates is the beginning of the end for the Canadian housing market. I’m not convinced; here are some reasons why. Fixed-mortgage rates have gone up because they are tied to bond yields, which have been rising lately. That’s […]

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