Mortgage Blog

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Category: Mortgage Questions (54 posts)

Can I Trust Mortgage Broker?

Can I Trust Mortgage Broker?

May 21, 2024 | Posted by: Ron Chan

We’re glad that you asked this question. It shows that you’re suspicious when it comes to any “agent” of the home buying process, which will serve you well in getting the bes ... [read more]

Questions to Ask Mortgage Broker in Winnipeg Manitoba

Questions to Ask Mortgage Broker in Winnipeg Manitoba

April 18, 2024 | Posted by: Ron Chan

You’re ready to pick up the phone and call a specialist regarding your desire to invest in a home. But as someone who prides themselves in being prepared you’re wondering if you should p ... [read more]

Should I Use a Mortgage Broker to Refinance in Winnipeg?

Should I Use a Mortgage Broker to Refinance in Winnipeg?

March 7, 2024 | Posted by: Ron Chan

Refinancing a mortgage replaces an existing home loan. A homeowner desires refinancing to get better terms than the original. While this improvement is generally in reference to interest rates, you ... [read more]

Will My Mortgage Automatically Renew in Winnipeg?

Will My Mortgage Automatically Renew in Winnipeg?

March 7, 2024 | Posted by: Ron Chan

The months and years have passed swiftly and it dawned upon you that your mortgage renewal for a property in the Winnipeg area is coming up. Given that your home is your first home, you are not cert ... [read more]

Can My Mortgage Renewal be Denied in Winnipeg?

Can My Mortgage Renewal be Denied in Winnipeg?

March 7, 2024 | Posted by: Ron Chan

Don't crack under pressure regarding your mortgage renewal The end of our mortgage renewal period is near. For many Manitobans it’s a fairly standard process, even if they should speak to a b ... [read more]

My Mortgage is Coming Up for Renewal in Winnipeg, What Now?

My Mortgage is Coming Up for Renewal in Winnipeg, What Now?

January 12, 2024 | Posted by: Ron Chan

Back when you initially entered into your mortgage contract, it was drafted for a specific period of time known as the mortgage term. At the end of this term, you are required to renew your mortgage ... [read more]

Why do Mortgage Loans Get Denied?

Why do Mortgage Loans Get Denied?

December 13, 2023 | Posted by: Ron Chan

Fear of denial is what keeps people from doing many amazing things. It leads to procrastination of marriage proposals, career advancements, and for the intents and purposes of today’s article ... [read more]

Do I Need a Second Job to Get a Mortgage?

Do I Need a Second Job to Get a Mortgage?

December 13, 2023 | Posted by: Ron Chan

Nobody wants to get a second job. It certainly doesn’t leave much time to enjoy this little thing called life. However, those who are tired of paying rent (and paying off someone else’s ... [read more]

Should I Rent Forever? What You Need to Know

Should I Rent Forever? What You Need to Know

December 13, 2023 | Posted by: Ron Chan

You’ve read the news. You’ve heard how mortgage interest payments are up nearly 90% since start of Bank of Canada rate hikes. You’ve also noted that experts have stated that i ... [read more]

Should I Buy a House if a Recession is Coming?

Should I Buy a House if a Recession is Coming?

November 7, 2023 | Posted by: Ron Chan

In a TikTok video that went viral, comedian Pat Burtscher essentially solved the economic crisis in one joke. However, the powers-that-be will never let the comedian’s logical suggestions to & ... [read more]

Is it Better to Get a Mortgage Through a Broker?

Is it Better to Get a Mortgage Through a Broker?

October 9, 2023 | Posted by: Ron Chan

You’re getting ready to buy your very first home. It’s an exciting yet nerve-racking time in your life. For this reason you’re considering connecting to a professional that can ass ... [read more]

Can a Mortgage Broker Get Better Rates?

Can a Mortgage Broker Get Better Rates?

October 9, 2023 | Posted by: Ron Chan

Are you in the market for your very first home in the greater Winnipeg area? If you’ve been following Winnipeg real estate news then you know that interest rates have been on the rise which lo ... [read more]

Will a Mortgage Broker Get Me a Mortgage?

Will a Mortgage Broker Get Me a Mortgage?

September 19, 2023 | Posted by: Ron Chan

You were about to Google search for a mortgage broker near you, when it occurred to you that you needed some clarity on one key question; will a mortgage broker get me a mortgage? The simple answer ... [read more]

Does My Age Affect My Mortgage in Canada?

