Mortgage blog.
Articles that answer the common questions, and case studies that work the same decisions through with real numbers.
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When should you start comparing a mortgage renewal?
Open the envelope right away. The time left before maturity is what gives you negotiating room.
Inspection or appraisal: two reviews, two purposes
The inspection works for you. The appraisal works for the lender. Both matter, for different reasons.
Refinancing: how much money you actually walk away with
From estimated value to the money that lands in your account: what gets taken off along the way.
Choose a term around your plans, not only the rate
A sale, a move, a repayment: the term length should follow your life, not just the best posted rate.
Mortgage penalty: calculate the cost before making a change
Before you sell, switch, or refinance: get a written amount, with a date on it, and add it to your costs.
HBP, FHSA, a gift, savings: where is your down payment coming from?
Every dollar of the down payment needs a source, a date, and proof. We put that together before the offer.
Renovations: choose the source of funds before work starts
Savings, line of credit, or refinancing: it depends on the work schedule as much as on the rate.
Set a purchase budget that leaves a reserve after closing
Start from the payment you want to make, and keep cash for costs, maintenance, and surprises.
Prequalification or approval: what is actually confirmed?
What a prequalification gives you, and what still has to be confirmed before the offer.
Fixed or variable: the question isn’t where rates are headed
Nobody knows where rates are going. Look instead at what your budget can absorb, and what the contract allows.
Debt consolidation: lower payment or longer debt?
Your current payments, the new mortgage balance, how long it takes, and the total interest. All four, not just the payment.
Financing condition: which dates should the offer protect?
How many days to give the financing condition, once you account for documents, appraisal, and the lender.