Ottawa Mortgage Expert

A mortgage is the cornerstone of a sound financial plan, and can help build long-term wealth. But with the mortgage marketplace getting more and more complex, you need the professional, expert and tailored advice of a Mortgage Broker!

DEBT 101: Good vs Bad It's important to know the difference! Taking on debt that will potentially pay you dividends in the future is considered good debt.... Bad debt is typically when you take money from your future self to buy goods and services today which provide you with no future income benefit. The right amount of good debt can help you build long-term wealth and afford the things you want, without taking on bad debt.

It's a good first step to find out how much you qualify for before you start house-hunting, but a mortgage pre-approval does not necessarily mean you'll get a mortgage. Get in touch - I'll take you through all the steps

The Bank of Canada announced today that it is maintaining the benchmark rate, noting that first-quarter growth was better than anticipated, although the rise of more transmissible variants of COVID-19 and new lockdowns are concerning. As vaccines roll out, consumption is expected to rebound sharply. The Bank will monitor the risks associated with our hot housing market, which is being driven by low rates, limited supply, and the desire for more living space. With rates still extremely low, it's a great time to get in touch for a review of your mortgage strategy. It's important to get advice and a professional assessment of your situation if you want to switch your mortgage for a lower rate, need a new mortgage, are renewing, or looking to refinance for debt consolidation, renovations, or other large expenditures.

If you are thinking purchase or refinance (i.e. to get a lower rate or for debt consolidation), get in touch as soon as possible to discuss your situation. Why? Uninsured mortgages (i.e. when have more than 20% equity) approved before June 1 are not subject to the new tougher stress test announced by OSFI last week, which means qualifying may be easier. This applies to purchases that close after June 1 with a signed purchase and sale agreement.

"Instead of rushing to complete your dream renovation, it’s important to prioritize taking on those tasks that will be good for the overall health of your home." Great advice! Make a list of renovation 'needs' and 'wants' and go from there.

Most Canadians suffer with their highest personal debt load at this time of year, when holiday spending credit card statements have arrived. You may be able to use your home equity to consolidate that high-interest debt (20% equity is needed) into your mortgage. With extremely low pandemic mortgage rates, every month you could be seeing a big difference: a boost to your monthly cash flow... one easy payment faster debt paydown, and potentially thousands of dollars in interest savings. I can crunch the numbers to see if this makes sense for you. It could be the start of a new financial life!

There are some common pitfalls among many first-time buyers who don’t seek out professional advice and guidance. When you work with a Mortgage Broker, you get the education you need to make informed decisions throughout the homebuying process. Knowledge is power and it’s best to get that knowledge as early in the process as possible. Are you getting ready to jump into homeownership? Let's have a conversation to make sure your experience is efficient, cost effective and, above all, successful!

RRSP contribution limits and more...

How optimistic are you?

An annual mortgage checkup is an important stepping stone for long-term success. It will help make sure you’ve: determined if you can take advantage of today’s ultra-low pandemic rates; looked at maximizing your mortgage principal reduction; ... consolidated debt for one manageable payment, improved cash flow, and interest savings (if you have enough equity); and, accessed the lowest-cost funds for large looming expenses. I'll help make sure your mortgage incorporates what may be ahead: it could pay big dividends and is the best way to get you where you’re going in your financial future. Book a consultation today!

Will prices go up or down? How about rates? Here are some predictions... but nobody can say for certain what the future holds. Stay focused on your goals and get in touch for expert mortgage advice tailored to your situation.

This is good info for anyone planning to buy their first home.

If you need help polishing your score so you can qualify for the best rates, get in touch.

The Bank of Canada has announced 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 or looking to refinance for debt consolidation, renovations or other large expenditures.