Mortgage Intelligence

Oshawa's Mortgage News Desk!

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Real Mortgage Story for September


Cameron and Chloe are both employed and residing in Durham region. Cameron’s two children from his previous relationship are living with the couple. Shortly after the couple got together, Chloe’s parents and brother, turned to the couple for support and ended up residing with them.

During this time, Chloe was injured at work and was unable to care for her parents. Further as a result of Chloe being off work, the couple were behind on their mortgage and utility payments. They filed for a consumer proposal but were unable to maintain payments. In addition, their home was going in to power of sale.

In an attempt to remedy their situation the couple contacted the team at with regard to refinancing their mortgage. Through the refinance the couple were able to pay off their consumer proposal, their outstanding collections and bring utilities upto date. The terms of their mortgage were:

  • Interest rate of 8.49% for one year
  • Monthly payments of $1,167.37 (interest only)

We were able to obtain financing through a private lender. In one year, we should be able to take them to an equity lender and obtain lower interest rates. Interest only payments will enable the couple to get financially back on track and re-establish their credit.

Whatever your financial circumstances maybe, it’s worth having a conversation with the experts at to find out the way forward for you. Contact us to speak to an expert today!


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Open House in Whitby

Open house at 1 Hialeah Crescent, Whitby on September 17 & 18, 2016, 2-4 pm. Drop by and checkout this great property.

Let Anna know that you saw our post!


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Bruised or poor credit holding you back from homeownership? 

Image by courtsey of

Image by courtsey of

Have you been in a situation where your debts have accummulated but you’ve not had to file for bankruptcy or a consumer proposal? Your bruised/poor credit feels like a heavy dark cloud hanging over your shoulder and holding you back from becoming a homeowner? Don’t assume that homeownership is out of reach for you, until you have spoken to a mortgage broker and had your financial circumstances assessed. Homeownership maybe possible, despite bruised or poor credit. Here’s what you need to understand:

  • You will be required have to least 20 percent downpayment (under certain circumstances this could be around 10 percent);
  • Interest rate will be in the region of 5 – 10 percent;
  • Show stable employment & monthly income;
  • Closing costs could include both lender & broker fees.

We can assess your situation and present you with solutions based on your financial needs. Contact the team at to speak an expert now.

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It’s September, sharpen your pencils!


It’s September and as green start to turn to gold, we return refreshed to the rhythm of our daily routines. That’s our seasonal cue… and Autumn is the perfect time to “get back to business” with a fresh look at your finances. It could be that you spent a little extra on that summer vacation, or what was supposed be a simple home reno job, grew in to a much larger project than you had anticipated… That’s okay. Get out your calculator and get back on track.

Mortgage rates have hovered around historic lows for longer than anyone thought they would or could. That’s created a golden opportunity for Canadian homeowners. In fact, the right mortgage can build your wealth… and save you thousands of dollars.

If your’re thinking about a cottage or an investment property? Wondering if it’s the right time to expand your space… or find a new one? Looking at ways to reduce your debt? Talk to the team at We’ll provide a free, no-obligation review of your situation – wherever you are in your current mortgage journey.

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5 ways to plug the money leaks!


The brisk back-to-work attitude of September makes it a great time to review your finances and particularly your spending. Whether you are saving to buy a home or pay one off, your “money leaks” can add up to some big bucks over time.  Here are five ways to find some of your missing money:

  1. Spending while unconscious. Track your spending and consider your impulse buys at the grocery, gas station, convenience and other stores; the services you are being charged monthly for that you don’t really use; or your brand name buying when generic will do. Look for the leaks, and then resolve to spend consciously. If impulse buying is a big culprit, always make a list and stick to it, only grocery shop once a week and never on an empty stomach!
  1. Convenience costs. It’s a lot easier to spend more than you intend to when you exclusively use your credit cards because you aren’t seeing the money. You just press some buttons and presto, your purchase is made. You might not be so liberal with your money if you actually had to hand it over. Consider withdrawing a fixed amount of cash for your spending every week.
  1. Examine your bills. Take a good hard look at your monthly bills and go through them line by line. Look for small, unexplained charges, fees, and add-ons. Some of them may be for services you don’t use or perhaps don’t remember requesting. Or they could be for services that you can actually live without. Even if the amount is small, why have it charged every month? 
  1. It doesn’t hurt to ask. Whether you are signing up for internet or buying a car, ask “is this the best you can do?” or “can you make it more affordable?” Do research in advance so you are prepared and knowledgeable on all things related to what you are buying.
  1. Plug your biggest money leak: high interest. All of the savings you make in lifestyle choices mean nothing if you don’t put a plug on paying high interest. Always pay down your credit cards as much as possible. If debt is choking your cash flow and you have enough equity in your home, you may be able to move that debt to your lower-rate mortgage and save thousands. If high interest debt is a big money leak for you, get in touch with the team at Using home equity to pay down debt is one of our specialties.

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Your mortgage could be a goldmine of potential savings

DB15036_financialconcepts_78997481A penny saved is a penny earned!  By making the right decisions, your mortgage could be a goldmine of potential savings.

With access to a broad spectrum of over 50 lenders, we’ll comparison shop on your behalf so you get the right combination of mortgage features and privileges that best meet your current needs, and offer you substantial opportunities to save money over the life of your mortgage.  Together we’ll look at term, fixed vs. variable, pre-payment and payment options, portability, assumability and any restrictions, penalties and fees.

Using your prepayment privileges and choosing a mortgage that has the most fair penalty should you want to get out of your mortgage early are tried-and-true ways to save money on your mortgage.

If you are like most homeowners, you are focused – for good reason – on finding the best possible rate.  Rate is important of course but cheapest isn’t always best. Some discounted mortgages come with very rigid contracts that could work against you in the future and actually cost you more in the long run.

You’ll also want to sharpen your focus at renewal time. Just as we did when we originally funded your mortgage, it’s important to investigate your options and make sure you are getting the best possible deal. Not auto-renewing your mortgage and making sure you get a fully discounted rate could save you thousands.

Also consider how much your time is worth. Time savings is a definite benefit of working with a mortgage professional. We look after every detail of your mortgage search and the negotiations on your behalf. Why not save time and money; let the experts at show you how!


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Buying a fixer upper? Protect yourself from “sink or swim” renovations!

DB15036_reno_78281188So you’re one of those buyers who absolutely loves older homes: the character, the unique architecture, the settled neighbourhood… and maybe the great value. But even older homes with “great bones” sometimes need a little renovation to turn them into the home of your dreams. Unfortunately, sometimes on top of the home purchase price, a few costly renovations can sink you.

Good news. We’ve got a mortgage to keep you happily afloat.

We can bundle the cost of those immediate renovations right into the mortgage: so instead of sky-high credit card and line of credit bills… you’ve got your mortgage and renovations looked after in one easy monthly payment.

It’s called a “purchase plus improvements” mortgage. It covers the sale price of the home, plus any renovations that would increase the value of the property, up to $40,000. You also get pre-payments – so you can pay off your renovation faster.

Contact the team at can take you through the process, so your mortgage and renovations go… swimmingly.