Brad Lockey, Mortgage Agent

06/09/2026

DJT (Dad Joke Tuesday's).
Please rate from 1 to 10 in the comments.

What are a computer’s favorite snacks?
(elapsed time for thought)
But of course, micro-chips and cookies, but only a few bytes of each.

Boom.
Laugh.
See you in 7 days.

06/08/2026

This is a fact based post, not doom and gloom.
It's time to talk. Call me.

Heads up - this is a targeted, political post.
And it's a reminder that elections have consequences, and you are living in, and through those consequences, and the federal government is not here to "save" you.

Since November 4, 2015, Justin Trudeau's official sworn in date as Prime Minister of Canada, the country has pledged the following dollar amounts to each of these other countries:

Ukraine = >$25,500,000,000 --> not currently in recession;
Ethiopia = >$2,100,000,000 --> not currently in recession;
Haiti = >$1,500,000,000 --> 8th consecutive year in economic recession;
Bangladesh = >$1,400,000,000 --> not currently in recession;
DR Congo = >$1,300,000,000 --> not currently in recession;

Therefore:
Canada has given >$31,800,000,000 (that's $31.8 billion) in "foreign aid / corruption" since November 4, 2015 and we now join only Haiti, in a recession.

If you don't think your vote matters, please read this post again.

It's time to talk, call me.

06/02/2026

05/05/2026

DJT (Dad Joke Tuesday's).
Please rate from 1 to 10 in the comments.

What do you call a bear with no teeth?
(elapsed time for thought)
A gummy bear.

Boom.
Laugh.
See you in 7 days.

05/04/2026

Question:
Hi Brad. Just coming around on this. I’d like to make a 100k payment to my mortgage. Unsure what is the best way or even if it’s possible without paying a potential penalty?

Answer:
All lenders vary in the amounts that can be prepaid without penalty. Your mortgage is with Scotiabank and here are their prepayment options:
- 15% of the original mortgage amount is allowed as a pre-payment without penalty, each year from the inception date.

Original mortgage amount of $330,000.00 * 0.15
= $49,500.00 each year

Therefore, if you were to apply the full $100,000.00, you would be paying a penalty on $50,500.00; and I do not like clients paying penalties.

Here is how I would treat this situation:
- if there is a balance on your credit cards, HELOC or any other line of credit, use the funds to pay that off IMMEDIATELY (highest interest cost paid out 1st);
- contact your Scotiabank branch and tell them you've got $49,500.00 as a lump-sum, mortgage prepayment and they will go into your account for your regular scheduled payment + the $49,500.00 on the next regular payment date;
- also ask your Scotiabank branch what the actual penalty would be if you applied the full $100k and exceeded your 15% (I'm curious to know this penalty amount too);
- anything leftover, put in a high interest savings account and repeat this process in December 2026;

Client Response:
Perfect response. I think I’ll go with the 49.5K.
What is it about Dec 2026? Is that essentially another year and I’m able to put another 49.5K towards mortgage?

My, further, response:
Indeed.
Dec 2026 moves you into the 2nd year of your term from your inception date, and that is when you can apply up to 15% of the original mortgage amount, without penalty.

It's time to talk, call me.

prepayment mortgageprepayment

04/28/2026

DJT (Dad Joke Tuesday's).
Please rate from 1 to 10 in the comments.

True story, Darth Vader had a brother who went to prison. What was his brothers name?
(elapsed time for thought)
Taxi.

Boom.
Laugh.
See you in 7 days.

04/27/2026

Divorce & Your Mortgage — What You Need to Know

There is a great deal more to discuss, but here's a punchy and point form 1-pager to help you start the process.

Dividing assets during a divorce isn’t simple, especially when the home is involved.
Here are key mortgage tips to protect yourself and plan your next move:

• Home equity is usually split 50/50
Options: sell the home or one spouse buys out the other.

• Keep paying all bills
Missed payments = damaged credit = harder (or impossible) to qualify for a mortgage.

• Separate finances ASAP
Close joint accounts, open your own, and check your credit report.

• You need a finalized Separation Agreement Lenders require this before approving any mortgage or refinance.

• Buying out your ex?
Know the numbers Agree on market value → subtract debts + selling costs → calculate equity.

• Qualifying solo can be tough
Support payments may help (or hurt) your application depending on your situation.

• Get it in writing
If you’re removed from the home, make sure you're also removed from the mortgage—not just the title.

Divorce is already expensive, so don’t let your mortgage decisions make it worse.
The earlier you get advice, the better your outcome.

It's time to talk, call me.

divorce divorcemortgage