Tim Ward

Buying your first home is a daunting process, and chances are you've got a lot of unanswered questions. Congrats Cory! . . #mortgage #mortgages #mortgagebroker #mortgageagent #mortgagetoday #firsttimehomebuyer

Happy Halloween! Have a safe one . . #happyhalloween #halloween #mortgage #mortgages #mortgagebroker #mortgagetoday

Happy Thanksgiving . . #mortgage #mortgages #mortgagetoday #mortgagebroker #mortgageagent #thanksgiving

Happy Canada Day

The COVID-19 pandemic has meant some significant changes to mortgage qualification . . Having a professional on your side who is up to date with all the developments and can walk you through the process is key .... . Thanks for the kind words Emma! . . #mortgage #mortgages #mortgagetoday #mortgagebroker #mortgageagent #covid19 See more

Did you hear about changes to CMHC's insured mortgage (those with less than a 20% down payment) policies? There's some good news on this front. While CMHC's announcement reduces buying power for first time home buyers, or those looking to move up the property ladder, they're not the only mortgage insurer. There are two others in Canada (Genworth and Canada Guaranty), and they ARE NOT changing their policies. What does it all mean? Basically, carry on as if nothing has changed. If you are planning to buy with less than 20% down, there are other mortgage insurers who won't reduce your buying power.

Excellent news for home buyers: Genworth does not plan to change their underwriting policies in regards to credit score, debt servicing ratios or down payment source.

That’s like jacking up the minimum stress test rate from 4.94% (where it lies today) to 6.30%!

What really determines the rate you get on your mortgage, and why?

Is a 5% down payment on a home going to become a thing of the past?

https://www.canadianmortgagetrends.com//latest-in-mortgag/

All student loan borrowers will automatically have their loan repayments and interest suspended until September 30, 2020. Students do not need to apply for the repayment pause. For more intormattion: https://www.mortgagecentre.com/covid-19 #mcc #stayathome #flattenthecurve #studentloans

Canada Emergency Response Benefit (CERB) The government will provide a taxable benefit of $2000 a month for up to 4 months to eligible workers who have lost the...ir income due to COVID-19. There are two ways to apply: Online: https://www.canada.ca//s/benefits/ei/cerb-application.html Over the phone with an automated phone service: 1-800-959-2019 or 1-800-959-2041 #stayhome #flattenthecurve #mcc

Good news for families

Getting qualified for a mortgage when you're self employed can be tough with some financial institutions. . . My job is to know every option out there for you, so when your bank says no, I can get you approved. .... . #mortgage #mortgages #mortgagetoday #mortgagebroker #mortgageagent #selfemployedmortgage See more

Another 0.50% rate cut

These measures will definitely help some local residents

Each lender has asked clients to get in touch in different ways to defer payments, which can be confusing. Below is list of links for various lenders that outlines the steps you should take in order to defer payments: B2B Bank - https://b2bbank.com/covid19 BMO - https://www.bmo.com//pers/bmo-branches-coronavirus-update/... Bridgewater Bank - https://bridgewaterbank.ca/covid-19/ CIBC - https://www.cibc.com//covid-19/requesting-financial-assist CMLS - https://www.cmls.ca//learni/for-those-impacted-by-covid-19 Optimum Mortgage - https://www.optimummortgage.ca/en/client-services/covid-19 Equitable Bank - https://www.equitablebank.ca/covid-19 First National - https://www.firstnational.ca/residential/covid-19 Haventree - https://www.haventreebank.com/ Hometrust - https://www.hometrust.ca/statement-from-home-trust-on-covi/ HSBC - https://www.hsbc.ca/customer-service/covid-19-update/ ICICI - https://www.icicibank.ca/personal/covid/notice.page? Manulife - https://www.manulifebank.ca/support/financial-relief.html MCAP - https://www.mcap.com/covid-19 Merix - https://www.merixfinancial.com/marke/COVID-19-questions.pdf Marathon - http://marathonmortgage.ca/Contact/Contact_Corporate_Office RBC - https://www.rbc.com/covid-19/ RFA [Street Capital] - https://www.rfa.ca/covid19 RMG - https://www.rmgmortgages.ca/covid-19 Scotiabank - https://www.scotiabank.com//s/mortgage-payment-relief.html TD - https://www.td.com/ca/en/personal-banking/covid-19/ #mortgage #mortgages #mortgagetoday #mortgageagent #mortgagebroker #mortgagedeferral #deferral

Supports, such as mortgage deferrals, are available to homeowners in need during the COVID-19 crisis. Learn more about what this means: http://ow.ly/W3Nd50yVj1U

Please don't call unless you need immediate help.

If you need to get in touch with your mortgage provider to discuss relief options, you can find the customer helplines below: 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 Connect First 403-736-4000 Chinook Financial 403-934-3358 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 Meridian 1-866-592-2226 Merix/Lendwise 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 These lenders will be massively busy, so please be patient. Most of the employees of these companies are currently working from home in an unusual environment to them. They're human beings too, going through the same thing you are, so please be kind. They will help you however they can.