HOW TO AVOID COSTLY HOUSING MISTAKES DURING DIVORCE!Divorce is a very difficult and emotional time. Emotion and finances don’t often mix welltogether.What you need most are straight forward, specific advice about how divorce affects thematrimonial home, your mortgage and taxes making critical decisions easier.Professional, neutral third party information can help you make more logical, rather […]

THE TRUTH ABOUT THE ‘CASH BACK’ MORTGAGEWe often see ads from major banks offering cash back incentives of their mortgageproducts. Gone are the days where a cash back mortgage could be used to facilitate ahome purchase without the required minimum 5% down payment.Cash back incentives are now available for enticing uses such as new furniture […]

TOP 5 REASONS PEOPLE DON’T QUALIFY FOR A MORTGAGE There are many reasons for getting declined, here are the most common. 1. LACK OF DOWN PAYMENT: The minimum down is 5% of purchase price. This amount must be saved, not borrowed. However a gift from immediate family member is acceptable. It can also come from […]

WHY YOU CAN’T RELY ON A BANK MORTGAGE APPROVAL 1. PREAPPROVAL: Well it starts with the pre-approval you get from your bank. They tell you how much you can afford and you go out and buy a home only to get declined. Shocking? Embarassing? Yes both. But Why? Because the bank does not check your […]

KNOW WHAT’S SECURED AGAINST YOUR HOMEMost people don’t know it.It’s not disclosed at the time of sale and comes as a shock at time of refinance. And ithappens all the time.Nancy and John did a kitchen and bathroom renovation and put it all on their creditcards and (LOC) line of credit. The cost was $57,000. […]

COME CELEBRATE OUR 15TH YEAR ANNIVERSARYDear Customers, Friends and Community Partners please join us on Sunday October18th for our Customer Appreciation Day & 15 Year Anniversary Celebration from 1 to 4pm at our front parking lot on Tower Street.What fun it will be for all, and especially for us to see you and thank you […]

DISCOUNTED RATE MAY NOT BE DISCOUNTED AT ALL!  A recent client contacted us to improve their cash flow after a major renovation. They had used a loan and credit cards to complete the reno and now wanted to consolidate (lower) payments and improve cash flow. In other words, they were finding it ‘too tight’.   Their […]

    Phil and Sue recently received a renewal offer from their bank. They currently have a variable rate mortgage and they noticed that the higher fixed rate offer at 2.64% had a lower payment ($1,298.14) than the lower variable rate offer at 2.14% with a $1,482.17 payment. This didn’t make sense to them so […]

BUYING RESALE HOMES NOW A LOT EASIER!Our homes in time (usually within 10 years) become outdated. Today renovating yourcurrent home is more difficult because refinancing to do so is now limited to a maximumof 80% of value. Hence the only other option is to buy. Studies show that majority ofpurchasers of resale homes are not […]

BANKS STEALING FROM PRIME RATE REDUCTIONSWhen is enough, enough? Profit taking that is. Bank profits have been soaring endlesslywithout fail, quarter after quarter, year after year, and yet their appetite for more isunquenchable.Most recently, once again they have not passed on to the consumer the full value of thequarter point prime rate reduction by The […]