Does My Age Affect My Mortgage in Canada?

August 14, 2023 | Posted by: Ron Chan

Some of us are ready to get a mortgage while our peers are still attending frat parties. Others have waited (or have had to wait) decades latter to be on a position for homeownership. No matter wher ... [read more]

Will Gambling Affect My Mortgage in Canada?

Will Gambling Affect My Mortgage in Canada?

August 13, 2023 | Posted by: Ron Chan

If you’ve been following the Winnipeg Blue Bombers or Jets, ritually watching each game as it airs on TV or while in attendance at their respective stadiums, then you have certainly noticed so ... [read more]

Can You Break a Fixed Rate Mortgage in Manitoba?

Can You Break a Fixed Rate Mortgage in Manitoba?

July 6, 2023 | Posted by: Ron Chan

Are you considering a 5- or 10-year fixed rate mortgage in Winnipeg MB? The assumption about you as a buyer, is that you’re risk averse. This is understandable given the current state of the e ... [read more]

Will Mortgage Rates Ever Go Back Down in Manitoba?

Will Mortgage Rates Ever Go Back Down in Manitoba?

July 6, 2023 | Posted by: Ron Chan

The Bank of Canada raised the prime rate in June, even though in Q2 of this annum they indicated that they would likely hold it steady. Their July 2023 announcement is in a few days (at press) and e ... [read more]

Why Would You Choose a Variable Rate Mortgage Right Now?

Why Would You Choose a Variable Rate Mortgage Right Now?

November 21, 2022 | Posted by: Ron Chan

At press (Nov 2022) variable mortgage rates are as high as they have been in a dozen years. The thing is, you have plans to buy a home before the fiscal quarter comes to a close, and you've been o ... [read more]

Can a Single Person Afford a House?

Can a Single Person Afford a House?

August 17, 2022 | Posted by: Ron Chan

This is unfortunately a commonly asked question for many individuals across Canada in 2022. We don't expect it to change for 2023 as inflation rates continue to rise along with home valuations. Ho ... [read more]

Will Canada Mortgage Rates Go Down for the Remainder of 2022?

Will Canada Mortgage Rates Go Down for the Remainder of 2022?

July 28, 2022 | Posted by: Ron Chan

From Bloomberg to CNN, news outlets across the border are reporting sharp drops in mortgage rates. Some haven't seen levels so low since the 2008 recession. The fall is the result of a growing fea ... [read more]

Should You Change Jobs Before Buying a House?

Should You Change Jobs Before Buying a House?

January 19, 2022 | Posted by: Ron Chan

The Bank of Canada recently completed their year-ending Canadian Survey of Consumer Expectations and reported on a very interesting finding: 'The likelihood that workers will switch jobs has reac ... [read more]

How to Book a Mortgage Appointment in Winnipeg MB

How to Book a Mortgage Appointment in Winnipeg MB

October 25, 2021 | Posted by:

You've been following Winnipeg real estate news updates. You've even paid attention to Bank of Canada announcements and how they impact mortgage rates. As a result you've arrived at the correct co ... [read more]

Is Buying a Home Scary? Only If You Wait

Is Buying a Home Scary? Only If You Wait

October 18, 2021 | Posted by:

All Hallows’ Eve is upon us. While there are creepy costumes and spooky movies wherever you look, one thing has a lot of households scared - the prospect of purchasing their very first home. T ... [read more]

Winnipeg Real Estate News Updates - October 2021

Winnipeg Real Estate News Updates - October 2021

October 5, 2021 | Posted by:

Is there anything new you need to know? It’s been over a month since our last Winnipeg real estate news update, but now that autumn has arrived it’s time to see what’s new (if ... [read more]

Which Mortgage Should I Get?

Which Mortgage Should I Get?

September 28, 2021 | Posted by:

You’ve been paying close attention to the news about mortgage rates in Canada and real estate in Winnipeg Manitoba. You know that the Bank of Canada is holding their prime rate steady, and tha ... [read more]

How Do I Find a Private Mortgage Lender?

How Do I Find a Private Mortgage Lender?

August 23, 2021 | Posted by:

You’ve done some homework and decided that you’d like to avoid the big banks and talk with a private mortgage lender. This can be a great option for buyers, especially those limited esta ... [read more]

What Are Alternative Private Mortgage Lenders?

What Are Alternative Private Mortgage Lenders?

