Mortgages by Balzor Singh

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Mortgages by Balzor Singh

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10/30/2026

Some mortgage myths just refuse to stay buried. ⚰️

You need a 20% down payment. The lowest rate is always the best choice. Your bank is your only option.

Three common mortgage misconceptions that deserve a final resting place.

In reality, eligible buyers may qualify with less than 20% down, the lowest rate doesn’t always mean the best mortgage, and your bank isn’t your only option. We can explore products from multiple lenders, each with different rates, terms and qualifying criteria.

Before making your next mortgage move, connect with your Mortgage Broker to separate fact from fiction and explore options that fit your needs.

10/28/2026

The Bank of Canada has officially changed course.

Following seven consecutive holds, the policy rate has increased by 25 basis points to 2.50%.

If a home purchase, mortgage renewal or refinancing is on your radar, now is a good time to revisit your numbers and see how today’s rate environment fits into your plans.

Wondering what this rate hike means for your mortgage? Connect with your Mortgage Broker for guidance tailored to your plans.

10/23/2026

10/22/2026

The scariest mortgage stories? The ones that aren’t even true.

Some mortgage myths have been haunting Canadian homebuyers for years. Let’s put three of the biggest ones to rest.

👻 Myth #1: You need a 20% down payment to buy a home.
Not necessarily! Eligible buyers can purchase a home with as little as 5% down, depending on the purchase price. A down payment below 20% typically requires mortgage loan insurance.

👻 Myth #2: You need perfect credit to qualify for a mortgage.
Your credit history matters, but a less-than-perfect score doesn’t automatically mean homeownership is out of reach. Different lenders have different qualification criteria.

👻 Myth #3: Getting pre-approved means your mortgage is guaranteed.
Not quite! A pre-approval gives you an idea of how much you may qualify to borrow, but final approval still depends on your finances, the property and the lender’s requirements.

The truth? Mortgage misinformation can be scarier than the mortgage process itself.

Have a mortgage question that’s been haunting you? Connect with your Mortgage Broker and get the facts before letting a myth make the decision for you.

10/20/2026

Bought a home with mortgage default insurance? That insurance could still have value when you’re ready to move again.

In Canada, mortgage default insurance portability may allow eligible homeowners to transfer their existing coverage to a new property, potentially reducing or eliminating the insurance premium payable on their next home purchase.

Depending on the insurer, timing and eligibility requirements, a premium credit may also be available.

Planning your next move? Connect with your Mortgage Broker to find out whether your existing mortgage insurance could help you save on your next purchase.

10/15/2026

Considering a co-signer for your first home? You’re not alone.

According to CMHC’s 2026 Mortgage Consumer Survey, 28% of first-time homebuyers reported having a co-signer.

While a co-signer may help you qualify for a mortgage, it’s a significant financial commitment for everyone involved. Understanding how co-signing works, the responsibilities it carries, and the potential risks is an important part of making an informed decision.

We’re here to walk you through the details, answer your questions, and help you understand what co-signing could mean for both you and your co-signer.

Considering a co-signer for your first home? Connect with your Mortgage Broker to understand your options and what everyone involved should know before making that commitment.

10/14/2026

10/13/2026

Did you know your mortgage might already have a feature that could help you pay it off faster and save on interest?

Many Canadian mortgages offer prepayment privileges, allowing homeowners to increase their regular payments or make lump-sum payments without penalties, within their mortgage agreement’s limits.

But not all mortgages offer the same flexibility, and knowing what’s available to you could make a difference in your long-term mortgage strategy.

Connect with your Mortgage Broker to find out what your mortgage allows and how you could make the most of it.

Address

204-2589 Cedar Park Pl Abbotsford BC
Abbotsford, BC
V2T3S4

Website

http://www.anchormtg.ca/

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