Mortgages by Laura

I am so grateful that Mortgage Design Group Inc. is so supportive of Taylor McDonald Mortgages and I chasing our dreams!

It's Mortgage tip Monday! What exactly is a refinance, and why would you consider refinancing your mortgage? Often people will refinance their mortgage to access some of the equity they have built up and use that money for other purposes. For example, one might refinance and use the funds to consolidate debt, complete renovations, help pay for education, purchase another home, etc. It’s important to keep in mind that your new loan amount cannot exceed 80% of the value of you...r home. An appraisal will likely be required to determine the current market value. Recently, clients of mine had high credit card debt that they were struggling to keep up with. We used the equity in their home to add that debt into their mortgage at a significantly lower rate. Even though their new mortgage amount was higher, rates had come down, so their new mortgage payment was lower even including the credit card debt. They finally felt like they could build their savings and get ahead! There are reasons to refinance your mortgage that don’t involve accessing equity, which can include accessing lower rates, lowering monthly payments, or changing borrowers (for example in the case of a divorce). There may be a penalty and additional legal fees involved in a refinance, but in some cases it still makes financial sense. A mortgage professional can help you do the math and provide advice on your options.

It's Mortgage tip Monday! Let's talk about getting a mortgage as a self-employed individual. Qualifying with self-employment income can be less straight-forward than as an employee. Your mortgage professional will have to review several documents from the previous 2 years to determine an accurate qualification amount. Please don’t skimp on this step of sending full documentation up front to avoid the disappointment and wasted time of shopping only to find out you don’t qualif...y! In general, as a sole proprietor, lenders will look at an average of your last 2 years’ net self-employment income (line 135 or 13500 on tax returns). Lenders know that sole proprietors have many write-offs, so to help mitigate this they allow for some increases to your net income, which will help you qualify for more. If you own an incorporated business, the income the lender will use to qualify depends on how you claim your income and what your down payment amount is. Still, lenders will look at a 2 year average of the income you are claiming along with your business financial statements to determine the appropriate amount of income that can be used. Without reviewing a full 2 years of tax returns and business documents, it’s impossible for a mortgage professional to give you a 100% accurate qualifying amount, and you should be wary of someone who claims to. It’s important to do your due diligence and provide documents up front to avoid being disappointed down the road. Aside from extra documents, the mortgage process as a self-employed individual is the same as for employees and I am here to help you navigate!

It's been a great summer! Thank you thank you to my wonderful clients and referral sources for putting their trust in me.

Happy Labour Day! In today’s world, there are many different types of income and all of them have different guidelines when qualifying for a mortgage. If you are an employee of a company, there are some basic principles to follow when determining what you qualify for. If you’re not sure whether you would be considered an employee, do you pay taxes from each pay cheque, and do you receive a T4? If yes, you are an employee. ... Salaried employees are the simplest to qualify. If your salary is guaranteed, you can use the full gross amount of your salary toward qualifying. If you earn any additional income that is not guaranteed - i.e. annual bonuses, overtime, etc - a 2 history is required to use that income. If you are an employee that’s paid hourly, if you receive guaranteed hours, lenders will use your hourly pay multiplied by your guaranteed hours to determine your annual qualifying income. The key here is that your job letter must state these hours are guaranteed, and your pay stubs must support that you are consistently receiving those hours. If you are paid hourly but you do not receive guaranteed hours and there are fluctuations in your hours worked, lenders will use a 2 year average of your income to qualify. Ideally, you have been in the same job for a minimum of 2 years, however if you have worked in the same industry in similar positions, your 2 year average may still be considered. To summarize - guaranteed pay can always be used, whether it be hourly or salaried. Fluctuating income that is not guaranteed requires a full 2 year average in order to be used. Contact me or comment below if you are unsure how your income will be considered when qualifying for a mortgage!

Hey, that's me! Anyone else out there share my love for cats?!