August 17, 2021 | Posted by:

A person wants to buy a home. A person goes to bank. A person gets a loan. That’s the process, right? Once upon a time it was, which is why some of the very same households from decades ago ar ... [read more]

Who Does a Mortgage Broker Work For?

Who Does a Mortgage Broker Work For?

July 5, 2021 | Posted by:

Today’s article is a little bit different than the rest. It is being published in response to a number of discussions and queries that have come to light over the last few months as the real e ... [read more]

Should I Wait to Get a Mortgage?

Should I Wait to Get a Mortgage?

June 29, 2021 | Posted by:

This first-time buyer question has become a bit more common through the last year, as some people have taken a wait-and-see approach when it comes to major financial decisions. However, they also un ... [read more]

Best Time to Buy a House in Winnipeg? Yes, and Here’s Why

Best Time to Buy a House in Winnipeg? Yes, and Here’s Why

June 5, 2020 | Posted by:

Do you wish you bought Apple stock back in 1980? Amazon stock in 1997? Google in 2004? While those may be extreme examples, in ten years (or so) from now many people will be wishing that they invest ... [read more]

Does Refinancing Mortgage Make Sense Right Now?

Does Refinancing Mortgage Make Sense Right Now?

April 28, 2020 | Posted by:

Winnipeg homeowners who are financially impacted by the government mandated economic lockdown are looking for ways to free up cash. Some are taking out home equity loans, which is a great option for ... [read more]

What Can You Use a Home Equity Loan For - 3 Other Worthy Things

What Can You Use a Home Equity Loan For - 3 Other Worthy Things

March 9, 2020 | Posted by:

There’s hardly been a better time to tap into your home equity. Why? We discussed this in our recent article about who benefits from a Bank of Canada interest rate cut. And while most people c ... [read more]

Who Benefits from Interest Rate Cuts? Home Buyer Perspective

Who Benefits from Interest Rate Cuts? Home Buyer Perspective

March 9, 2020 | Posted by:

Last week in our spring season home buyer projections we predicted that the Bank of Canada would drop the prime rate very soon. Two days later that happened. Given the connection to mortgage rates w ... [read more]

Mortgage Broker vs Direct Bank / Lender in Winnipeg

Mortgage Broker vs Direct Bank / Lender in Winnipeg

February 19, 2020 | Posted by:

There are a lot of decisions to make when it comes to buying your first home, but perhaps the most important one is in regards to whether you should go directly to a lender or secure the services of ... [read more]

Should You Buy a House in the Winter?

Should You Buy a House in the Winter?

November 7, 2019 | Posted by:

Winter is upon us, and that fact poses a question for prospective home buyers in Winnipeg - is it better to wait out the season before entering into a mortgage? After all, there’s a lot going ... [read more]

Should You Buy a Haunted House?

Should You Buy a Haunted House?

October 7, 2019 | Posted by:

With Halloween fast approaching we figured it’s a perfect time to answer another interesting question that a few prospective home buyers have - should you buy a haunted house? Yep, people actu ... [read more]

Should I Buy a Duplex as an Investment?

Should I Buy a Duplex as an Investment?

September 25, 2019 | Posted by:

So you’ve made the wise decision to invest in Winnipeg real estate. You’re also considering a live-in and income scenario, which puts a duplex on the tip of your tongue. A duplex isn&rsq ... [read more]

Should You Buy a House With Your Kids?

Should You Buy a House With Your Kids?

August 27, 2019 | Posted by:

Last week we released an article titled, Should You Buy a House With Your Parents, detailing the five key qualifiers surrounding whether or not it’s a good idea. This week, we’re flippin ... [read more]

Waterfront Homes Near Winnipeg - Advice on Getting a Mortgage

Waterfront Homes Near Winnipeg - Advice on Getting a Mortgage

August 8, 2019 | Posted by:

Now that we’re thick in the middle of the summer the time is right to discuss a prospect that’s on the minds of many Winnipeg buyers - a waterfront home. Whether looking for a house alon ... [read more]

Where to Live in Winnipeg if You Love Sports

Where to Live in Winnipeg if You Love Sports

July 23, 2019 | Posted by:

Every once in a while we like to weigh in with a unique take on where to buy a home in Winnipeg. After all, as the city’s premier mortgage broker, we have some insight on the matter.  So ... [read more]

Should You Buy a House Before Selling Yours

Should You Buy a House Before Selling Yours

July 12, 2019 | Posted by:

You’ve almost (or have) paid off your current home and are thinking about buying a new one. But before you do, you have to make a decision about whether or not to sell the current property. Do ... [read more]

