CLIENT SUCCESS STORY: CHIP REVERSE MORTGAGES

General Janette Roch 8 Oct

A retired couple on fixed pensions found themselves struggling to make ends meet each month. Both were in good health and wanted to maintain an active lifestyle. They had spent their working years paying off their mortgage and had little saved in their RRSPs. Now both in their 70s, they’re mortgage free. They love their […]

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RAISE YOUR CREDIT SCORE IN 3 MONTHS

General Janette Roch 20 Aug

While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with brokers. He had a client referred to him by a mortgage broker who had a conundrum. She […]

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SOURCE OF FUNDS

General Janette Roch 2 Jul

Over the past several years, investigators have been working on an ongoing investigation relating to criminal money laundering in Canada. Looking at B.C. alone, billions of dollars have been laundered through B.C. casinos by criminal organizations and parked in high end B.C. real estate over the past decade or more. With government citing limited resources […]

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WHO REALLY SETS INTEREST RATES?

General Janette Roch 12 Jun

A recent article in the Huffington Post addressed the pricing strategy for the Big Six Banks, BMO, CIBC, National Bank, RBC, Scotia and TD and who really sets interest rates.  RBC announcing a rate drop in January and the other banks soon followed.  For consumers the banks are seen as leaders of the pack and […]

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HOME BUYER TAX CREDIT

General Janette Roch 7 Jun

When you purchase a home as a first time home buyer, you have a third benefit on top of the First Time Home Buyers’ Program and the Home Buyers Program- the Home Buyer Tax Credit. The Home Buyer Tax Credit allows you to claim $5,000 for the purchase of a qualifying home in the year […]

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WHAT IS AN UNINSURABLE MORTGAGE?

General Janette Roch 13 Mar

With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 categories: 1) Insured – a mortgage that is insured with mortgage default insurance through one of Canada’s mortgage insurers, CMHC, Genworth or Canada Guaranty. […]

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VARIABLE RATE? TO LOCK IN OR NOT?

General Janette Roch 4 Mar

This post applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then you should rush to ‘lock in’? You mean the economists that are employed by […]

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HOW TO GET A FREE COPY OF YOUR CREDIT BUREAU

General Janette Roch 11 Feb

Think of your credit score as a report card on how you’ve handled your finances in the past. A credit score is a number that lenders use to determine the risk of lending money to a given borrower. There is always someone willing to lend you money however, higher risk = higher rates! Step 1 […]

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WHAT IS A COLLATERAL MORTGAGE?

General Janette Roch 31 Dec

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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