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Kevin O'Leary has stated that he will be starting a Brokerage that specializes and only offers five year fixed term mortgages. His goal is the make the mortgage process understandable for clients and to help them become Mortgage free as soon as possible. He believes by educating the...

BC First-time new home buyers bonus This is a one time payment worth up to $10,000 for BC residents who are first time home buyers and who purchase an eligible new home. Definition of BC resident filed a 2011 BC residential personal income tax return you file a 2012 BC resident personal income tax return moved...

Monoline Lenders are lending institutions that do not have store fronts such as the 5 bank banks (RBC, TD, Scotia bank) Such Monoline lenders include: -First National -MCAP  -Street Capital  Not only can Brokers work with 3 of the 5 major banks, we also have access to monoline lenders. Here...

Variable Rates Variable Rates are based on the Bank of Canada's Prime Rate which is currently at 3%. The BOC meet quarterly and discuss whether to change the rate or not based on the Real Estate Market. Banks/Lenders then decide what Variable Rate they are...

  Major Banks are predicting that Interest Rates are going to rise which, as a result, will force housing prices to drop. Currently the housing market is offering historical low Interest Rates and based on what the banks are forecasting it would be a great time to...

Getting the Best Mortgage Rate What’s the trick to a better mortgage rate? That’s what folks at the Bank of Canada (BoC) wanted to know. It led them to undertake an extensive study on mortgage discounting. A draft of that study was released this month and below are its conclusions. All quotes that...

Figuring out the penalty on a fixed-rate mortgage is like solving a calculus equation. Homeowners who try often wind up hitting their head against hard objects in frustration. It’s been that way for years, and as many unwittingly discover, mortgage penalties can be disturbingly expensive. Historically, lenders...

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