Robert Floris CFP, AMP
Mortgage Agent Level 2
M08004919
1-855-55-TRUST
mortgages@robertfloris.com
Sean Howard BSc, MSc
Mortgage Agent Level 2
M17001956
905-966-1453
info@buildequity.ca
Hamilton Real Estate 2022: A Year In Review For Hamilton Real Estate And Mortgage Rates The 2022 Hamilton real estate and mortgage rate scenario can be summed up by one word: tumultuous. This monthly review will demonstrate the roller coaster ride [...]
Poor Decision To Keep Stress Test As Is Today the government agency OFSI announced that the infamous mortgage stress test would remain unchanged. In our opinion, this is a very poor decision because it targets and prevents prospective homebuyers[...]
Are your mortgage payments becoming on affordable? In the past year and a half the prime rate in Canada has gone up by 3.5%. depending on the size of your mortgage and whether you are in a fixed or variable rate mortgage, this has[...]
Before answering the question, what is a collateral switch mortgage, we should first answer the question, what is a collateral mortgage? A collateral mortgage is a mortgage where the lender has registered a larger amount on title on [...]
What happens if my appraisal comes in low? In a declining real estate market like the one we are having, it can be a serious problem when securing a mortgage if the appraised value comes in lower than expected. At the moment we are [...]
Should I declare bankruptcy? Bankruptcy may seem like an easy solution. But if you are thinking about declaring bankruptcy, make sure you understand all of the consequences and make sure that it is worth it! We have had clients who [...]
What is the best mortgage product for you? Fixed or variable mortgage? Sean and I get asked the question more than any other question. As advisers, we do try to study the trends of mortgage rates and where they are going in the near future and [...]
What is the maximum mortgage amortization? Before answering the question what is the maximum mortgage amortization, we should first explain what an amortization is. Our clients will often get confused between the term of the mortgage and the [...]
First things first: even though it is generally better if you CAN pass the stress test, you don’t necessarily need to pass the stress test if any of the following are true: 1. You are refinancing your home. 2. If you are purchasing a home[...]
SHOULD I LOCK IN MY RATE? With all of the recent and looming interest rate hikes, we are getting a lot of calls from anxious clients asking if they should lock in (and justifiably so). Unfortunately, we can’t answer that question. However, [...]