So, what IS the difference between a mortgage broker and going right to your bank? First, let’s set the record straight. Working with a mortgage broker is FREE to you! The lender pays us a commission for bringing your business to them. I still get people asking me what it will cost to work with me, so don’t let that misconception scare you away. Some other things to consider:... I don’t work for any one bank. I work for YOU. I have access to and knowledge of many different banks’ and lenders’ mortgage policies, so I do the shopping for you. This makes it easier on you and saves so much time and stress. We have access to many niche products that might be a solution for you when you’ve been told no by your bank. I only need to pull 1 credit report and can send the same one to multiple lenders to help keep your credit intact (be careful shopping around on your own!). I often work outside of regular banking hours to help accommodate your schedule, and can do everything virtually or in a convenient location for you. I’m here to be a point of contact for you when you have questions or concerns through the lifetime of your mortgage. I grow my business through referrals of happy clients, and saving my clients money makes them happy. I always work with YOUR best interests at heart .

I echo these thoughts from Taylor McDonald Mortgages! We are so glad we found SVPT Fitness & Athletics!

July was a great month! Thank you to my amazing clients and referral partners - I appreciate all of you more than you know!

Let’s face it, even with record-low interest rates, carrying a mortgage is expensive! Especially in the early days, a significant portion of your monthly payment goes toward interest and straight to the bank’s bottom line. To help build equity and keep that money in your own pocket, consider using your pre-payment privileges as frequently as possible. Most mortgages have 2 main types of privileges - lump sum payments and increased payments - and generally allow for 10% ,15%,... or 20%. If you have 20/20 privileges, you can make lump sum payments of up to 20% each year, and increase your monthly payment by up to 20% each year. Each time you add more to your monthly payment or make a lump sum payment, you reduce the interest paid over time and shorten your amortization period. Even using your privileges in what seems like a minimal way can have a huge impact! Each lender is different in how you can use your privileges - for example some only allow for one lump sum payment per year, others allow for unlimited. If you need help navigating what your lender allows and how your additional payments will impact your mortgage, contact me any time so we can help get you mortgage-free faster!

Thank you, Craig, for your kind review! I love what I do!

It's Mortgage tip Monday! What exactly is a refinance, and why would you consider refinancing your mortgage? Often people will refinance their mortgage to access some of the equity they have built up and use that money for other purposes. For example, one might refinance and use the funds to consolidate debt, complete renovations, help pay for education, purchase another home, etc. It’s important to keep in mind that your new loan amount cannot exceed 80% of the value of you...r home. An appraisal will likely be required to determine the current market value. Recently, clients of mine had high credit card debt that they were struggling to keep up with. We used the equity in their home to add that debt into their mortgage at a significantly lower rate. Even though their new mortgage amount was higher, rates had come down, so their new mortgage payment was lower even including the credit card debt. They finally felt like they could build their savings and get ahead! There are reasons to refinance your mortgage that don’t involve accessing equity, which can include accessing lower rates, lowering monthly payments, or changing borrowers (for example in the case of a divorce). There may be a penalty and additional legal fees involved in a refinance, but in some cases it still makes financial sense. A mortgage professional can help you do the math and provide advice on your options.

It's Mortgage tip Monday! Let's talk about getting a mortgage as a self-employed individual. Qualifying with self-employment income can be less straight-forward than as an employee. Your mortgage professional will have to review several documents from the previous 2 years to determine an accurate qualification amount. Please don’t skimp on this step of sending full documentation up front to avoid the disappointment and wasted time of shopping only to find out you don’t qualif...y! In general, as a sole proprietor, lenders will look at an average of your last 2 years’ net self-employment income (line 135 or 13500 on tax returns). Lenders know that sole proprietors have many write-offs, so to help mitigate this they allow for some increases to your net income, which will help you qualify for more. If you own an incorporated business, the income the lender will use to qualify depends on how you claim your income and what your down payment amount is. Still, lenders will look at a 2 year average of the income you are claiming along with your business financial statements to determine the appropriate amount of income that can be used. Without reviewing a full 2 years of tax returns and business documents, it’s impossible for a mortgage professional to give you a 100% accurate qualifying amount, and you should be wary of someone who claims to. It’s important to do your due diligence and provide documents up front to avoid being disappointed down the road. Aside from extra documents, the mortgage process as a self-employed individual is the same as for employees and I am here to help you navigate!

It's been a great summer! Thank you thank you to my wonderful clients and referral sources for putting their trust in me.

