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Blog by Linda M Linfoot

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Holding Companies vs Operating Companies

December 18th, 2013
“Holding” Companies vs. “Operating” Companies Why the Difference Matters to Mortgage Lenders While there may be a number of financial planning reasons for a business to own its real estate in a separate holding company, there is also a lesser known reason; namely, the ease of obtaining mortgage financing. While on the face of it, the scenarios of property held by an operating comp ...
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Posted in Mortgage Information

Mortgage Penalties

December 6th, 2013
The hidden trap of mortgage penalties at the big banks Thinking of buying a house? You may want to ditch your bank for an alternative lender. Rob Carrick explains – http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/the-hidden-trap-of-mortgage-penalties/article15774375/　 It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you won’t ...
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Posted in Mortgage Information

Collateral Mortgages - Beware

October 25th, 2013
Collateral Mortgages It was announced that a major Canadian Lender would be registering all new mortgages as “collateral mortgages”. Since, several others have followed suit. ·        So what exactly is a “collateral mortgage?” 1.              It’s a loan attached to a promissory note and backed up by the collateral security of a mortgage on a property. 2.              Collateral ...
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Posted in Mortgage Information

Self Employed - Qualifying for a Mortgage

September 25th, 2013
Self-employed? Prepare for a long conversation with your mortgage broker   Danny Bradbury, Special to Financial Post | 19/09/13 10:37 AM ET More from Special to Financial Post   Getting financing isn’t as easy as it used to be, say mortgage brokers — and for the 15% of Canadians who earn money for themselves without a steady employer’s salary, it’s harder still. Peter J. Thompson/Nat ...
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Posted in Mortgage Information

CMHC Housing Market Outlook for British Columbia in 2013 and 2014

August 16th, 2013
VANCOUVER, BRITISH COLUMBIA, Aug 15, 2013 (Marketwired via COMTEX) -- According to Canada Mortgage and Housing Corporation's (CMHC) Third Quarter Housing Market Outlook British Columbia Highlights report, housing starts in British Columbia are forecast to total 27,100 homes in 2013 and 28,600 homes in 2014. "Single-detached housing starts are forecast to increase this year and next. M ...
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Posted in General

The Cap on MBS Insurance

August 13th, 2013
Most Canadian mortgage lenders fund some portion of their mortgage lending using CMHC’s National Housing Act Mortgage Backed Securities (NHA MBS). That is, cash flows from mortgages are aggregated into investment securities and then sold to investors through a process called securitization. Payments from these mortgage backed securities are guaranteed by the CMHC, and therefore backed ...
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Posted in Mortgage Information

Why you still need a Mortgage Broker

June 11th, 2013
Why you still need a mortgage broker By WM | 04 Jun 2013 Investors are increasingly prepared to go it alone in this slower market where even the big banks are quick to whip out low rates to compete. But there are remain key reasons for using  mortgage brokers. W ...
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Posted in Mortgage Information

Your Credit Score

April 8th, 2013
Credit key when house hunting Make sure your score is in order before you set out to find a new home Winter can seem like an eternity. Yet when it comes to your credit profile, house-hunting and the spring real estate season is just around the corner.  "Warm weather will bring an increase in homes on the market and buyers shopping, so it pays to take steps to make sure your credit pr ...
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Posted in Mortgage Information

2013 Federal Budget: 6 key features of the budget

March 22nd, 2013
Federal budget 2013: 6 key features of the budget The Conservatives’ 2013 federal budget includes a job training grant, the elimination of CIDA, help for manufacturers and tariff cuts on sports equipment. Here are the key highlights. Spending restraint Finance Minister Jim Flaherty proudly noted the budget “contains the smallest increase in discretionary spending in nearly 20 years. ...
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Posted in General

TFSA

January 17th, 2013
New TFSA Contribution Limit for 2013     In 2013, eligible Canadians will have the opportunity to increase their contribution into a Tax-Free Savings Account (TFSA).  Investing in a TFSA allows you to grow your investments tax free by holding many of the same types of investments as in a Registered Retirement Savings Plan (RRSP). The maximum annual contribution for 2013 is $5,500[1].  ...
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Posted in General

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