As an independent Mortgage Broker, my business is primarily based online. I work directly with my clients offering fast, personalized service. No waiting in line or having to book an appointment with your banker. With over a decade of experience in the Financial Industry, I have helped hundreds of people across Canada gain access to the most competitive mortgage rates and options available.

In this competitive market as a Real Estate Investor, I think it’s important to foster strong relationships with knowledgeable experienced advisors. I have built the foundations of my business on long term relationships with both my clients and business partners alike. Because my clients are important to me, I am committed to providing a “one of kind” experience.

I work with the Top Banks, Broker Exclusive lenders, Credit Unions, Finance and Trust Companies. Over the years I have built up a large portfolio of Private Investors and non-bank lenders for those who have credit challenges.

If you are in the market for a mortgage it would be a pleasure to provide you with all of your options in 10 minutes or less over the phone or by email.

Like my clients, I have roots that go deep into the community. I founded an animal support group (I have four rescue cats and a dog that I love dearly) and have been committee chair for the Humane Society. I have been a committee chair for a community multicultural organization, board member of a women’s shelter and most recently joined “100 Brokers who care”..




Thursday, March 14, 2013

Apply for a no obligation quote today while interest rates remain low


Thinking about purchasing a home? I can walk you through the process step by step, explain all of your options and all of the costs involved in making a home purchase. If you are first time home buyer you should know what you qualify for be...fore you start shopping. And with interest rates so low, I can even lock in your interest rate for 120 days. 2.89% for a 5 year fixed... WOW... what are you waiting for. Apply for a no obligation quote today.

Saturday, March 02, 2013

Win an Apple iPad Mini 16 GB Wi-Fi

$329 VALUE - See product details.

To enter the contest I need you to do three things for me...
1. LIKE my Facebook Page

2. Simply click on my google plus link below and click on "Write a Review" and write a review/testimonial on your experience with me.


3. Click on the link below or Email me at with your name, email phone number confirming you did both steps above so I can enter you into the contest.

http://www.mortgagesourcecanada.com/win-apple-ipad-mini.htm

Wednesday, February 13, 2013

Is a Costco membership worth it?

Is a Costco membership worth it?

Tax-Free Savings Account (TFSA)

Tax-Free Savings Account (TFSA)

The Smith Manoeuvre Debate

About one year back, I did a review of The Smith Manoeuvre (SM) book and noted that the book should have talked about the pitfalls involved with the strategy. Many financial planners have left comments disagreeing with my review (though I reviewed the book, not the strategy) and I challenged one planner to show me how a client implementing the SM will come out ahead in the worst-case scenario (this particular planner uses segregated funds, so he tells me the worst case scenario is 0% returns).

The planner’s client (let’s call him Joe) owns a house appraised at $350K and has a $260K mortgage on it. His monthly mortgage payment is $1,520. To implement the SM, the planner takes out a secured investment loan of $55K and invests the proceeds (less expenses) in segregated funds. To service the investment loan, Joe pays an interest of $275 per month.

To make an apples-to-apples comparison, I am going to assume that Joe can make an extra payment of $275 towards his mortgage principal. If Joe can find an extra $275 savings for the SM, he can find a similar amount for a mortgage pre-payment.

After five years, let’s assume that Joe’s home is still worth $350K (the home’s value doesn’t affect the outcome). If he had opted for an accelerated mortgage pay down, he would have a mortgage balance of $211K and he has a net worth of $139K. If Joe had implemented the SM instead, after five years, he would own the $350K home, an investment portfolio of $99K and a loan of $321K, leaving him with a net worth of $128K.

What about after 10 years? With mortgage pre-payments, Joe’s net worth would be (Home:$350K – Mortgage:$149K) $201K. The SM would leave him with (Home:$350K + Investments: $160K – Loan:$321K) $189K. Even after 15 years, Joe would be better off with a mortgage pre-payment (net worth of $280K) than the SM (net worth of $270K).

