Recent Posts
Contact
Pat Sawler
902-465-5533
HALIFAX OFFICE:
1959 Upper Water Street
Suite 1301
Halifax, NS B3J 3N2
SURREY OFFICE:
7404 King George Blvd
Suite 200
Surrey, British Columbia, V3W 1N6
Nova Scotia Brokerage 2021-3000179
Broker 2021-3000180
Backtracked!
This past week Canada Mortgage and Housing (CMHC) backtracked on an unpopular policy move they made at the start of the pandemic last year. They tightened underwriting guidelines to limit debt service ratio’s for insured mortgages to 35/42% of GDS/TDS. This is because last year CMHC incorrectly estimated that the pandemic would cause a softening […]
Win some lose some
Someone told me the following expression years ago and it applies perfectly to sales, “Some will, some won’t, so what, who’s next!” I had a prospective client come to me last week who told me upfront that she was talking with two other potential financial sources. Knowing that I was already in a competitive environment […]
Closing Time
Just like that seminal song by Semisonic, sooner or later there will always be closing times to important events in your life. School graduation, marriage, birth of children or buying or selling your home are all important events. One chapter is closing and another is opening before you. When you really think about it, major […]
Chattle Mortgages
Most people are familiar with traditional mortgages on your average home, however chattle mortgages are loans secured against movable pieces of personal property. In this instance we will be taking about mini homes or most commonly called trailers. Now when they are on their own land and on a foundation they are as easy to […]
Your Vacation Home
It’s that time of the year when we all wish we had vacations properties to go to for the weekend. Stick our feet up and relax and get away from it all. However truth to be told is that you can can purchase a vacation or second property now and with as little as 5% […]
Bitter End
So last night I stayed up and watched 3 periods of the Canadiens vs Las Vegas. At the end of regulation it was a tie game 2-2. Given it was about 2 hours past my normal bed time, I hit the sack before the start of the overtime period. Not realizing that it was only […]
90 Days History
This is just a short post to remind you that when applying for a mortgage the lender will require 90 days history to show your down payment. If you have more than one account, then 90 days from all your accounts. This is to prove that you did not borrow it and also did not […]
Closing
This is all there is today. Enjoy your closings you lucky people who won the bidding wars. Closing can be tedious but in the end it’s worth it. Today I am thankful for deals that are closing, new opportunities on the horizon and the possibility of travel again this summer. “A chaque oiseau, son nid […]
Creating your own down payment
Normally down payments can not be borrowed. However there are a few ways around this legally and ethically. So let’s first state that the down payment must be in your possession for 90 days and you must be able to provide bank statements to support that. You can borrow it from an existing line of […]
New House or new car?
The good weather if finely here and also now that phased reopening plans have started, this means that more and more people are out and about. I have noticed lately that lots and lots of people are shopping for a new vehicle, this is also coinciding with our current hot real estate market where it […]
Appreciation
Appreciation is the gift that keeps on giving. It is commonly said that people will do more for honest and sincere appreciation than they will for monetary compensation. Placement firms know this as it is challenging to entice someone away from a position where they are paid well and appreciated. Another example of appreciation at […]
Friends and Family
If I had friends or family opening a business I would support them. If it was a restaurant, it would be my restaurant. If friends opened a bakery it would be my go to bakery. The same could be said if someone opened a garden centre ( yes my family have a garden centre) a […]
Stress Test
The purpose of a stress test is see if you have any weaknesses that need to be addressed. Like those who have heart disease and are required to jump on the treadmill to see how their heart responds to exercise, we have a stress test( since Jan 2018) for those looking to purchase a home […]
Liar, Liar
What’s the age old expression, liar liar pants on fire. Let’s face it as humans we have all told a white lie from time to time. From did you do this to who ate the last cookie. I am not suggesting that you lie, exactly the opposite I am going to show you the consequences […]
Hurry Up, and Wait!
The mortgage business like many others is filled with moments of hurry up and wait. Hurry up I need you to take my mortgage application, but have to wait to receive the supporting documents in order to submit it for approval. Hurry up and get me approved, but have to wait for the underwriter to […]