2 Mar

Bank of Canada Interest Rate Announcement May 2, 2022

General

Posted by: Rob Skoko

📣 Attention Variable Rate Mortgage Holders: Do Not Panic. 👉 The Bank of Canada raised its key interest rate by 0.25% today – just as they have been telling us that they would. Citing uncertainty due to the unprovoked invasion of Ukraine, high inflation, and a stronger than expected first-quarter growth, the Central Bank did […]

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11 Mar

REVERSE MORTGAGES IN CANADA DIFFER GREATLY FROM THOSE IN THE U.S.

General

Posted by: Rob Skoko

REVERSE MORTGAGES IN CANADA DIFFER GREATLY FROM THOSE IN THE U.S. How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. But there are many people who mistakenly think that Canadian reverse mortgages are just like those offered in […]

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24 Jul

Buying the Best Home for You

General

Posted by: Rob Skoko

Before you begin searching for a home, it’s always helpful to think about your needs both now and in the future. And if you have any questions about the home-buying process or different types of real estate, you can always ask your mortgage professional or real estate agent for input.   Following are some things […]

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16 Jun

Why Use a Mortgage Professional

General

Posted by: Rob Skoko

  There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, and trust companies … offering […]

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7 Jun

Budgeting Towards Homeownership

General

Posted by: Rob Skoko

Transitioning from renter to homeowner is one of the biggest decisions you’ll make throughout your lifetime. It can also be a stressful experience if you don’t plan ahead by building a budget and saving prior to embarking upon homeownership.   Budgeting is a core ingredient that helps alleviate the stress associated with money issues that […]

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1 May

Mortgage options for the self-employed

General

Posted by: Rob Skoko

  If you’re self-employed, you may have a more difficult time obtaining financing for your real estate purchases than you encountered just 18 months ago thanks to the recent recession. And as of April 9th, 2010, Canada Mortgage and Housing Corporation (CMHC) raised the required down payment amount, as well as decreased the percentage at […]

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1 May

Getting a Mortgage Pre-Approval

General

Posted by: Rob Skoko

  If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend. The […]

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29 Apr

Deciding which type of home to purchase

General

Posted by: Rob Skoko

  There is an endless supply of different types of homes available for purchase – ranging from condos to townhouses to fully-detached homes. The key is to decide what you can afford and which amenities you prefer before heading out shopping for a new home.   Your best first step is to seek the advice […]

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28 May

10 Questions Every Borrower Should Ask

General

Posted by: Rob Skoko

1. If I have mortgage default insurance do I also need mortgage life insurance? Yes. Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home should something tragic happen to you. Mortgage default insurance is something lenders require you […]

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7 Nov

10 Most Commonly Asked Mortgage Questions

General

Posted by: Rob Skoko

1. What’s the best rate I can get? Your      credit score plays a big part in the interest rate for which you will      qualify, as the riskier you appear as a borrower, the higher your rate      will be. Rate is definitely not the most important aspect of a mortgage,      however, as […]

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