Mortgage Blog

Working For You, NOT The Banks!
Monoline Lenders aren't so scary

Monoline Lenders aren't so scary

October 29, 2019 | Posted by: Mike Garganis

What usually follows once someone hears the term “Monoline Lender” for the first time is a feeling of suspicion and lack of trust. It’s understandable, I mean why is this “bank ... [read more]

These 3 clients broke their mortgages, paid a penalty, and still saved between $9,000 and $26,000!

These 3 clients broke their mortgages, paid a penalty, and still saved between $9,000 and $26,000!

September 24, 2019 | Posted by: Mike Garganis

Fixed mortgage rates are at an all-time low.  If you have a mortgage that is over 3.09%, then you should consider breaking it, paying the penalty and getting into today’s lower rates. ... [read more]

Mortgage Rates are still trending Lower… Yes, in August!

Mortgage Rates are still trending Lower… Yes, in August!

August 27, 2019 | Posted by: Mike Garganis

A couple years ago, the federal government brought in some tighter mortgage qualifying rules. The ‘stress test’ was just one of several changes, but it’s definitely the most well kno ... [read more]

Mortgage includes Self-Employed Business Income and Best Rates!

Mortgage includes Self-Employed Business Income and Best Rates!

August 27, 2019 | Posted by: Mike Garganis

This is probably the biggest positive mortgage lending change in 10 years. A major lender has just announced a new program for self-employed individuals! For the last several years, mortgage lenders ... [read more]

Fixed vs. Variable: Key Influencers of Mortgage Rates in Canada

Fixed vs. Variable: Key Influencers of Mortgage Rates in Canada

August 27, 2019 | Posted by: Mike Garganis

Fixed-Rate Mortgages A fixed-rate mortgage is when your rate stays the same for the duration of your mortgage term. For example, if you have a five-year, fixed-rate mortgage, your rate is s ... [read more]

Mortgage applicants can now qualify for a slightly higher priced home under stress test

Mortgage applicants can now qualify for a slightly higher priced home under stress test

July 29, 2019 | Posted by: Mike Garganis

For the first time in three years, the Bank of Canada has lowered its five-year qualifying mortgage rate, from 5.34 per cent to 5.19 per cent. This provides some slight relief for home buye ... [read more]

First Time Home Buyer Incentive Program

First Time Home Buyer Incentive Program

June 28, 2019 | Posted by: Mike Garganis

The First-Time Home Buyer Incentive helps qualified first time home buyers reduce their monthly mortgage carrying costs without adding to their financial burdens. You need to have the minimum down pa ... [read more]

Bait and Switch Mortgage Strategy

Bait and Switch Mortgage Strategy

June 10, 2019 | Posted by: Mike Garganis

When buying a home, you can encounter dangers at every corner: from thieves posing as lenders or lawyers, who usually prey on the elderly, to the old bait and switch.   Bait and switc ... [read more]

Finance Your New Construction Home at Prime Minus 0.80%!

Finance Your New Construction Home at Prime Minus 0.80%!

May 16, 2019 | Posted by: Mike Garganis

Before I get into the topic of new home financing, I want to share some positive news! The Ontario housing market is definitely alive and well! I’m seeing new properties come to market and disap ... [read more]

Looking out for Retirees

Looking out for Retirees

April 3, 2019 | Posted by: Mike Garganis

Parents and Grandparents have worked hard to turn their house into a home – it’s where they’ve built memories, and where they deserve to stay.  After working for 40 plus years ... [read more]

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Mike Garganis
Mike Garganis
Mortgage Agent
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