Category Archives: Mortgages

New mortgage rules won’t apply to existing contracts.

I had a blog reader email me to ask if the new mortgage rules apply in a situation where he purchased a new home a year ago but won’t take possession until next year. His mortgage application is still in progress. … Continue reading

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New Mortgage Rules apply to ALL Buyers

I keep reading news articles about the new mortgage rules that suggest they only apply to buyers who have less than 20% downpayments. (Those are mortgages that are CMHC insured). I asked Cathy Macdonald, an Ottawa mortgage broker, if this … Continue reading

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New Mortgage Rules – and how they affect buyers

This just in from Cathy Macdonald, an Ottawa mortgage broker, about the effect of the today’s rule changes on buyers:   Significant Mortgage Qualifying Changes Announced Today Do you have buyers who are pre-approved and planning to buy at or … Continue reading

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Borrower Beware ….

I have a client who is also a friend of mine who has a lot of equity in his house and was looking to borrow against it. He ended up going to a lender that’s often advertised on TV and … Continue reading

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