How to Get a Mortgage as a Single Mom

How to Get a Mortgage as a Single Mom

May 13, 2019 | Posted by:

Mother’s Day 2019 is in the books (at press) but as far as we’re concerned every day of the year should honor the matriarch, especially those of you who have to go at it alone, without a ... [read more]

How to Get a Mortgage After Moving to Canada

How to Get a Mortgage After Moving to Canada

March 16, 2019 | Posted by:

For starters, welcome to Canada. Or in this instance, Winnipeg Manitoba, which is very appropriate if you think about it, as Winnipeg is the centermost metropolis in the country. So here you are sma ... [read more]

When to Choose a Variable Rate Mortgage

When to Choose a Variable Rate Mortgage

November 9, 2018 | Posted by:

Which way to go? Last month, we looked at the reasons why you would want to lock into a fixed mortgage rate. Today, we’re going to look at why a variable mortgage rate may be better for you.& ... [read more]

When to Lock Into a Mortgage Rate in Winnipeg

When to Lock Into a Mortgage Rate in Winnipeg

October 23, 2018 | Posted by:

Given that since the summer of 2017, the Bank of Canada has increased interest rates four times, many prospective buyers in Winnipeg are wondering if they should lock into a mortgage rate. Fair ques ... [read more]

Commercial Mortgage - Commercial Property Lease or Buy?

Commercial Mortgage - Commercial Property Lease or Buy?

October 10, 2018 | Posted by:

With Winnipeg experiencing sustainable economic growth, some residents who are managing (or have completed) a residential mortgage are using their equity to start a new business, including brick and ... [read more]

What Counts as Income for Mortgage Purposes

What Counts as Income for Mortgage Purposes

October 5, 2018 | Posted by:

Most people understand what they need to include as income when doing their taxes at the end of the year, but some are unclear about what they can consider income when it comes to a mortgage. Today, ... [read more]

Why Use a Commercial Mortgage Broker in Winnipeg

Why Use a Commercial Mortgage Broker in Winnipeg

June 5, 2018 | Posted by: Ron Chan

Commercial real estate is on the top of many minds here in Winnipeg. With the True North Square development underway and riding the success of the newly redeveloped RBC Convention Centre, excitement ... [read more]

Why Move to Winnipeg? 5 Reasons Why

Why Move to Winnipeg? 5 Reasons Why

May 23, 2018 | Posted by: Ron Chan

So you're on the fence about moving to Winnpeg Manitoba and have typed 'why move to winnipeg' into your browser and came upon this article. I'm glad you did. As a longtime resident raising a family ... [read more]

Common Mortgage Myths Winnipeg Residents Can Dismiss

Common Mortgage Myths Winnipeg Residents Can Dismiss

April 23, 2018 | Posted by: Ron Chan

There are many myths and misconceptions in the field or home mortgages. These lead current and prospective homeowners and investors to make some poor decisions, or no decision at all, the latter of ... [read more]

Second Home Mortgage in Winnipeg - Should You Go for It?

Second Home Mortgage in Winnipeg - Should You Go for It?

April 6, 2018 | Posted by: Ron Chan

Whether you have your first home paid off, or you're getting darn near close, you're now feeling pretty confident about taking the next step and securing a mortgage on a second home in the Winnipeg ... [read more]

Getting a Mortgage in Winnipeg – What You Need to Know

Getting a Mortgage in Winnipeg – What You Need to Know

March 6, 2018 | Posted by: Ron Chan

Whether a long time Winnipeg resident, newly arrived, or planning a big move to the 'Gateway to the West', you’re in the market for a new home. You’re off to a great start because you&rs ... [read more]

Should I Choose a Variable Rate Mortgage?

Should I Choose a Variable Rate Mortgage?

September 10, 2014 | Posted by: Ron Chan

I had a client ask me the other day, “Should I take a variable rate mortgage or a fixed rate mortgage?” My reply was – “It depends on your tolerance for uncertainty” Va ... [read more]

How Easy is it to Switch Mortgage Lenders for a Lower Rate?

How Easy is it to Switch Mortgage Lenders for a Lower Rate?

July 31, 2014 | Posted by: Ron Chan

With today’s historically low rates, many Canadian homeowners are looking for advice as to whether they should move their mortgage for a better rate. You can switch to another lender at any time ... [read more]

Ron Chan
Ron Chan
Winnipeg, Mortgage Specialist
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