22 Jan

THE TALE OF THE FORGOTTEN MONEY

General

Posted by: Tracy Luciani Price

Ever wonder what happens to bank accounts that are inactive, forgotten about and left unclaimed? The answer to that question is that you probably haven’t. I know the thought of it never really crossed my mind and I bet that would be the case for most Canadians. My initial thought was “Seriously? Who forgets they […]

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18 Jan

5 REASONS WHY REALTORS WANT YOU TO HAVE A PRE-APPROVAL

General

Posted by: Tracy Luciani Price

You’ve decided that you want to buy a home and you call up a realtor to show you a listing and the first question they ask is “ How much are you pre-approved for?” Many realtors will refuse to book home viewings until they can confirm that you are pre-approved. Why? 1- It shows that […]

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14 Jan

A SHIFTING MARKET… AGAIN

General

Posted by: Tracy Luciani Price

The recent data sure has changed the tone of rates in the coming months. The prime rate – what variable rates are based on, while a few short weeks ago was expected to rise three times in the next 18 months now with the data on the slowing of the market and uncertainty in projects […]

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14 Jan

3 THINGS FOR EVERY HOMEOWNER TO DO IN JANUARY

General

Posted by: Tracy Luciani Price

As we enter the New Year, there are a few things that we should all think about as homeowners. 1 – Replace your furnace air filter – if you read over the instructions for your furnace you will know that you are supposed to either clean or replace your furnace filter. We are three months into the heating […]

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20 Dec

5 WAYS YOU CAN KILL YOUR MORTGAGE APPROVAL

Mortgage Tips

Posted by: Tracy Luciani Price

So, you found your dream home, negotiated a fair price which was accepted. You supplied all the needed documentation to your mortgage broker and you are waiting for the day that you go to the lawyer’s to sign the final paperwork and pick up the keys. All of a sudden your broker or the lawyer […]

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19 Dec

CMHC CHANGES TO ASSIST SELF-EMPLOYED BORROWERS

Bank Industry News

Posted by: Tracy Luciani Price

As a self-employed person myself, I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018, the CMHC has said “Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond […]

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18 Dec

WHAT IS A COLLATERAL MORTGAGE?

Mortgage Tips

Posted by: Tracy Luciani Price

A collateral mortgage is a way of registering your mortgage on title. This type of registration is sometimes used by banks and credit unions. Monoline lenders, on the other hand, rarely register your mortgage as a collateral charge – which is an all-indebtedness charge that allows you to access the equity in the home over […]

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17 Dec

IMPROVING YOUR CREDIT SCORE

Mortgage Tips

Posted by: Tracy Luciani Price

Your credit score is a big factor when you apply for a mortgage. It can dictate how good your interest rate will be and the type of mortgage you qualify for. Mortgage Professionals are experienced helping clients with a wide range of credit scores so we can find you a mortgage product even if your […]

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13 Dec

WHAT IS A PROPERTY ASSESSMENT VS A HOME APPRAISAL?

Mortgage Tips

Posted by: Tracy Luciani Price

It’s the time of year when many homeowners are getting their property assessments. The real estate market is the single biggest influence on market values. Market forces vary from year to year and from property to property. The market value on an assessment notice may differ from that shown on a bank mortgage appraisal or […]

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