General Mustapha Maynard 30 Mar
Why Are Mortgage Rates Rising? Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank […]
Read MoreGeneral Mustapha Maynard 4 Jun
If you want to buy a home and don’t have a bucket load of cash – you are going to need a mortgage. In order to get a mortgage, you are going to need credit… When you get a mortgage, banks lend you “their” money and secure the loan against the property you are buying. […]
Read MoreMortgage Tips Mustapha Maynard 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 […]
Read MoreMortgage Advice Mustapha Maynard 14 Feb
There are two different types of mortgages when it comes to their balance in relation to the value of your home- high ratio or conventional. When you applying for a mortgage, lenders use a ratio called loan to value. Your loan to value is exactly what it sounds like, the size of your mortgage in […]
Read MoreMortgage Advice Mustapha Maynard 7 Feb
Many of my clients and friends regularly ask me when or if they should consider a refinance. Here are 4 quick questions that I ask of them. The answer they give me, will very quickly tell me if we should be taking a deeper look at the mortgage refinance options available to them. What do […]
Read MoreMortgage Advice Mustapha Maynard 4 Feb
Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the mortgage broker has reviewed and approved ALL your income and down payment documents (as listed below) prior to you going house hunting. Many bankers will say you’re approved; you go out shopping and […]
Read MoreMortgage Tips Mustapha Maynard 30 Jan
Throughout the mortgage and home buying process, there are many steps and many checkpoints a buyer will need to complete before they can move on to the next one. A buyer will not be able to close on a purchase if they do not have a lawyer. Financing conditions need to be lifted after confirmation […]
Read MoreGeneral Mustapha Maynard 29 Jan
Your First Home. What a THRILLING thing that is to think about!! One of the best parts about our job is helping individuals purchase their first home. We know that the process can seem daunting at first, but we have an in-depth understanding and knowledge of what steps are required to make the process go […]
Read MoreGeneral Mustapha Maynard 22 Jan
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 […]
Read MoreGeneral Mustapha Maynard 21 Jan
Self-employed individuals are quickly becoming one of the most common clients that we handle. Daily we have successful business owners come into our offices who enjoy the perks of being an entrepreneur. One of these includes fantastic write-offs that allow them to bring their income down to a low tax bracket. However, this benefit can […]
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