Happy Labour Day! In today’s world, there are many different types of income and all of them have different guidelines when qualifying for a mortgage. If you are an employee of a company, there are some basic principles to follow when determining what you qualify for. If you’re not sure whether you would be considered an employee, do you pay taxes from each pay cheque, and do you receive a T4? If yes, you are an employee. ... Salaried employees are the simplest to qualify. If your salary is guaranteed, you can use the full gross amount of your salary toward qualifying. If you earn any additional income that is not guaranteed - i.e. annual bonuses, overtime, etc - a 2 history is required to use that income. If you are an employee that’s paid hourly, if you receive guaranteed hours, lenders will use your hourly pay multiplied by your guaranteed hours to determine your annual qualifying income. The key here is that your job letter must state these hours are guaranteed, and your pay stubs must support that you are consistently receiving those hours. If you are paid hourly but you do not receive guaranteed hours and there are fluctuations in your hours worked, lenders will use a 2 year average of your income to qualify. Ideally, you have been in the same job for a minimum of 2 years, however if you have worked in the same industry in similar positions, your 2 year average may still be considered. To summarize - guaranteed pay can always be used, whether it be hourly or salaried. Fluctuating income that is not guaranteed requires a full 2 year average in order to be used. Contact me or comment below if you are unsure how your income will be considered when qualifying for a mortgage!

Happy Labour Day! In todays world, there are many different types of income and all of them have different guidelines when qualifying for a mortgage. If you are an employee of a company, there are some basic principles to follow when determining what you qualify for. If youre not sure whether you would be considered an employee, do you pay taxes from each pay cheque, and do you receive a T4? If yes, you are an employee. ... Salaried employees are the simplest to qualify. If your salary is guaranteed, you can use the full gross amount of your salary toward qualifying. If you earn any additional income that is not guaranteed - i.e. annual bonuses, overtime, etc - a 2 history is required to use that income. If you are an employee thats paid hourly, if you receive guaranteed hours, lenders will use your hourly pay multiplied by your guaranteed hours to determine your annual qualifying income. The key here is that your job letter must state these hours are guaranteed, and your pay stubs must support that you are consistently receiving those hours. If you are paid hourly but you do not receive guaranteed hours and there are fluctuations in your hours worked, lenders will use a 2 year average of your income to qualify. Ideally, you have been in the same job for a minimum of 2 years, however if you have worked in the same industry in similar positions, your 2 year average may still be considered. To summarize - guaranteed pay can always be used, whether it be hourly or salaried. Fluctuating income that is not guaranteed requires a full 2 year average in order to be used. Contact me or comment below if you are unsure how your income will be considered when qualifying for a mortgage!

Hey, that's me! Anyone else out there share my love for cats?!

So, what IS the difference between a mortgage broker and going right to your bank? First, lets set the record straight. Working with a mortgage broker is FREE to you! The lender pays us a commission for bringing your business to them. I still get people asking me what it will cost to work with me, so dont let that misconception scare you away. Some other things to consider:... I dont work for any one bank. I work for YOU. I have access to and knowledge of many different banks and lenders mortgage policies, so I do the shopping for you. This makes it easier on you and saves so much time and stress. We have access to many niche products that might be a solution for you when youve been told no by your bank. I only need to pull 1 credit report and can send the same one to multiple lenders to help keep your credit intact (be careful shopping around on your own!). I often work outside of regular banking hours to help accommodate your schedule, and can do everything virtually or in a convenient location for you. Im here to be a point of contact for you when you have questions or concerns through the lifetime of your mortgage. I grow my business through referrals of happy clients, and saving my clients money makes them happy. I always work with YOUR best interests at heart .

I echo these thoughts from Taylor McDonald Mortgages! We are so glad we found SVPT Fitness & Athletics!

July was a great month! Thank you to my amazing clients and referral partners - I appreciate all of you more than you know!

Lets face it, even with record-low interest rates, carrying a mortgage is expensive! Especially in the early days, a significant portion of your monthly payment goes toward interest and straight to the banks bottom line. To help build equity and keep that money in your own pocket, consider using your pre-payment privileges as frequently as possible. Most mortgages have 2 main types of privileges - lump sum payments and increased payments - and generally allow for 10% ,15%,... or 20%. If you have 20/20 privileges, you can make lump sum payments of up to 20% each year, and increase your monthly payment by up to 20% each year. Each time you add more to your monthly payment or make a lump sum payment, you reduce the interest paid over time and shorten your amortization period. Even using your privileges in what seems like a minimal way can have a huge impact! Each lender is different in how you can use your privileges - for example some only allow for one lump sum payment per year, others allow for unlimited. If you need help navigating what your lender allows and how your additional payments will impact your mortgage, contact me any time so we can help get you mortgage-free faster!

