https://www.realtor.ca/blog/postpage/14024/1361/everything-you-need-to-know-about-reverse-mortgages Now more than ever, Canada’s experienced homeowners are tapping into their home equity in exchange for cash, a process known as a reverse mortgage.  Over the years, this type of mortgage loan has grown in popularity among seniors. In fact, in January 2020, reverse mortgage debt reached a new record of $4.03 billion, […]

So you need a mortgage.  The bad news is that mortgages have become more complex than ever!  So here are our Top 10 Mortgage Mistakes made by Canadians: 10 – Believing that FIXED rates are “safer” and VARIABLE rates are “riskier”.  This is a HUGE misconception, which I explain here. : https://mortgageoutlet.ca/fixed-versus-variable-the-mortgage-question 9 – Assuming […]

I’ve been meaning to write this blog post for many, many months – and I’m thrilled that I’m finally sitting down to do it. The good news is there is a simple answer to the fixed vs. variable debate.  Are you ready? The answer is… It depends. Ok, so that answer isn’t so simple, so […]

When a mortgage term is almost complete, banks send letters to their clients to ‘renew’ them into a new mortgage.  Signing this letter usually takes one minute – and most people don’t give it a second thought – but this decision could cost you thousands of dollars and could be one of the largest financials […]

Lately, I’ve been getting panic calls from real estate buyers (or their Realtors) to inform me that their bank was not honouring their mortgage pre-approval.  Pre-approvals have been failing more and more frequently.  Obviously, this creates tremendous stress for the buyer and Realtor, and this situation is becoming more and more common. Why is this […]