Second Mortgages: Useful but BEWARE!

Second Mortgages: what you should know and why they will be more popular going forward. It is no big secret that the government and the banks are making mortgage rules much more strict which are already making normal financing harder to be approved for. It is our professional opinion at mortgage architects Robert Floris’ Hamilton […]

New even stricter rules proposed on mortgages…

It appears the office of the superintendent of financial institutions [OFSI] is still gung ho on toughening the mortgage rules even more. Anyone who has been preapproved with 20% or more down payment could be affected. Thus, if a proposed purchaser was preapproved at today’s rate of 3.19%, they are proposing now to be qualified at […]

Should I lock in my mortgage?

With everyone anticipating that rates will continue to increase, variable rate mortgages are become less desirable than they have been in the past. Over the past decade, interest rates have been historically low so this has carried little risk for people holding variable rate mortgages. However, the uncertainty with interest rates now may carry more […]

Understanding Pre-Approvals

When you buy a house but your down payment makes up less than 20% of the purchase price, not only do you need to meet the lender’s (bank’s) criteria for qualifying for a mortgage but you also need an insurer’s approval (CMHC, Genworth or Canada Guaranty). Why? The government has mandated this because they feel that putting […]

Rate Increases Could Prevent You From Qualifying

Mortgage rates keep creeping up. Everyone seems to know that. But what some people may not realize is that it takes more than just a personal commitment or belief that you can afford a mortgage. The mortgagor or applicant is not the only one who decides if he or she is ready for a mortgage. […]

Different Real Estate Market: Different Strategies

As everyone has noticed, the Real Estate market in Hamilton and Southern Ontario has certainly changed. And Robert Floris’ Mortgage Architects office in Hamilton, we like to share information as we see it and relate it as if we were the reader. Thankfully, the local housing market is more balanced. We do not have the […]

Great News for Realtors!!

This is an interesting article that I would like to share: The federal Liberals’ are sending signals that they are ready to make a right to housing part of its national housing strategy. The declaration appears largely aspirational in nature at this point, as sources with knowledge of the government’s thinking said there won’t be […]

Equifax Credit Scare: Yes, it is a big deal!

When the big news hit that Equifax had cyber theft of over 143 million people, it left us stunned. At Robert Floris’ Mortgage Architects office in Hamilton, we are consumers of Equifax. In fact, most of Canada uses them as their credit checking facility. It was most disturbing that it took the company 10 weeks to […]

Mortgage Free? You Bet It’s Still Possible!!

At Robert Floris’ Mortgage Architects office we are a bit weird. You see, we really do enjoy helping people. Corny? Probably. Cliché yes. But we really mean it. As anyone who really knows us will tell you, we are certainly not the biggest fans of banks. Why did I bring this up? Well, this weekend […]

I found this so inspirational!

These are words to live by. Robert Floris is a Mortgage Agent located on the East Hamilton Mountain, serving Hamilton and the GTA and Ontario. He not only offers the best mortgage rates, but also honest advice and a financial plan at no charge to the client. Robert can be contacted at 905-574-9200 Ext. […]