Resources

What is my minimum down payment and how does it affect my application? A down payment of between 5% - 19% of the purchase price is considered a “high ratio mortgage” because the loan amount compared to value of the home is greater than 80%. For this reason, banks require the borrower to purchase “default” mortgage insurance which protects the bank in case of default. This insurance is added to the total mortgage amount that the client borrows. A down payment that is 20% of th

Separation is one of the biggest life changes a person can go through. Along with the emotional side of things, there are often big financial decisions to make—especially when a home is involved. One of the questions I'm asked most often is: "Do I have to sell the house?" The answer is... not necessarily. In many cases, one spouse or partner can keep the home by completing what's called a spousal buyout. While every situation is unique, there are mortgage programs specificall

This is probably the question I'm asked more than any other right now. "Should I go fixed or variable?" The funny thing is, most people think the answer comes down to whichever rate is lower. It doesn't. Choosing between fixed and variable is really about your comfort level, your plans over the next few years, and how much uncertainty you're willing to live with. The "best" mortgage isn't always the one with the lowest rate. It's the one that fits your life. Right now, variab