My phone has been ringing more and more the past few months with this exact question… “Shaun, should I be looking into locking in my below prime variable with rates as low as they are today?” In my opinion this is a very difficult question to answer, the reason for this is that if a
This past Saturday on the Radio Real Estate Show I suggested that people look beyond just the rate they would be getting on their variable rate mortgage. It is important to look into details such as what the conversion rate would be if you chose to lock-in, is the rate compounded monthly or semi-annually, etc. Too
During the process of getting a mortgage approval, you broker may require you to get an appraisal. Many times, clients respond with, “but I already did a building inspection. Does the bank want that report?” NO. Appraisal and building inspection are two different things. An Appraisal is the process whereby the bank sends in a
