Pamela Woolger
10941 120 Street T5H3R3 Edmonton, AB, Canada

Never be afraid to ask a question about something you don’t fully understand. Our job as mortgage brokers is to answer any mortgage questions you have as your trusted professional. Email me for a copy of a free financial workbook!

With the weekend coming up why not challenge yourself to have some #freefun! Spending money on "fun things" is something we all do, but it can be one of the easiest things to try and cut back on at least for a weekend here and there! We put together some great ideas for having fun without it costing you anything. What’s one of your favourite things to do that's free or very inexpensive?

Did you know that November is Financial Literacy Month in Canada? Money can be intimidating but to me, knowledge is power! Follow along for the rest of the month to learn more - information and tips on managing your money, saving for a mortgage and your future are just some of the topics we will cover.

Sounds like low rates are going to be sticking around for some time now! The bank of Canada also keep their lending rate the same (since March 2020) at 0.25% this week. So what does this mean for you? Lower interest rates mean you will pay less in interest, putting more towards your principal and ultimately you will pay off your mortgage faster! We can help guide you through whether or not a refinance is an option and discuss payment strategies so you can put more of your m...oney to work for you. Save more, grow your savings account, save for the future or my favourite, take those savings and go on a vacation! #mortgages #mortgagebrokeryeg #yegmortgages #realestate #interestrates #homeownership #mortgagefree #advice #licensedprofessionals

The Bank of Canada has dropped its benchmark rate for the 3rd time since the pandemic, dropping to 4.79% (down from 4.94%) What does this mean for you? This 5 year benchmark rate is also the rate used to stress-test a mortgage loan. While you are likely to acquire a lower rate on your mortgage, the benchmark rate will be used for qualifying purposes. The mortgage stress test was implemented to ensure borrowers would be able to keep paying their mortgages if rates were to ris...e suddenly. So, when this rates drop you can (in most cases) be approved for a larger mortgage amount using the same amount of income. Talking to me about this and other details that make up a mortgage can save you time, money, and undue stress in trying to figure it out for yourself. Let me help you find a mortgage and lender that is right for you! #useabroker #mortgages #licensedprofessional #theAxiomAdvantage #yegbroker See more

A few days ago a letter from CMHC's CEO Evan Siddall to lenders was leaked to the media...it's very clear that the current government is NOT in favour of Canadians owning homes, they prefer social housing. Also, lenders have already tightened their lending criteria substantially in the past 4 years and this latest request makes no sense for Canadian or our economy.

Why use a mortgage broker? #1 reason is choice

Happy Father’s Day to all those amazing dads out there!

Well hello there weekend! I hope your weekend is full of love and fun with family and friends! (At whatever safe distance you are comfortable with)

Check out what I have to say about the recent CMHC changes

This is some promising new! CMHC has decided to change their qualifying guidelines but Genworth is not. This will give us an option for clients if they are struggling to qualify with CMHC's changes

BREAKING ANNOUNCEMENT - The Canada Mortgage and Housing Corporation (CMHC) has announced it will tightened its guidelines come July 1, 2020. What does this mean for you? If you have less than 20% down payment you are looking at an insured mortgage. CMHC, one of three Canadian Mortgage Default Insurers, has announced they will be looking at higher credit scores to qualify (at least one borrower must now score at 680 or higher); will be decreasing debt-service ratios (aka GDS/TDS or Gross/Total Debt Servicing; aka the amount of income going towards debt payment) to 35/42; and will no longer consider non-traditional sources of down payment (ie borrowed funds) that increase indebtedness as equity for insurance purposes If you are looking to purchase in the next couple months, inbox me on how these changes may affect you.

Is your insurance company offering 25% back on your auto insurance because of your reduction in drive time due to Covid? Mine is! If yours isn't, I would highly recommend contacting Kim Rurka- Van Huuksloot with Allstate Insurance!

You can log onto your CRA account and apply on April 1st

Tough times may be coming, if you feel like you are not going to be able to make your mortgage payments give you lender a call. No one wants to loose their home and it looks like the government will be stepping up to help as well. Here are some lenders and their customer service numbers, be prepared for some wait times! ATB 1-800-332-8383 B2B 1 800 263 8349... BMO 1-877-895-3278 Bridgewater 1-866-243-4301 CIBC 1-800-465-2422 CMLS 1-888-995-2657 Optimum 1-866-441-3775 Equitable 1-888-334-3313 First National 1-888-488-0794 Haventree 1-855-272-0051 Home Trust 1-855-270-3630 HSBC 1-888-310-4722 ICICI 1-888-424-2422 Manulife 1-877-765-2265 MCAP 1-800-265-2624 Merix 1-877-637-4911 Marathon 1-855-503-6060 RBC 1-866-809-5800 RFA 1-877-416-7873 RMG 1-866-809-5800 Scotia 1-800-472-6842 Servus 1-877-378-8728 Street Capital 1-866-683-8090 TD 1-866-222-3456

We know these are difficult times and many people are going to be struggling. If you think you may not be able to make a mortgage payment contact your lender. They are here to help! Here is a list of their numbers (and be prepared for a little bit of a wait time) ATB 1-800-332-8383... B2B 1 800 263 8349 BMO 1-877-895-3278 Bridgewater 1-866-243-4301 CIBC 1-800-465-2422 CMLS 1-888-995-2657 Optimum 1-866-441-3775 Equitable 1-888-334-3313 First Calgary Financial 403-736-4000 First National 1-888-488-0794 Haventree 1-855-272-0051 Home Trust 1-855-270-3630 HSBC 1-888-310-4722 ICICI 1-888-424-2422 Manulife 1-877-765-2265 MCAP 1-800-265-2624 Merix 1-877-637-4911 Marathon 1-855-503-6060 RBC 1-866-809-5800 RFA 1-877-416-7873 RMG 1-866-809-5800 Scotia 1-800-472-6842 Servus 1-877-378-8728 Street Capital 1-866-683-8090 TD 1-866-222-3456

We all need a little fun in our lives these days. Hope you have a great St. Patrick's Day!

Uncertain Times = Low Mortgage Rates! You don't even have to leave the comfort of your own home to find out if it makes sense to break you current mortgage, and start a new term with a much lower current rate. Contact me for a rough estimate of what your payout penalty might be and if it seems feasible I'd love to help you save money and help move your mortgage!... [email protected] See more

This was an unscheduled announcement! Bank of Canada issues another 50 basis points off overnight rate to be proactive during these uncertain times.

Great news for clients with variable rate and home equity lines of credit. You can likely expect some decreases in your rates! If you are looking for a new mortgage, let's chat about your rate options!