Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
How much income do I need to qualify for a mortgage in Canada? + MORE Apr 18th
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119,.... More »
Splitting condo ownership fairly with your partner Jan 11th
Q: My girlfriend of three years and I are moving in together in the new year, once I close my condo sale. We both agree about my going on title, and I am hoping to also pay down some of her outstanding mortgage with some of my proceeds, and together we would also be splitting the mortgage payment.... More »
How much do you save with bi-weekly payments? + MORE Feb 7th
For years, we’ve been told to pay our mortgage bi-weekly. Magically, it will pay your mortgage off faster. Hmm, let’s put that to the test.
(SPOILER ALERT!) Around 10 years ago, I wrote an article showing some simple but effective math to explain this. I’m constantly getting e.... More »
Bank of Canada raises benchmark interest rate to 1.5%, noting trade tensions - CBC.ca + MORE Jul 11th
CBC.caBank of Canada raises benchmark interest rate to 1.5%, noting trade tensionsCBC.caFor the fourth time in a little over a year, the Bank of Canada has raised its benchmark interest rate, a move that will increase the cost of borrowing for Canadians with variable-rate mortgages and lines of cred.... More »
Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums + MORE Mar 22nd
Note: Mortgage insurance premium increases go into effect on March 17th, 2017.
If you’re applying for a mortgage with a small down payment, be prepared to pay a little more every month for default insurance.
The Canadian Mortgage and Housing Corporation recently announced it will increase the pre.... More »
Top Performers: Kelli Pardo
– canadianmortgagetrends.com
By Vanessa Chris, Special to CMT Some believe there are countless attributes that define a top performer in the mortgage industry, but for Kelli Pardo, only a few really matter. The key success ingredient for this Alberta-based Invis agent is establishing an airtight bond with clients, lender partners and referral sources. Throughout her five years in the mortgage brokering industry—and her previous 10 years with TD Canada Trust—Pardo was diligent at putting the human side of the business first. And that strategy paid off. “Brokers are a dime a dozen. You have to find a way to differentiate yourself…and, for me, it’s all about developing relationships,” she says. “This business READ MORE
Mortgage Career: True North Mortgage
– canadianmortgagetrends.com
Company: True North Mortgage Position: Salaried Mortgage Agent Location: Calgary, AB Send resume to: chad.riddell@truenorthmortgage.ca Salaried Mortgage Agent Company Overview: Salaried Mortgage Agent True North Mortgage is looking for a Salaried Mortgage Agent in Calgary, Alberta. Mission Statement: To offer Canada wide mortgages at best rates with friendly, informative and rapid service. Our retail locations enable clients to interact with our agents face to face.We offer a friendly work environment with a team based approach and team based bonuses. Job Description: Essential abilities: Willingness to work mall hours (some evenings and some weekends required) Residential mortgage industry experience; Friendly with READ MORE
Reduce debt and pay your bills to improve credit score
– moneysense.ca
OTTAWA – If you want to help improve your credit score, it’s a no-brainer that you need to start paying your bills on time and reducing outstanding debt.
But Gary Tymoschuk, vice-president of operations at the Credit Counselling Society, says you should also be careful about the amount of new credit you’re applying for.
“Don’t be out there applying for a Visa and a MasterCard, an American Express, new cellphone service and a new car loan and all these different things,” he said.
How your credit score impacts your mortgage application »
Tymoschuk said a flurry of inquiries over a short period of time on your credit report can be “a little bit of a red flag.”
“If you’re looking for a lot of credit, often times that can be a sign of a difficult challenging time in terms of managing your debt,” he said.
A credit report is a record of your past, including your payment history, how much you owe, how much new credit you’ve been searching for, the length of your credit history and the types of credit you have, Tymoschuk pointed out…
But Gary Tymoschuk, vice-president of operations at the Credit Counselling Society, says you should also be careful about the amount of new credit you’re applying for.
“Don’t be out there applying for a Visa and a MasterCard, an American Express, new cellphone service and a new car loan and all these different things,” he said.
How your credit score impacts your mortgage application »
Tymoschuk said a flurry of inquiries over a short period of time on your credit report can be “a little bit of a red flag.”
“If you’re looking for a lot of credit, often times that can be a sign of a difficult challenging time in terms of managing your debt,” he said.
A credit report is a record of your past, including your payment history, how much you owe, how much new credit you’ve been searching for, the length of your credit history and the types of credit you have, Tymoschuk pointed out…
Mortgage Career: Dominion Lending Centres
– canadianmortgagetrends.com
Company: Dominion Lending Centres Position: Director of Training, Western Canada Location: Port Coquitlam, BC Apply to: Jay@dlc.ca Director of Training, Western Canada Who We Are We are Dominion Lending Centres who through entrepreneurism, hard work and energy have become the largest Mortgage Brokerage in Canada achieving 40% Market Share in 10 years. In 2015, we funded $33 Billion in mortgages and helped 105,000 Canadians with their home financing needs from coast to coast. We have an incredibly innovative, competitive and fun head office team and are flat out looking for a fantastic team fit and one of the strongest trainers READ MORE
Mortgage Career: FICOM
– canadianmortgagetrends.com
Company: FICOM Position: Examiner, Mortgage Brokers Location: Vancouver, BC Apply to: Click here Examiner, Mortgage Brokers Join the FICOM team and make an important contribution to the economic stability of BC FICOM safeguards confidence and stability in British Columbia’s financial sector by protecting consumers from undue loss and unfair market conduct. We are responsible for administering nine statutes that regulate the pension, financial services and real estate sectors in British Columbia. For more information on FICOM, please visit the FICOM webpage. The Mortgage Broker team within the Real Estate and Mortgage Brokers department regulates the activities of B.C.’s mortgage READ MORE


