13 Oct

Psssst……….do you want in on a secret?


Posted by: Brandee McWhinney

I wanted to give you the inside scoop.  Got a minute? I have a lender that is offering this great new 10 year fixed rate mortgage. It is not for everybody…you need to the right set of circumstances in order to qualify for this, such as enough equity in your property or able to switch/transfer with minimal penalty, but the interest rate is the lowest ever at 3.99% for 10 years.

I know it is a 10 year term, but think of it this way the average 5 year fixed rate over the past five years has been 4.92%! The best Variable rate term with discount has been 3.90%! Think of the savings and security of knowing what your rate will be for the next 10 years. “This is Great!” If someone is thinking of buying a house or refinancing they need to know about this”

Not everyone is talking about this right now, and so it is some what of a secret.  This week a client of mine decided to opt in and the savings his family anticipates is over $16,000.  Imagine what you could do with $16,000?  How could it change your life? 

This 10 year rate is not going to be available forever, so I just thought, if you know anybody who’d be interested in a loan that could save them thousands of dollars over the term, you could let them know what a great opportunity this is.  This is one of the most attractive home mortgage programs I have ever seen and I just wanted to spread the word.



21 Jun

"Oh Sh$t Balls" in response to July 9th Mortgage Changes


Posted by: Brandee McWhinney

So the phones are ringing, the emails are flying and the tweeps are twittering.  This morning Mr. Flaherty made the following announcement to change mortgage regulations in Canada effective July 9th:

• Reducing the maximum amortization period to 25 years from 30 years

• Reducing the maximum amount of equity homeowners can take out of their homes when refinancing to 80% from the current 85%

• Limiting the availability of government-backed mortgages to homes with a purchase price of less than $1 million

• Fixing the maximum gross debt service ratio at 39% and the maximum total debt service ratio at 44%

One of the many advantages of using a mortgage broker is that my clients, most immediately affected by these changes, were contacted by me this morning.  We discussed their personal situations and we how we can protect them from these new rules during the transition.

My client Mr. X said it best, “Oh Sh$t Balls”.  In his circumstances, if he does not find a new home, get his offer accepted and his mortgage approved by July 9th he will need to start shopping all over again.  This time he will be looking at homes priced $70,000 less and his payment will be $315 more.  Crazy, right?

In fact, this may be a total game changer.  Now he might need to consider a Purchase Plus Improvements mortgage if he needs to buy a home that requires improvements to the property and have the cost covered by their mortgage payments.  Other people may need to consider securing a Home Equity Line of Credit now while they still qualify in case they need access to funds later for an emergency.

If you’d like to review your options or if you have any questions, please give me a call or send me an email, and I’ll be happy to discuss how these changes may affect your mortgage situation. It’s my job to ensure you have the best options and strategies available at all times.

13 Jul

Maple Ridge Townhouse that is Cheaper than Rent!


Posted by: Brandee McWhinney

Hello!  A client of mine has just purchased a home for her and her son to live in located in a neighbourhood she loves.  Her current home has been a great place to live and she loves her neighbours but it is now time to say goodbye.  Her townhouse has been very well maintained and your mortgage payment could be the same or less than what you are paying for rent right now.  Have a look. Gilley_Feature_sheet_pdf_version.pdf