Latest News Giovanni Perri 11 Apr
The Canadian government announced today that 30 year amortizations will be available from August 1, 2024 on INSURED mortgages (below 20% down payment) for First Time Home Buyers who are purchasing a new build. While existing housing will still be capped at 25 year amortization on the insured side, 30 year amortizations still remain an […]
Read MoreGeneral Giovanni Perri 10 May
If you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker. On standard residential mortgages, it’s 100% free for the clients. We’re paid by the bank […]
Read MoreMortgage Tips Giovanni Perri 10 Jan
Though credit scores aren’t always an indicator of financial health, they are used in a variety of ways that could have a major impact on your life. Interest rates (including mortgage rates) are almost always determined by your credit score. Some employers & landlords may require a credit check to see if you have past […]
Read MoreGeneral Giovanni Perri 19 Dec
“Last year marked the beginning of a new era for Canadian households,” economists at CIBC declared in a report issued in September. For the first time since the early 1990s, they wrote, the interest rates that banks base their fixed-rate mortgages on are higher than they were five years earlier. In Canada — where four […]
Read MoreMortgage Tips Giovanni Perri 11 Dec
Reverse mortgages have never been this popular in Canada. Inquiries about them have doubled between 2016 and 2017, according to HomeEquity Bank’s CHIP Reverse Mortgage, which was, for a time, the only financial institution to offer them nationwide. And as a wave of baby boomers crosses the work-life finish line, competition to serve those who […]
Read MoreGeneral Giovanni Perri 23 Nov
I am often asked if it’s hard to compete with the banks. While they may offer competitive rates at times, right now we have much better rates than the banks. However, we have certain advantages which allow us to blow them out of the water most of the time. More Choice – banks are limited […]
Read MoreGeneral Giovanni Perri 22 Nov
So now that you’re a home owner, what are your next steps? Well first, you will have to figure out exactly how you are going to get RID of that mortgage. Yes, that’s right. Now that you got it, here are four ways you can pay it off and be done with it! 1. ACCELERATE […]
Read MoreGeneral Giovanni Perri 15 Nov
There is a myth out there that once you’re pre-approved for a mortgage, you’re good to go out and buy a home… with a no subject offer… DON’T do it! A pre-approval means that based on being able to PROVE (through documentation) your CURRENT income, expenses, down payment and credit bureau you SHOULD be able […]
Read MoreLatest News Giovanni Perri 14 Nov
As many of you already know, Canada just became the second country in the world to legalize marijuana for medical and recreational purposes. Of course, this historic moment in Canadian history has cannabis activists jumping for joy while others are not s-toked on the idea. With legalization comes the realities of growing your own pot […]
Read MoreMortgage Tips Giovanni Perri 1 Nov
Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the mortgage broker has reviewed and approved ALL your income and down payment documents (as listed below) prior to you going house hunting. Many bankers will say you’re approved; you go out shopping and […]
Read More