Thank you, Craig, for your kind review! I love what I do!

Your mortgage is up for renewal soon - now what?? We can hold rates for 120 days, so about four months from your renewal date is a good time to contact a mortgage professional. We can compare what your current lender is offering you to what else is out there in the market, and if you qualify under current guidelines, switching to a new lender to access a lower rate is generally free for you and a fairly simple process. Do NOT wait until you are closing in on that renewal da...te - it makes things much easier and less stressful to get an application in place a few months beforehand. If you wait too long, it may be too late and it could end up costing you thousands of $$$ had we had time to move you to a lower rate. We will take a full mortgage application and will need to submit current employment documents and documents pertaining to your property, but otherwise the lender, solicitor and I complete everything on your behalf! You will even get to meet a signing agent in your own home (or on your porch, or online, depending on your comfort with COVID safety) so that you are not inconvenienced. If your current lender is offering you a great deal, I will always be up front and tell you to take that offer so as never to waste your time. Often, however, there is something better for you out there, whether it be a rate or a product that suits your needs. Contact me about your renewal today and lets see if we can put some money in your pocket!

There has been a lot of buzz lately around the new CMHC underwriting policies that came into effect on July 1st. The key changes are: Limiting qualifying ratios to 35% Gross Debt Servicing and 42% Total Debt Servicing (previously 39% and 44% respectively) No more borrowed down payment Minimum credit score of 680 for at least one borrower... So, what does this mean for you as a buyer with less than 20% down payment who requires mortgage insurance? In short: nothing!! There are 3 mortgage insurers in Canada - Genworth and Canada Guaranty provide the same coverage as CMHC, and most banks and lenders will use all three. So, if you no longer fit under CMHC guidelines, your lender will instead send your file to one of the other two insurers. For something that generated a lot of worry, especially among those currently shopping the market, its not likely to affect you unless you are purchasing a property that both Genworth and Canada Guaranty dont want to lend on. But then again, if an insurer wont lend on your property, do you really want to buy it?? Headlines are just that - headlines! Let a licensed mortgage professional help you navigate the hoopla, I am always here to help.

Last time, we went through the details of a variable rate to help settle the score with some of the common fears related to variables. Today we are breaking down some of the pros and cons of variable rates - compare to those of fixed rates as posted on June 1st if you're unsure of what's right for you! Pros of variable rates: Benefiting from rate drops: You see immediate interest savings when the Bank of Canada lowers the prime rate. ... Lower payout penalties: In general, a payout penalty on a variable rate is significantly lower than that of a fixed rate. Remember, almost 7 in 10 5-year terms break early, and being in a variable could save you thousands and offer greater flexibility. Interest savings: Historically, people save more in variable rates than they do in fixed rate mortgages. Ability to lock in: If you need it, you can always lock a variable rate into a fixed rate if it makes sense. You cannot do the opposite if you are locked into a fixed rate. Cons of variable rates: Uncertainty: Even the best economists still struggle to predict what interest rates will do. This can make budgeting slightly harder in some cases. Payment could increase: If prime goes up, so does your rate, and so does your payment amount. Talk to your mortgage professional about whether a fixed or a variable is right for you. This is a personal decision with no right or wrong answer and the right person can help you navigate this process. Did you learn something today? Id love to hear from you in the comments!

It's Mortgage Tip Monday! Last time, we talked about fixed rates, which are a common option for many borrowers. Variable rates could be a great option for you, but they are commonly misunderstood. Variable rates are dependent on the Bank of Canadas prime rate. Your rate will be either a discount off of prime or a premium added to prime. When the prime rate changes, so does your rate and your corresponding payment. ... A common fear of variables is that your payment will skyrocket overnight. This is not going to happen! If prime rises, it is almost certainly going to rise by just 0.25%. On a mortgage amount of $300,000, this amounts to an increase of approximately $35-$40/month. Thats it. Sounds a little less scary now, doesnt it? Worried about several increases to prime in a short period? If this is actually happening, you always have the option to lock your variable rate into a fixed rate at any point in your term. The Bank of Canada meets 8 times per year on scheduled days, and generally, there is a feeling in advance if they will change the prime rate or not. What makes prime go up? Economic good news. As long as the economy is struggling, which it could be for a very long time due to this pandemic, you are not likely to see many significant increases to prime. If you are currently in a variable, dont change a thing! Our next Monday Mortgage Tip will help you understand some of the pros and cons of a variable rate, but I hope this helps you realize that variables really arent so scary! Did you learn something today? Id love to hear from you in the comments!