Now, surely over 20 years Joe would have come out ahead, right? Not really. With pre-payment Joe now owns his home free and clear. The SM also results in a mortgage-free home, but Joe now has a portfolio of $346K and an investment loan of $321K and a net worth of $375K. But, the key difference is that Joe hasn’t made a mortgage payment for 17 months, which if he had saved would have added an extra $31K to his net worth.

The point of this exercise is not to show that the SM doesn’t work but that it entails taking a small risk, not any risk at all as many planners claim. You should also note that this particular SM example involves a higher leverage and would become risky if a severe real estate downturn should occur. Also, while segregated funds may give you peace of mind, it also comes with a higher price tag. If you are earning 8% in the markets and giving up 3% in expenses, you would probably just break even with the SM. I’ll close with a comment made by David Trahair, author of Smoke and Mirrors, in a recent Toronto Star column: “It’s a high-risk strategy because you’re betting the farm that some investment adviser can do better than you can. You have a guaranteed return from getting rid of the mortgage.”

The Smith Manoeuvre Debate

Thursday, January 24, 2013

Refinace changes come home to roost

A new report identifying a spike in consumer loans may be the strongest indication refinance rules are forcing Canadians into higher-interest borrowing.


Fourth quarter 2012 saw a 3.2 per cent rise in non-mortgage loans compared to the year-old period, according to Equifax’s latest National Credits Trends study, released Thursday. That’s over and above the near-2 per cent climb recorded between July and September – again a year-over-year comparison.

That new debt came in the form of bank loans, lines of credit, car leases and credit cards, says the report. Those loans generally carry interest rates as much as 1,800 basis points higher than mortgage debt.

The grow starting in Q3 coincides with the introduction of the government’s latest round of mortgage rule changes, which reduced the ceiling on refinances to 80 per cent loan-to-value from the then 85 per cent.

Brokers have argued the move as detrimental to borrowers looking to manage debt without resorting to the kind of high-interest credit cards that may have contributed to their financial woes in the first place.

Those mortgage professionals are likely to find support for their conclusions in this latest Equifax report.

Still the study does offer some good news for an economy still grappling to contain rising household debt levels – ostensibly, the reason the government introduced those more stringent mortgage rules in July.

The percentage of unpaid non-mortgage debt in arrears, or more than 90 days past due, stood at 1.19 per cent in the fourth quarter, down slightly from 1.22 per cent in Q3.



Wednesday, January 09, 2013

Canadian Housing Starts to Moderate, Resales Stable in 2013

OTTAWA, November 5, 2012 — Canada’s new home market is expected to continue to moderate in the last quarter of 2012 and into 2013. Meanwhile, activity in the existing home market is expected to hold steady, leading to house price growth in line with or slightly below inflation, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter 2012 Housing Market Outlook, Canada Edition.

“A weaker outlook for global economic conditions and the waning of the effect of pre-sales from late 2010 and early 2011, which contributed to support multi-family starts this year, will bring moderation in housing starts next year. Nevertheless, employment growth and net migration will help support housing starts activity going forward,” said Mathieu Laberge, Deputy Chief Economist for CMHC.

On an annual basis, housing starts will be in the range of 210,800 to 216,600 units in 2012, with a point forecast of 213,700 units. In 2013, housing starts will be in the range of 177,300 to 209,900 units, with a point forecast of 193,600 units.

Existing home sales will be in the range of 449,200 to 465,600 units in 2012, with a point forecast of 457,400 units. In 2013, MLS®2 sales are expected to move up in the range of 433,300 to 489,700 units, with a point forecast of 461,500 units.

The average MLS® price is forecast to be between $363,200 and $367,000 in 2012 and between $363,100 and $377,900 in 2013. CMHC’s point forecast for the average MLS® price calls for a 0.2 per cent gain to $365,100 for 2012 and a 1.5 per cent gain to $370,500 for 2013.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.