PG Mortgage Broker
1550 4th Ave V2L 5L7 Prince George, BC, Canada

This year we are going about things a little bit different. In an effort to help make a difference in our city, and in lieu of a thank you gift to each client after their mortgage completes, we will be donating $50 per mortgage to the Crisis Centre for Northern BC. The Crisis Centre for Northern BC is a volunteer based non-profit society that has been in operation since 1970. Their phone-line services are available 24 hours a day, 7 days a week. Along with being a crisis lin...e they also facilitate workshops and are a major community resource service with over 2000 resource listings on social services, self-help and support groups, health organizations, fraternal service groups, youth groups and activities, emergency services and more. While taking into consideration which organization we wanted to work with, it was hard to ignore the Crisis Centre. It came to our attention that the North has the highest suicide rates and our Crisis Centre receives the least amount of funding. Both of us have been touched by mental health and wanted to find a way to contribute to a brighter future. We deeply appreciate our past, current and future clients! It is with each mortgage that change can be made! Crisis Centre for Northern BC Michelle McCullough Jamie Cunningham

We are proud to be a part of this community and it is exciting to see some new growth opportunities popping here! And when your mortgage deal closes on your new house this could be a great way to start up a garden in the spring! https://www.princegeorgecitizen.com//free-seed-library-in- Also, does anyone know of any other new developments that are coming to town? Or do you have some ideas of your own that you would like to bring to life?

Sometimes unforeseen financial circumstances can impact your ability to make your regular mortgage payments. Or perhaps your debt has been caused by taking on too much other high-interest debt. Either way, it can be tempting to want to conceal your debt problem for as long as possible- but that is almost never a good strategy! Early intervention is a key component to overcoming your financial uncertainty. Lenders don't want to see you default on your mortgage and neither do w...e, we'd all much rather help homeowners find a way to keep their home. Here are several tools that have been identified as ways to help you ride out a period of financial uncertainty: 1- Converting a variable-interest rate mortgage to a fixed-rate mortgage to protect you in the event of a sudden jump in interest rates. 2- Your lender may be willing to offer a temporary payment deferral, or other flexible options for short-term relief. If you've made any lump-sum payments against your mortgage in the past or if you've been on an accelerated payment schedule- that history can help. 3- You may be able to extend your amortization period to reduce your monthly payments. You can shorten the amortization again later if your circumstances change. 4- If you've actually missed a few payments already, you may ask if the lender is willing to add them to the mortgage balance and extend the payment period accordingly. (Best, however, to start talking before you start missing payments) 5- A special payment arrangement unique to your situation may also be possible! Not sure where to start? Getting in touch and having a conversation is a great place to begin! As independent mortgage professionals, we work for our clients and look out for their best interest, not the lenders, and we know what the lenders are after.

The Bank of Canada has once again stayed the course on its benchmark policy rate, announcing no change to that key rate in its first announcement of the year but acknowledging that interest rates will need to increase. The next Bank of Canada announcement is March 2nd, 2022.

Feeling overwhelmed? That's normal. Our aim is to make a challenging time a little more hopeful. We know that for many separating couples, their home is their most important asset and we want to help you both move forward on a firm footing. Here are some key questions to consider: Are you hoping to stay in the existing home? ... Many couples assume that the house must be sold but that’s not always the case. Although mortgage rules only allow refinancing up to to 80% of the home value, a Spousal Separation Mortgage allows a buyout up to 95%- which helps make it easier for one partner to keep the home. This new mortgage can also provide a fair buyout, and possibly pay off other joint debt. Do you want to buy a new home? We can gladly assess your situation to see what you qualify for and what is affordable for you in your current financial situation. Will you need to boost your credit rating? A less-than-stellar credit rating can affect your ability to get the best mortgage rates. We can gladly discuss some quick strategies to help you polish your credit, and to build (or rebuild) your credit over time. Divorce or separation doesn’t need to spell the end of financial hope! Getting professional mortgage advice early on can help set the stage for a successful separation so the two of you can each make the best possible start on a new path. Please reach out to us today!

We are looking to add a Licensed Assistant to our team! This is a new position for us, which is exciting as we can learn and work together. We are looking for someone who is confident, personable and most importantly, empathetic with an innate ability to put themselves into our client’s shoes. The position does require the candidate to complete and pass the Mortgage Brokerage in British Columbia Course. The fee for the course will be reimbursed upon passing. If you are interested in the position we would love to hear from you. We can be reached at [email protected]

One may want to port their mortgage in order to avoid penalties, or if their interest rate is much lower than the current rates available. Contact us if you want to discuss whether this would be a good option for you.

We are very grateful that we get to work with some amazing people! Posts like this make our job very worthwhile! Thank you for trusting us with your mortgage!

*THIS IS ONLY FOR OUR RMG CLIENTS* RMG has monthly prizes that you could win! The prizes include things like: - $5000 HOME RENOVATION - PROPERTY TAX FOR A YEAR... - $5000 COMMUNITY GIVEBACK PACKAGE - $20,000 WORTH OF MORTGAGE PAYMENTS Participation is EASY! - Link to sign up: https://www.rmgmortgages.ca/myrmg/login - Make sure to click on ‘register’ - You will need to enter in the following: Mortgage Account number, last 4 digits of your bank account number and your last name Please let us know if you need help finding your mortgage number! Or if you have any other mortgage questions, we'd be happy to help!

