The latest from the team at Patching Mortgage

Best ways to shop for a Mortgage
There comes a time in everyone’s life where they go from renter to homeowner. This is not an easy feat for most people, and one

A Brief history of Interest rates
January 1, 2017: OSFI imposed onerous capital requirements on default insurers, thus disadvantaging many bank competitors (and consumers) by jacking up rates substantially on low-ratio insured

Worst question ever – What’s your best rate ?!
Securing a mortgage can seem daunting. There are many variables, charges, and procedures that one must go through to secure a loan in order to

Lets properly calculate your Mortgage
Once my clients are pre-approved, and we’ve determined how much they can borrow based on their yearly earnings I ask the most important question in

The Rule of 72
Of all the things you can learn about money –the rule of 72 should be at the top of your list. The Rule of 72

Why so many docs?
Banks and Lenders growing concern about fraud has caused lending institutions to make their regulations on documentation for mortgage approval much more strict. At the beginning

Popular Myths about Credit Scores
It seems all too often that people are telling me about their credit score, and from what I’ve heard, one will either brag about how incredibleit

But I have a pre-approval?!
The first step to many when looking for a property is to go to their Bank or BROKER, and ask for a pre-approval. A pre-approval lets

Why Me?
It’s funny anytime you bring up real estate prices with your parents, and they tell you they bought their first home for $150,000 20 years ago. And

Tax relief for First time home buyers
As of February 22nd, 2017 the land transfers tax exception increased its limit from $475,000 to $500,000 for First Time Home Buyers. I’m going to be

Turning Coal into your Diamond – Purchase plus improvements
Have you walked through an open house, and seen a property that’s almost perfect, but may be in need of an update, or a change before

Shopping around for a mortgage? Avoid these six common mistakes
Congratulations, you’ve decided it’s now time to purchase a new home. The first step is to get pre-approved, and look for the perfect mortgage solution