Convert a home to a rental

Are you buying a home and want to convert your home to a rental property? Many clients buying a new home dream of keeping their existing home as a rental property. Qualifying for another mortgage plus maintaining the current one is more difficult with the rule changes. Consumers view things…

Prepayment Privileges?

Prepayment privileges allow a borrower to prepay a portion of the mortgage principal before it's due without a penalty. There are limitations to this. It's basically paying more than your agreed upon mortgage payment and is applied directly to the principal amount owing. Types of Prepayment Privileges If you have…

Prime Rate Drops

As you know, your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate and here is your personal update from me on the recent Bank of Canada announcement on changes to their Overnight Rate which in most cases impacts your Prime Rate. At…

Property Assessments

AB Assessments vs. Market Value Provincial Property Assessment notices have arrived in the mail, giving some homeowners a big smile and a bit more spring in their step (increased property taxes aside), while others wilt and lament at a modest gain or decrease in assessed value. Hold on a sec,…

Mortgage Surprises

5 Mortgage Switch Surprises to keep an eye out for. Switching your mortgage can save you thousands however choosing the right one can be a challenge. With the Government of Canada 5-year “bond rates” being all over the map, interest rates are changing daily. Lenders often have rate specials to…

Debt and Income

When qualifying for an Edmonton mortgage, your income, and debts that you have determine what purchase price you are able to buy at.  I hear quite often from clients that they have worked hard to build and maintain great credit, saved a down payment and are ready to make the…

Edmonton Mortgage Market

  As your trusted Edmonton Mortgage professional, I make it my duty to ensure that I am up-to-date on the latest housing market statistics for the city and its surrounding areas. If you’re considering getting into the real estate market in Edmonton, now may be a good time to do…