Home Tips Trish Pigott 30 Aug
More buyers are coming off the sidelines and looking to enter the market. Prices are high, so protecting your investment and home is more important than ever. What insurance will you need to protect your new home? A quick Google search will turn up title and home insurance entries. They each protect consumers but from […]
Read MoreHome Tips Trish Pigott 23 Aug
Although most credit card interest rates have not been affected by the recent surge in the prime lending rate, the fact remains that credit card debt is usually the most expensive debt you can have. The average is around 20%, and even the so-called ‘low interest’ cards carry a rate above 10%. Expediting the demise […]
Read MoreMortgage Tips Trish Pigott 16 Aug
While not the only factor to consider when choosing a mortgage, interest rates remain one of the more prominent decision criteria with any mortgage product. Understanding how mortgage rates are determined and the differences between your typical fixed-rate and variable-rate options can help you make the best decision to suit your needs. How Rates Are […]
Read MoreGeneral Trish Pigott 9 Aug
When purchasing a home, most offers include conditions or subjects, which are requirements or criteria to be met before the sale can be finalized and the property is transferred. Some of the most common subjects include: Financing approval Home inspection Fire/home insurance protection Strata document review if appliable The purpose of these subjects is to […]
Read MoreHome Tips Trish Pigott 2 Aug
If you want to up or downsize your home and are moving during your current mortgage cycle, keep a few things in mind. First, making any change to your mortgage during your mortgage term is considered “breaking” the mortgage. Portability If your mortgage is portable, moving up and scaling down will be much simpler. If […]
Read MoreGeneral Trish Pigott 26 Jul
When traditional lenders, such as banks or credit unions, deny mortgage financing, it can be easy to feel discouraged. However, there is always an alternative! If you’re seeking a mortgage, but your application doesn’t fit into the box of the big traditional institutions, you’ll find yourself in what’s commonly referred to in the industry as […]
Read MoreHome Tips Trish Pigott 19 Jul
Thank you to our partners at First National for a breakdown on the difference between the two. What is the difference between a Guarantor and a Co-signer? Guarantors are not on title to the property but will provide a guarantee to ensure the mortgage debt is being paid by signing the mortgage commitment and the […]
Read MoreGeneral Trish Pigott 12 Jul
The Bank of Canada announced this morning that the key interest rate will be raised another 25 basis points. This morning’s announcement will be the fifth interest rate announcement of 2023, but the 10th rate hike since the start of the tightening in 2022, with three more scheduled for the rest of this year. The […]
Read MoreHome Tips Trish Pigott 5 Jul
Before banks or lending institutions can consider loaning money for a property, they need to know the current market value of that property. An appraiser’s job is to check the general condition of your home and determine a comparable market value based on other homes in your area. Appraisals are required for any buy or […]
Read MoreGeneral Trish Pigott 28 Jun
A credit score is a three-digit number based on credit history and financial behaviour. Lenders use it to assess the risk of lending money to an individual. It is crucial in determining loan eligibility, interest rates, and loan terms. A higher credit score indicates that the person is more likely to repay their debts on […]
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