New Mortgage

The 5 C’s of credit and how they impact your buying decision.

You have scrimped and saved and with the help of your Realtor you have picked out your house. Now comes the fun part, getting you approved for your mortgage. With the help from a experienced mortgage broker, you will be able to put your best foot forward and get approved for your purchase.  This involves telling the facts about who you are and where you work and how much you make, but it also involves telling a story about why you deserve and are able to pay back this loan. The right broker will help you do this.

It is like the old tale of a group of blind men (or men in the dark) touching an elephant to learn what it is like. Each one feels a different part, but only one part, such as the trunk or the … Read more

All you wanted to know about mortgages but were afraid to ask, part I


Not that it’s keeping you up at night, but I thought you should know

To some the idea of financing your first home may be daunting. Really it shouldn’t be. It’s just that the banks and other brokers or lenders may use finance terms that you don’t know what the heck they mean.

Downpayment: This is the cash that you have saved up to buy your home. This can come from your savings, your RRSP’s or from your family. Some situations as I have discussed in a previous article allow you to borrow it from your own existing credit, however this does not apply to all situations and all lenders.

LTV: Also know as loan to value. This one gets a lot of people confused if you are new to the game. It is the amount of … Read more

How to buy a house with none of your own money

More commonly referred to as creative down payment options.


Did you know that you can still buy a house in 2015 with no down payment (of your own money), cause sadly the days are gone where the zero down payment was available. So here are all the options including the one where you have spilled blood, sweat & tears and saved it yourself.

1) 5% saved from your own resources. You have worked long and hard and you have been able to put away a few dollars. If this is you I must congratulate you and say that you have job well done. However before you pat yourself on the back there are a few things you should know. The lender will ask for confirmation that you have had the funds in your position for at least 3 months. To … Read more

First time home buyer

Ma & Pa say it’s time to move out

Also known as yes you can afford your own place.

They think you’re ready, your significant other thinks your ready, heck even the family dog thinks your ready. Here is why they know that.

1) You have a good job and are getting a steady pay check.

2) You have credit established and pay all your bills on time.

3) You plan on buying something that should increase in value over time, unlike that Xbox you bought a few years ago.

4) You have put away enough to cover your downpayment.

That covers a few of the major C’s of mortgage borrowing right there, so you’re heading in the right direction. In case you were wondering the 5 C’s of credit are Collateral, Credit, Capacity, Character and Capital.

Now you should find out how much you can afford to buy. … Read more

Joyeuse Pâques & a Happy Easter

I hope the Easter bunny will be good to you.



 … Read more

Some days you’re the Steamroller

Other days you’re the pavement. Trust me this is not a decision that you want to put off till the end of the day. Just decide at the start of your day that you’re the steamroller and the rest of your day will go much better. images



Ps- Not every blog post will be a sales pitch for mortgages, cause I am not that kind of guy. I want to entertain and inform and occasional provide mortgage information.… Read more

Remember to breathe

You ever have one of those days where one thing happens then another, and all of a sudden it’s 4 o’clock. Well today was one of those days. Between another freak snow storm to start the day, to driving the kids to school, to power outages,  to broken wi-fi routers  and conference calls it’s now 4pm.

But we all have days like this so we have to remember to just slow down and breathe. We might think that we get more done if we rush but actually they just end up getting done half assed.

Here’s to making tomorrow better and more memorable. Going to hug my kids and forget about it.


Pat… Read more

Getting with the times

I know that it has been a very long time since I have last written a blog article. I have no excuse other than “stuff” got in the way. Anyway I am back with a new and improved website thanks to my good friends at Kim Squared.

Please take a tour and let me know your thoughts. I welcome any and all feedback. The new site is now able to be viewed on your mobile device of choice and as well as your computer.

I did a short test with a Facebook ad for my company fan page last month and discovered that over 92% of people viewed the ad on their mobile device. Yet at the same time my site and many others in the industry were only designed to be viewed on a computer.

I hope you … Read more

First Time Home Buyer

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Should you grow your nest egg or pay off your mortgage?

Sometimes the question arises that what is best option between growing on investment and paying off mortgage. Here I would like to suggest that one should take his own financial decision as per his or her circumstance. But, I will put my opinion in my own way as I see that staying out of debt has potential impact on anything I can do.

Somebody may speak rubbish when they tell you to stop paying mortgage since you forfeit your tax benefits on your mortgage. On the other side, some may suggest you to stop paying mortgage because you could utilize it for any high growth investment. This way, they suggest you the way to benefit from compounding interest. Instead of paying at low interest mortgage, you can invest in high return investment tools. This point of argument sounds good. But,

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