Im sure youve heard rumblings late last week about CMHC changing its underwriting policies, making it harder for buyers to qualify. The good news - there are options! While many people call mortgage default insurance CMHC because thats the best known company, there are 3 insurers in Canada. Genworth has confirmed they will stick with current underwriting policies and Canada Guaranty has not yet made a statement. This will be a huge help for those buyers on the edge of qualifying!

Thanks Mortgage Design Group Inc. for sharing this win for my clients earlier this year!

Mortgage Tip Monday! Fixed or Variable, which rate type is right for you? With a fixed rate, your interest rate is set for the entire length of your term. The most common term length is 5 years, meaning your interest rate and your corresponding payment amount do not change throughout those 5 years, regardless of whether rates are changing. ... Pros of fixed rates: Easy budgeting: With a fixed rate, you know exactly what your payment will be for a set amount of time, simplifying budgeting and planning. Rate protection: If rates go up during your term, your rate and payment remain low. Peace of mind: Set it and forget it! No need to watch rates or worry about them rising. Cons of fixed rates: No benefit from rate drops: If rates go down while you are in your term, you either cannot access the lower rates or will have to pay a penalty in order to access those rates. Payout penalties: Payout penalties are generally higher on a fixed rate than a variable rate. Of course, no one thinks of breaking their mortgage, but the reality is that more than 6 in 10 5-year mortgages do not make it to term. Less flexibility: Because of the higher (sometimes monstrous) penalties involved with a fixed rate, it can be harder to refinance and could keep you from accessing equity, accessing lower rates, or making any other necessary changes to your mortgage. Fixed rates are more popular, but variables are also widely misunderstood. Stay tuned to learn more about variables in my next Monday Mortgage Tip! Did you learn something today? Id love to hear from you in the comments!

This article is a great overview of some of the changes in how lenders are (or are not) approving mortgage applications during this pandemic. We've seen declines on files that would have been approved previously, more stringent guidelines, and extra documentation requests, so be prepared for added due diligence during this time.

Mortgage Design Group Inc. is holding a huge contest for the month of June! A signed and completed mortgage approval between June 1st and June 30th will be entered in a draw to win $500!! Contact me to get for more details and to start your mortgage application today!

Thanks for the chat, Nicole Cooper - Edmonton Real Estate Agent!

Join Nicole Cooper - Edmonton Real Estate Agent and I tomorrow morning for a quick mortgage update on Coffee with Cooper!

Mortgage Tip Monday - Payment Frequency! I should pick bi-weekly, because that helps me pay the mortgage off faster, right? This is one of the most common things people ask when signing mortgage documents, and unfortunately, the short answer is no. If you have a regular bi-weekly payment, there are 26 payments per year, and those extra payments make people feel they are paying it off faster. However, your bi-weekly payment amount is calculated by taking 12 months worth o...f mortgage payments, and dividing that number by 26. For example, if your monthly payment is $1,000/month, you would make $12,000 worth of mortgage payments over the course of a year. To calculate your regular bi-weekly payment, $12,000 gets divided by 26 = a payment amount of $461.54. In a years time, you pay the same amount with a regular bi-weekly payment as with a monthly payment. With an accelerated bi-weekly payment, you still make 26 payments in a year. However, your payment amount is calculated by dividing a years worth of payments by 24. So in the example above, $12,000 / 24 = $500. By choosing accelerated, you make 26 payments of $500 = a total of $13,000 per year and therefore paying the equivalent of one extra monthly payment. This extra amount goes toward your principal, and is what helps you pay off your mortgage faster and reduces the interest you pay. That means more money in YOUR pocket, not the banks! If your budget can handle it, choose an accelerated payment frequency! Without changing anything else, this option alone will shave about 2.5 years off a typical 25 year mortgage . Who doesnt want to be mortgage-free sooner?! Contact me today - I can look at your mortgage statement and tell you how much $$$ in interest you could save with this simple change!

