Cold Lake

Cold Lake

Advice for credit challenged clients

In today’s economic climate of tighter credit requirements and increased unemployment rates taking their toll on some Canadians, there’s no doubt that many people may not fit into the traditional banks’ financing boxes as easily as they may have just a year ago. Your best solution is to consult your mortgage agent to determine whether your [...]

By |2017-01-04T01:02:18+00:00December 13th, 2013|Credit Bureau|0 Comments

Flaherty charges CMHC new risk fee on mortgages

Finance Minister Jim Flaherty is taking another step to curb taxpayers’ exposure to the housing market, by charging Canada Mortgage and Housing Corp. a new risk fee. As of Jan. 1, the Crown corporation will have to pay the government a fee equivalent to 3.25 per cent of the mortgage insurance premiums it writes and [...]

By |2017-01-04T01:02:18+00:00December 5th, 2013|Economy|0 Comments

CMHC Mortgage default Insurance

No one wants to inflate a housing bubble by encouraging folks who can’t afford the debt to buy. But many creditworthy first-time homebuyers are paying much more than they should have to for a significant portion of their housing purchase. When it comes to mortgage default insurance, Canadians get little choice and sky high prices, [...]

By |2017-01-04T01:02:18+00:00November 25th, 2013|Economy|0 Comments

Home sales dip in October as market cools

OTTAWA - Canadian home resales dipped last month for the first time since February in what many see as a signal that a so-called correction in the housing market remains in place. The Canadian Real Estate Association reported Friday that the number of transactions fell 3.2 per cent in October from September on a seasonally [...]

By |2017-01-04T01:02:19+00:00November 25th, 2013|Economy|0 Comments

Pay off your mortgage early

Let the financial dust settle and relax, then think about what options you have to improve and shrink your long-term debt from the mortgage Everyone wants us to be in debt. Shops want you to take on debt so you will buy more stuff, banks want you in debt for the interest they receive from [...]

By |2017-01-04T01:02:19+00:00November 24th, 2013|Mortgage Tips|0 Comments

Home Purchase with Renovation

Many lenders receive calls and emails from Mortgage Brokers about the  purchase plus improvements program this year as Alberta is leading the country on a national basis for the amount of money spent on home renovations. Definition Purchase Plus Improvements : When a client is purchasing a home and wants to add cosmetic changes through a renovation [...]

By |2017-01-04T01:02:37+00:00September 2nd, 2011|Mortgage Products|12 Comments