Amit Shah Mortgages

09/28/2023

Is your mortgage coming up for renewal in the next year or so? The recent changes in rates will impact everyone, in a fixed or variable. Don't wait until the last minute! Reach out today to discuss your options and prepare for an increase in your monthly mortgage costs.

09/28/2023

Getting pre-approved doesn’t just give you an idea of how much house you can afford, it also lets sellers know you’re a serious buyer. Let’s find out how much house you can afford. Give me a call to discuss.

07/03/2023

Roughly a third of Canadian first-time homebuyers have needed help from a family member to finance their entry into the housing market, new polling suggests.

06/09/2023

The Bank of Canada has raised its overnight target rate by 25 basis points, bringing it to 4.75%.

Banks and other financial institutions are expected to raise their prime rate in the coming days, which will increase rates for variable-rate mortgage holders.

What does this mean for those in variable-rate mortgages? It's an increase of $15.00 per $100K of mortgage. If you are feeling the pinch with your mortgage payments please reach out and we can review all your options.

06/09/2023

Commandment #10
Just when you think your mortgage has been approved, changing circumstances can bring up difficult complications that you might not have anticipated. I will be wrapping up with the final deal breaker I’ve encountered.

And lastly, Commandment #10

Don’t change bank accounts. It makes it difficult and time-consuming for brokers to verify your financial information – especially tricky for tight closings.

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06/05/2023

Commandment #9
Just when you think your mortgage has been approved, changing circumstances can bring up difficult complications that you might not have anticipated. I will be wrapping up with the last two deal breakers I’ve encountered. Most involve common sense. Others you might never imagine.

Commandment #9

Don’t change bank accounts. It makes it difficult and time-consuming for brokers to verify your financial information – especially tricky for tight closings.

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06/02/2023

Commandment #8

Just when you think your mortgage has been approved, changing circumstances can bring up difficult complications that you might not have anticipated. Over the coming days I will be featuring some of the deal breakers I’ve encountered. Most involve common sense. Others you might never imagine.

Commandment #8
Don’t make large or cash deposits without checking with your mortgage broker. Anti money-laundering laws are strict and can create roadblocks

05/24/2023

If you are up for renewal in a few years, don't panic, but don't ignore it either. There are things you can do to prepare. Contact me to find out more.

The central bank says most borrowers haven’t yet felt the sting of higher interest rates but that will change by 2026 when most will renew their mortgages

05/23/2023

Commandment #7

Just when you think your mortgage has been approved, changing circumstances can bring up difficult complications that you might not have anticipated. Over the coming days I will be featuring some of the deal breakers I’ve encountered. Most involve common sense. Others you might never imagine.

Commandment #7
Don’t generate inquiries into your credit. The more requests for information filed, the more discomfort for your potential lender.

05/20/2023

Commandment #6

Just when you think your mortgage has been approved, changing circumstances can bring up difficult complications that you might not have anticipated. Over the coming days I will be featuring some of the deal breakers I’ve encountered. Most involve common sense. Others you might never imagine.

Commandment #6
Don’t buy furniture or appliances unless you pay cash.