Even if you never miss a payment, carrying balances close to or at your limits is going to seriously hurt your credit score!

Did you know? I'm a proud foster with the Edmonton Humane Society! Check out this little feature Curling Canada did on me and my "foster fail", Penny, for National Pet Month. Check out your local shelters and organizations for opportunities to foster - it's the best!

Mortgage Tip Monday! Last time, I talked about how your mortgage payment is broken down into an interest and principal portion. A better understanding of the factors that affect this ratio can help you make educated decisions that fit within your budget to increase the $$$ in YOUR pocket! Amortization: The longer your amortization period, the more you will pay in interest. Amortization is a fancy word for spreading things out over time. The most common amortization lengt...h, or how long you spread out your mortgage payments, is 25 years. Ask your mortgage professional if you still qualify at a lower amortization period and what the new payment amount would be (less time to spread it out = higher payment). If you are comfortable with the payment amount, you can save some serious $$$! Where you are in your mortgage: Your first payment will have the highest portion go toward interest. Each payment following will have slightly less going toward interest as you pay down the mortgage. You wont be making much of a dent in the principal in the early years of your mortgage if you simply follow your typical payment schedule. Make extra payments if you can! Payment frequency: Choosing an accelerated weekly or bi-weekly payment option will lead to less interest paid over time and your principal paid down faster. Principal balance: The amount of interest you pay is dependent on how much you owe. If you can utilize the options in your mortgage such as an accelerated payment frequency, increasing your payment, or making additional lump sum payments, your principal goes down faster. If your principal goes down, so does the interest you pay! Interest rate: This one is pretty simple - higher interest rate = more money paid to the bank. Find a mortgage professional you trust to help find you a great rate! Knowledge is power, and in this case, savings! Did you learn something today? Id love to hear from you in the comments!

It's the first Mortgage Tip Monday! With all this talk of mortgage deferrals during the COVID-19 crisis, some people are confused as to how much a deferral will cost them. When you defer your payment, the interest you missed gets added to your principal, and you end up paying interest on that interest! What the heck does that even mean?! Now is a great time to break down your mortgage payment. There are two components to each mortgage payment - interest (AKA the banks pocke...t) and principal (AKA your pocket). The interest portion is what the bank charges you to carry that mortgage. The principal portion is what actually pays your mortgage down, and therefore increases the equity you have in your property. With every payment you make, a percentage goes toward both interest and principal. The interest vs principal ratio of each mortgage payment is dependent on a few factors, for example your amortization length, where you are in your mortgage, your payment frequency, your principal balance, and your interest rate. The next Monday Mortgage Tip will break down how the ratio changes based on each of these concepts! Tune in every other Monday for more tips!

My clients received an email from me last week explaining this exact issue so that they weren't blindsided like the people in this article. These deferrals are NOT mortgage vacations. Especially if you are early in your mortgage, a very large portion of each payment is going toward interest. That amount still needs to be paid, and when it's added to your mortgage principal, you end up paying interest on that interest. Consider this and all of your options carefully and use the deferral option only if truly needed. Contact me if I can help! I am available by messenger, phone, text, email - all of the non-contact options to keep us all home and SAFE!

Happy Easter! We have a winner for our Be Kind necklace giveaway! The winner was randomly chosen from all entries on both my and Nicole Cooper - Edmonton Real Estate Agent's Facebook and Instagram pages. Congratulations to YEGfoodstop who entered on Instagram! Thanks to all who entered and helped us promote this great initiative for Mamas for Mamas through Paris Jewellers - Official Page!

Have you entered our giveaway yet?! Don't miss your chance to win TWO Be Kind Necklaces from Paris Jewellers - Official Page in support of Mamas for Mamas. Make sure to enter on the original post, pinned to the top of my page. Nicole Cooper - Edmonton Real Estate Agent and I are thrilled to be supporting Mamas for Mamas through this amazing initiative from Paris Jewellers. Mamas for Mamas is a specialized poverty relief agency and an all inclusive community for mothers and c...aregivers. They offer both community programs and individualized help, and provide a space where Mamas and their kids feel safe and comfortable when they come in for poverty relief support. Like them on Facebook or visit their website for more information: www.mamasformamas.ca We know that this is a difficult time for so many, and now more than ever we admire the mission and vision of Mamas for Mamas. In a world where you can be anything, be kind.

