Mortgage Blog

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More borrowers could be at banks’ mercy

More borrowers could be at banks’ mercy

January 11, 2019 | Posted by: Mike Garganis

As mortgages come due over the next few years, borrowers will be in for a rude awakening. That’s because they will be stuck with their lender, unless, of course, they can pass the stress test e ... [read more]

More Canadians are unable to fulfill their financial obligations

More Canadians are unable to fulfill their financial obligations

January 11, 2019 | Posted by: Mike Garganis

A growing number of Canadians are finding it difficult to pay off their financial accountabilities, according to a report by the Office of the Superintendent of Bankruptcy late last week. In its late ... [read more]

High Ratio Mortgage vs Conventional Mortgage, which will save you more money?

High Ratio Mortgage vs Conventional Mortgage, which will save you more money?

November 9, 2018 | Posted by: Mike Garganis

You want to avoid High Ratio Mortgage Insurance..... For the most part, yes, as would I, however I did some calculating and believe it or not, if you are putting down exactly 20% on your purchase or ... [read more]

5 SECRETS THE BANK DOESN’T WANT YOU TO KNOW ABOUT YOUR MORTGAGE

5 SECRETS THE BANK DOESN’T WANT YOU TO KNOW ABOUT YOUR MORTGAGE

November 6, 2018 | Posted by: Mike Garganis

DON’T GET DISTRACTED BY THE SHINY RATE IN THE WINDOW No seriously, rate IS NOT everything... here’s why: There're many other features of a mortgage that have proven to be far MORE impo ... [read more]

Mortgage penalty calculations... More important than the interest rate!

Mortgage penalty calculations... More important than the interest rate!

October 1, 2018 | Posted by: Mike Garganis

You finally found the right home....after months of searching and driving your realtor nuts.   Now, you need to pay for it.  For most (if not all) of us, we need a mortgage.  What ... [read more]

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!

August 25, 2018 | Posted by: Mike Garganis

There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers ... [read more]

Mortgage renewal opportunities missed

Mortgage renewal opportunities missed

June 22, 2018 | Posted by: Mike Garganis

DON’T SIGN THAT RENEWAL AGREEMENT BEFORE SPEAKING WITH YOUR BROKER! Summer is a great time.  Vacations, time off, no school, sun and fun.  It’s also a time when most of our ... [read more]

5 Tips for First-Time Homebuyers

5 Tips for First-Time Homebuyers

May 28, 2018 | Posted by: Mike Garganis

Did you know that the majority of first-time homebuyers are Millennials?  That’s right; Canadians born between 1980 and 1995 now represent a full 77 per cent of first-time homebuyers. If yo ... [read more]

Firm or conditional offer: what’s right for you?

Firm or conditional offer: what’s right for you?

April 6, 2018 | Posted by: Mike Garganis

Conventional wisdom dictates you should make your offer to purchase a home conditional upon certain terms – that the home pass a home inspection within five business days of the offer, for examp ... [read more]

20% more mortgages are being denied by big banks, sending borrowers to alternative options

20% more mortgages are being denied by big banks, sending borrowers to alternative options

March 21, 2018 | Posted by: Mike Garganis

Stricter mortgage rules are sending borrowers towards more risky lenders that are out of the regulator's view. Mortgage brokers say the borrower rejection rate from large banks and traditional monoli ... [read more]

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Mike Garganis
Mike Garganis
Mortgage Agent
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