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A mortgage that's a poor fit can cost you thousands. Ask questions & understand what you're getting.

posted by The Mortgage Associates    |   October 23, 2014 11:41

Buying your first home:  Three steps to successful mortgage shopping

Document by the Government of Canada

Click here to read the document.

Shawna worked with us for more than 2 years while we decided when the right time for us to buy was

posted by The Mortgage Associates    |   October 22, 2014 08:29

Shawna MacDonald"Shawna has been amazingly patient with us :) she worked with us for more than 2 years while we tried to make up our mind on when was the right time for us to buy our home.  We moved into our new place last week and we are so very happy!!!  Shawna, you are now a friend to us, not just some mortgage lady!  I would recommend all my friends and family to go to Shawna and look forward to renewing our mortgage in the future with her!"

Harmony & Mike Cole, October 2014






Five signs you are ready to take the home-buying plunge

posted by The Mortgage Associates    |   October 17, 2014 10:22

Five signs you are ready to take the home-buying plunge

Article by Augusta Dwyer, Special to the Globe and Mail, August 12, 2014

"It may seem obvious, with today’s low interest rates, high rents and a strong housing market: If you’ve got the money, buy now.

But how to know when you are truly ready to make the leap?

Not everyone who would like to buy is actually prepared, financially and emotionally. Real estate experts have recognized signs that indicate when someone is, and meeting those criteria can make the difference between frustration and success."

To read the article, please click here.

Shawna is very supportive and seeks to find the best options for her clients

posted by The Mortgage Associates    |   October 16, 2014 11:35

Shawna MacDonald"Shawna has helped us with two mortgages now and I have nothing but good things to say.  Whenever we had any questions, we always received a response within a couple of hours from her or she made sure we were well looked after from one of her associates.  She was able to help us get the lowest rates available both times.  I found she is very supportive, and seeks to find the best options for her clients.  I highly recommend her and our family is looking forward to working with her again in the future."

Chelsey Studer, October 2014





Shawna MacDonald and her team worked with our timeline and i have to admit, painless process!

posted by The Mortgage Associates    |   October 15, 2014 13:00

Shawna MacDonald"Shawna was absolutely wonderful!!!!! With me and my fiance's schedule it was just so busy and we didn't have the time to meet with her, but she was very accommodating! Her and her team worked with our time line and i have to admit, painless process! I have always heard nightmare stories about buying a house, but Shawna made it a very easy task! Highly recommended!"

Charmaine Wiebe, October 2014






Shawna MacDonald worked diligently to secure a mortgage for our property at a very competitive rate

posted by The Mortgage Associates    |   October 14, 2014 08:36

Shawna MacDonald"Shawna MacDonald has worked diligently to secure a mortgage for our property at a very competitive rate and has done so with pride in her work.  I appreciate the tremendous effort on her part to make this a reality.  I would recommend her to anyone looking for a mortgage."

Tom Goertzen, October 2014







TD Bank client 'devestated' by $17,000 mortgage penalty

posted by The Mortgage Associates    |   October 10, 2014 08:16

GO PUBLIC | TD Bank client 'devestated' by $17,000 mortgage penalty

Article by Mark Harvey, Lisa Matthews, CBC News, October 8, 2014

"An Edmonton couple say they were shocked when their bank manager told them it would cost $17,000 for them to end their five-year fixed mortgage early.

Shane and Joy Trusz say they were expecting to pay a penalty of three months interest, which would have been less than $4,000.

Under the mortgage contract, TD Canada Trust had the right to calculate the penalty using either three months interest or the Interest Rate Differential (IRD).

The IRD is based on a complicated mathematical formula that includes the principal owing, the months remaining on the mortgage’s term, and a comparison of the interest rate the client is paying versus the rate the bank would charge for the remainder of the term.

Even after using TD’s IRD calculator, Shane Trusz said he couldn’t understand the amount TD was going to charge.

“We came out with a figure, it was about $7,000,” Shane Trusz said. “So, how is TD coming up with $17,000? I have no idea.”

Trusz said he expected TD Canada Trust, with whom they have banked for almost 20 years, to make an exception in their case, because they are selling their possessions to do humanitarian work."

To read the full article, please click here.

Are low mortgage rates sustainable ... maybe

posted by The Mortgage Associates    |   October 9, 2014 11:27

Sustainable Unsustainable

Article by CanadianMortgageTrends.com, May 23, 2014

""I think this is the real thing. This is the end of extremely low interest rates. They’re simply unsustainable.” – Economist Benjamin Tal, August 2013

Benny Tal is one of the sharpest economic analysts on the block. For him to go out on a limb like this shows how convincing the rate-hike thesis was last summer.

Since that time, the unsustainable has proven quite sustainable.

Following the spring/summer rate spikes of 2013, homeowners feared that the low-rate ship had sailed. And now, only 6 to 7 months later, the market is again flush with sub-3% mortgages."

To read the full article, please click here.

Are shorter mortgage amortizations always better?

posted by The Mortgage Associates    |   October 8, 2014 10:25

Are shorter mortgage amortizations always better?  In some cases, no.

Article by Robert Mclister, The Globe and Mail, May 21, 2014

"For years we’ve been taught that shorter mortgage amortizations are better. Most people in the mortgage business don’t challenge this premise and certain lenders preach it as gospel.

Consider this recent statement by a bank spokesperson: “Choosing a shorter amortization is the most responsible approach to home financing. It’s something we have been encouraging our customers to consider for years, as it means becoming debt-free sooner.”

How wise is that advice? Do longer mortgage repayment periods truly cost you more, all things considered?

In some cases the answer is unequivocally no. Longer amortizations, which spread your payments over 30 or 35 years instead of the traditional 25, can cost you significantly more in mortgage interest. But consider these four scenarios where “longer” is actually better."

To read the full article, please click here.

5 Things You Won't Believe Hurt Your Credit Score

posted by The Mortgage Associates    |   October 7, 2014 14:11

5 Things You Won't Believe Hurt Your Credit Score

Article by Jonathan Roisman, NextAdvisor.com, August 18, 2014

"Deciphering your credit score can be difficult, especially if you don't know all the ways you can be hurting it. Your credit is not only attached to your credit card use, but with many everyday financial activities. Here are five things that can hurt your credit, and ways to prevent them from happening to you.

1.  Closing a credit card account

2.  Apply for new credit

3.  Renting a car with a debit card

4.  Financing a major purchase

5.  Not paying a parking ticket"

To read the full article, please click here.