It's GIVEAWAY time!! We know that this is a difficult and uncertain time for so many, especially for the parents out there trying to juggle it all. In the spirit of spreading kindness, Nicole Cooper - Edmonton Real Estate Agent and I have teamed up in support of an amazing initiative for Mamas for Mamas through Paris Jewellers - Official Page to spread some kindness and joy! Paris Jewellers is generously donating 100% of the proceeds of its "Be Kind" necklaces to Mamas for M...amas, a charitable organization that supports mothers and caregivers facing poverty-related struggles. With Nicole being a mom of two boys and me expecting my first child, in trying times like these this is an organization close to our hearts that we are so happy to support. We want to spread kindness through all of you, our followers! You can win TWO Be Kind necklaces - one for you, and one to gift to someone that you know could use a smile right now. Because really cute jewellery WILL bring smiles! HOW TO ENTER: 1. Like this post 2. Spread kindness by letting a friend know you are thinking about them in the comments That's it! In a world where you can be anything, be kind. If you'd like to purchase your own Be Kind necklace to support this initiative, click here: https://parisjewellers.ca/18-stainless-steel-kind-bar-neckl Contest closes Saturday April 11th at 9 pm MT. One winner will be announced on Facebook at Mortgages by Laura and Nicole Cooper - Edmonton Real Estate Agent on Sunday April 12th in the afternoon. Winner can be chosen from Facebook or Instagram. This contest is not endorsed, sponsored or administered by Facebook. By entering, you release Facebook of responsibility and agree to the Facebook terms of use.

Did you know? I'm a competitive curler when I'm not busy with your mortgages! My husband and I were asked to answer a few questions for the Facebook fans of Curling Canada - check out this video if you want to learn a little more about us!

For those who have seen several rate cuts from the Bank of Canada lately and are confused by mortgage rates actually RISING instead of dropping, this article helps explain what's going on.

I will share this call when it's done, but if you're curious about this give Nicole Cooper - Edmonton Real Estate Agent a like! Thanks Nicole for giving me a call and allowing me to help educate!

This video has great information from one of Canada's mortgage insurers on the payment deferral option through this pandemic. Some media sources have been a little misleading so please keep in mind that this is not just an automatic payment vacation for everyone! There must be a need (lay offs etc) and each borrower is qualified on a case-by-case basis with their lender. You will need to get in touch with your lender directly to know if you are able to use this or a similar payment relief program. And please, please be patient with these lenders! They are dealing with an unprecedented amount of calls and emails and are doing their best to get to each one.

If you have concerns about your mortgage payment during these uncertain times, please see below for some further information. Remember that it may take some time to get through to your lender and everyone is doing their best right now. Please contact me if I can help!

Times are tough, and there's no denying that things are likely to get worse before they get better. I can service you and your mortgage needs through email and over the phone for your safety and the safety of our communities. Please feel free to contact me if you have any questions through this time, or if I can help you in any way - not just with your mortgage!

Well this just about brought tears to my eyes! Thank you Savanna and James!

Join us tomorrow night! Its FREE!

I love cheering on my husband as he chases his dreams in curling! So many people behind the scenes are a part of his win, just like so many people behind the scenes help me provide the best customer service I can with your mortgage. Contact me if you need suggestions to round out your team of professionals for your real estate transactions, I know some winners!!

RATE CUT! After the Bank of Canada's 50 basis points rate cut announcement yesterday, it was still up in the air as to whether the banks would pass on the full savings. We now know that the prime rate has fallen from 3.95% to 3.45%! Contact me if you're not sure if or how this affects you and your mortgage. https://www.canadianmortgagetrends.com//canadas-prime-rat/

Are you considering buying a home this spring? Don't miss out on this FREE informal event with Nicole Cooper - Edmonton Real Estate Agent that will help prepare you with all of the information you need to know. Every attendee will be entered to win a $250 Visa Gift Card! Click the link below to register!