Becoming Mortgage Free Faster

Regardless of how long you’ve had your mortgage or how large or small the current balance is, there are a variety of ways to make prepayments work for you to pay down your mortgage faster and, therefore, pay less interest throughout the life of your mortgage. After all, each extra payment amount will reduce your […]

3 Reasons to Refinance Your Mortgage – Consult with a Vancouver Mortgage Broker

Refinancing your mortgage – it sounds scary at first! But having the option to refinance can actually be a good thing. In fact, refinancing your mortgage can be a great financial tool – one that helps you accomplish financial goals at a low interest rate – but be careful! A refinance leaves you on the hook […]

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 […]

IRD Penalties on FirstLine Vancouver Home Mortgages

IRD Penalties on FirstLine Vancouver Home Mortgages The following information may be helpful for individuals holding Vancouver home mortgages through FirstLine. FirstLine Mortgages is a subsidiary of CIBC which stopped accepting mortgage applications as of July 31, 2012. According to CIBC, parties who currently have mortgages with FirstLine will not be affected by this change. […]

Changing Mortgage Regulations Present Challenges to First-time Homebuyers

Changing Mortgage Regulations Present Challenges to First-time Homebuyers On July 1 2012, new mortgage regulations came into affect in Canada. The purpose of these rules was to cool the hot Canadian housing market, as well as stem a housing bubble and high levels of household debt. The biggest change that potential homeowners should be concerned […]

New Mortgage Rules Kick In

Effective today, mortgage shoppers with less than 20% equity are subject to thenew mortgage rules announced recently by the government. These regulations will cut buying power and refinance ability for a minority of Canadians. If these changes shut you out of the market, and if renting is not appealing, you don’t have a ton of options. One […]

Welcome to Adil Virani Mortgages

Rising mortgage rates are worse than you think

Whether you own a house or are looking to buy, rising mortgage rates are your enemy. You think you know that, right? With Monday’s announcements that Toronto-Dominion Bank and CIBC are raising some of their fixed-term mortgage rates by as much as one-quarter of a percentage point, let’s see if you do. Rising rates will […]

Get smart: Ottawa plans crash courses on financial literacy

As consumer debt levels soar and baby boomers approach retirement, the federal government is looking at adopting a long list of measures designed to prod Canadians into making smarter financial decisions. The measures recommended by a federal task force cover a wide range of initiatives. Employers who offer pensions would be required to automatically enroll […]

Worst mistakes first-time home buyers make

When Chris Kiskuna bought her first house in 1985, she was so anxious to close the deal quickly, she skipped the home inspection – a decision she paid for the first time she turned on the tap in the bathroom sink. “The water’s running and I’m hearing it run everywhere and thinking, ‘What’s happening here?’ […]

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