Curtis Arnold
Your Family Mortgage Guy
Mortgage Updates and COVID-19
The changes for the stress test have been postponed indefinitely by the Federal Government in response to COVID-19. However, rates have decreased slightly making it easier to qualify for a mortgage.
I HEAR RATES ARE DROPPING, WHAT DOES THAT MEAN FOR ME?
As mortgage brokers, this the most common question we’re asked; what are rates are doing? That conversation can go several ways depending on how we think it affects you. But today, the rate drop is making buying a home and renewing a mortgage more affordable. BANK OF...
Breaking News: Federal Government Announces Changes To Stress Test!
Qualifying For A Mortgage Will Be A Little Easier The Federal Government announced earlier this week that they are changing how the stress test will be calculated as of April 6, 2020. Currently the interest rate used to qualify for an insured mortgage is 5.19%. This...
Mortgage Coming Up For Renewal?
There are basically three options when it comes to your renewal. Stay with your current lender Switch/transfer to another lender who has a better mortgage rate or product for you. Refinance to debt consolidate or take out some equity for renovations or investing etc…...
Why don’t we have a chart or the lowest posted rates like every other mortgage company?
The lending environment has changed greatly in the past few years, and rates today depend on many more variables: How much of a down payment you have, whether your mortgage will be insured, what your credit score is, and how severe a payout penalty you’re willing to risk. These are just a few of the variables that make up your final rate.
So rather than us posting the absolute lowest rate possible on the assumption that every variable works out in your favour, let’s talk so we can determine what your particular situation is and what your rate might look like. We’d much rather do that then publish a rate you’d be disappointed if it wasn’t available to you. It takes a conversation with an industry professional to explain the pros and cons of any rate being offered.
Call or email us today so we can discuss your personal situation.