19 Oct 2020

The title of this blog post isn’t mincing words. The photos below are ones from a listing I recently saw in Toronto, asking about $600,000. This, folks, is a dump with a capital “D”. (Keep scrolling, I promise this will be worth it)   While many of you may see a disaster, some of you…

09 Oct 2020

October 1st was the day that you can open a Personal Real Estate Corp, or PREC. Great. However, what does this mean for you as a Realtor trying to get a mortgage? That’s where things get…. interesting. Here is how we qualify Realtors today:   When a Realtor wants to finance a property, if they have less than 20%…

04 Jun 2020

News is coming out that CMHC may not change the 5% down rule, but may change how much of your income we can use to service the mortgage. This change will be equally onerous and destructive to first-time buyers since I don’t believe the Government can will prices to fall, therefore, buyers will remain renters until/unless…

20 May 2020

Holy ….. smokes.   Let me explain before I react.   CMHC is the government body that insures mortgages. To put it in the simplest of terms, when CMHC insures a mortgage, it means the bank essentially does not have any risk when it issues the loan. Of course there’s some risk carried by the bank but…

05 May 2020

First off – hope you’re all doing well. I know #COVID19 is not the best time for everyone out there. As the data keeps coming, things seem to get better, so let’s keep being smart and responsible! In the meantime… a rant. Why the hell are mortgage penalties so wildly different for the exact same…

02 Apr 2020

Ok. I get it. I know that most of you are going to be very angry at this post because it may seem like I am actually encouraging people to get out there and buy properties. I’m not. As a matter of fact, anyone who calls me asking for financing options, the first question I…

18 Mar 2020

As I wrote in my previous post, there is relief coming to help you with your mortgage, should you need it. I think a lot of people will jump at the chance. As a result, a lot of our lenders are going through extremely busy times. Let’s all be patient. In the meantime here’s a list…

18 Mar 2020

Welcome to the new normal. First, I want to acknowledge the strong leadership that we are seeing across all party lines. I want to say thanks to the thousands of Canadians who are working their butts off keeping us healthy and safe, at their own risk. The health-care staff, the operational staff, the store clerks,…

04 Mar 2020

Ahhh-chooo!! Not since 2008 have we seen a unilateral world-wide response to a global issue affecting our economy. Yesterday the Federal Reserve lowered rates by 1/2 in the US. Today, the Bank of Canada did what many thought there would be no chance of happening in 2020; Also cut rates by 1/2%. Here is what the Bank…

27 Feb 2020

Four Ways To Buy A House Without Money Today I’m going to talk about how to buy a house without any money. I know it sounds like a little bit of a trick, a gimmick, a “click-baitey” type of headline. Yup! You got it! If it walks like a duck and talks like a duck……