*THIS IS SPECIFICALLY FOR OUR MERIX AND LENDWISE CLIENTS!* All you need to do is to SIGN UP or SIGN IN in ordered to be automatically entered into their DREAM GETAWAY CONTEST to win the following prizes in 2022! By SIGNING UP, homeowners earns ballot to win 2 ROUND-TRIP FLIGHTS (or $5000 cash)... By SIGNING IN, homeowners earn a ballot to win a $1000 mortgage prepayment The MyMortgageDetails homeowner portal is for our MERIX and Lendwise clients. Clients can sign up the day after their mortgage closes. All you need is your mortgage number, last 4 digits of your bank account and your DOB. This portal grants homeowners 24/7 secure access to everything they need to know about their mortgage, from the comfort of home or on the go! Using the MyMortgageDetails portal, clients can perform the following tasks: Live Chat with our Customer Service team View mortgage details (including current balance, and principal & interest paid) Request payment changes Update contact information Download their annual statements when they become available Receive tax information at their fingertips Access forms including PAD, Consent, Property Tax Access calculators and payment tools https://merix.mymortgagedetails.com/iPad_Site_SignUp.html If you have any questions or needs, we are always here to help you as well!

Your better days could be just ahead! Contact us today to get your mortgage started!

If you are a MERIX Financial or Lendwise customer this update is for you. Direct from Merix this morning: We are excited to announce that we have also launched our new Dream Getaway Contest for homeowners! If MERIX/Lendwise/NPX homeowners Sign Up or Sign In to MyMortgageDetails by May 1st, 2022 at 5pm EST, they will be automatically entered for a chance to win 2 round-trip flights or a $1000 mortgage prepayment in 2022!

A strong mortgage application will have a housing expense ratio (GDS) with no greater than 39%. (For the most part, the lower the ratio, the better!)

Here's a little something to start your weekend off with a smile! I hope that you all have a great weekend!

Face-off: Bank vs Broker! If banks and brokers were in a face-off there really would be no contest, brokers would win every time! That's a heck of a game advantage! But let's talk about why it happens because it's worth reminding ourselves why the smart money is always on the broker.

In the past we've taken the time to mail our clients, colleagues and lending partners a Christmas card to send well wishes and thank them for their support. However this year, like 2019, we wanted to do something a little different and give back to the community. Today we donated $1000 to Crisis Centre for Northern BC instead of sending out our Christmas cards. A society that is near and dear to our hearts. 2020 has been a different year for all of us and if you're ever feeling overwhelmed, depressed, confused or just need someone to listen; they are available 24/7 at 1-888-562-1214. We truly can't thank everyone enough for your support in 2020 and throughout the previous years. This donation was made possible because of all of you! Wishing everyone a healthy and happy holiday season

The Bank of Canada announced today that it is maintaining the benchmark rate, noting that Canada’s economic recovery will continue to require extraordinary monetary policy support. The Bank says it will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the two per cent inflation target is achieved, which the Bank doesn’t expect to happen until sometime in 2023. The next rate-setting day is January 20th, 2021. The beginning of the new year will be a great time to get in touch for a review of your mortgage strategy. It's important to get advice and a personal assessment of your situation if you want to switch your mortgage for a lower rate, need a new mortgage, are renewing, looking to refinance for debt consolidation, renovations or other large expenditures.

Do you have questions about a potential purchase, refinance, switch or even spousal buyout however aren't ready to reach out to us? Our website includes a blog with lots of great information. Check it out at www.pgmortgagebroker.com

Thank you! Thank you! Thank you!

5 reasons homeowners refinance their mortgage There has been a flurry of refinance activity this year given our rock bottom interest rates, providing homeowners with access to today’s low rates and the most cost-effective way to get needed funds. Refinancing means getting out of your current mortgage and replacing it with a new one. A minimum of 20% home equity is required to complete a refinance. There are several compelling reasons why homeowners refinance their mortgage: ... To get a lower interest rate. Refinancing to get a lower rate makes sense if the savings you achieve with the lower rate are greater than the cost of getting out of your existing mortgage. A much-needed financial reset. Debt restructuring is one of the primary reasons homeowners refinance. If you have too much high-interest debt that is strangling your monthly cash flow, you may be able to get the breathing room you need by rolling that debt into a new low-interest mortgage. You’ll get one manageable monthly payment, immediate cash-flow relief, and long-term interest savings. It is also a great way to improve and protect your credit score. Renovate. Homeowners are renovating to adapt to their new covid lifestyles, whether it’s to improve the quality of their lives, or for functionality like a new home office. At the same time, your renovations can increase the value of your home, a nice added benefit. Invest in the future. If you’ve found the perfect cottage or the retirement home of your dreams, refinancing may be the way to make that purchase happen if you’re not quite ready to sell your primary residence. Or perhaps you are thinking rental property for a long-term wealth building opportunity and a source of retirement income. You need funds. You may be able to get the funds you need for major expenses, like a new business, tuition, or wedding, often a better strategy than loading it all onto high-interest credit cards or an unsecured line of credit. Since breaking your current mortgage comes with a fee, it's best to contact me so we can determine whether refinancing makes sense. The fee to break your mortgage depends on several factors so it’s best to get in touch to discuss.

The Bank of Canada announced today that it is keeping the overnight rate steady at 0.25%. It is expected the Bank will keep this target unchanged until well into 2023 to aid our economic recovery. The next rate-setting day is Wednesday, December 9th. With this stable, low interest environment it’s never been a better time for qualifying homeowners to refinance to consolidate debt to improve cash flow, save interest costs and protect their credit scores.

PG Mortgage Broker is looking to expand and to bring another mortgage broker to the team. We would love to hear from you if you have any questions regarding what our career consist of or if you have already started your path to becoming a mortgage broker. We can be reached at [email protected]