01 Apr 2021

Have you noticed lately that the headlines in today’s media are aimed squarely at our real estate market? Have you noticed how each article seems to paint real estate either in a negative light, the worst decision ever, you don’t want it anyways, or the best one yet: It is unpatriotic of you to not…

27 Feb 2021

We’re already two months into 2021 and finally we’re seeing some increases in interest rates (fixed-rates). When I say “finally”, I don’t mean this that I’m happy about it. On the contrary! However let’s face it: Low rates were not going to be here forever, and here’s what I want to make sure you know: Avoid…

10 Dec 2020

As we try and erase 2020 from our memories and run head-first into 2021, I’m actually quite bullish and optimistic about the housing market in a way that I haven’t felt in years past. Here are my reasons why that is, and I want you to tell me why I’m wrong (nobody likes a debate…

27 Nov 2020

I hate to sound like an alarmist but as we get to the end of 2020, I am noticing a trend among the hourly-wage and self-employed borrowers that will definitely impact their mortgageability next year. What do I mean by mortgageability? Well it’s a term I coined to describe how much mortgage you can get, and…

20 Nov 2020

One of my favourite lending programs that allow people to qualify for more mortgage than they would normally do so under traditional guidelines is by using net worth lending. It is what it sounds like: If you have net worth, you can (sometimes dramatically) increase your borrowing capacity if you have reached a ceiling with your income(s)….

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…