Carolyn Wood

Is it time to break your mortgage for a lower rate? For some the answer is easy, while for others in a fixed-rate mortgage it can become a difficult and complex question when facing prepayment penalties. What we know for sure is that rates are at record lows. If you are unsure of whats best for you, reach out. Together we will run the numbers to see what makes sense for you.

If you currently own a home, now is the right time for a mortgage checkup to find out if you can save on interest costs and what steps you can take today to help you get closer to reaching your short- and long-term financial goals. Always remember that as a Mortgage Professional Im here to offer you unbiased advice and answer any questions you might have. Please dont hesitate to reach out.

Rates are low and can be locked in for 90 days. If you are thinking about buying a new home, contact me so you can be ready to make an offer.

With rates being low, and expected to stay for a while, now is a great time to unlock equity through refinancing or a home equity line of credit (HELOC). Refinancing allows you to access equity and possibly obtain a better interest term and rate. Where as a HELOC lets you keep the mortgage you are currently paying while getting access to a large sum of money. If you are interested in exploring the possibilities available to you send me a message for a free consultation.

We want to pay your mortgage! One lucky Mortgage Alliance customer will win the value of their new Qualifying Mortgage payments during their first year, up to a maximum of $25,000. Contact me for more details or click the link below. It pays to use the right broker!... https://www.mortgagealliance.com//MortgageAllianceWinYourM

The stress test eases again!

Using a mortgage broker gives you access to lending options you cant get on your own. We deal with many lenders, from major banks to private lending options. When you are ready to renew, refinance or purchase your next home, contact me for a consultation.

Fixed or variable? How much of a down payment do you need? What is mortgage default insurance? Do you qualify for any first-time home buyer incentives? When it comes to securing your mortgage there are a lot of questions. That's where I come in. I'll help you navigate the process, present you with options, and ensure you get not only the best rate but the terms you need. Feel free to reach out with any questions, I'm here to help.

With interest rates low, and expected to stay there, now is a great time to refinance to pay off high interest debt. Use this as an opportunity to streamline your finances and incorporate everything into one payment, your mortgage. Contact me for a free consultation.

To improve something, it is important to understand it! Pay your bills on time, have a good mix of credit accounts, and keep a lower ratio of debt used to credit available. Regardless of your financial milestones it is important to know what makes up your score so you can keep it on track. Click below for more details https://www.consumer.equifax.ca//what-impacts-credit-score/

Win your mortgage payments for a year! One lucky Mortgage Alliance customer will win the value of their new Qualifying Mortgage payments during their first year, up to a maximum of $25,000. Contact me for more details or visit: https://www.mortgagealliance.com//MortgageAllianceWinYourM

With all the information you have been hearing about interest rates and policy changes it makes sense to schedule a free mortgage check up. We will look at your current rate and term, discuss your plans and make sure your mortgage is right for you. Send me a message and we can start your mortgage check up today.

3 Reasons you should use a mortgage broker vs going to your bank: 1. Better rates Because lenders compete for our business, we get access to discounted rates based on volume and we pass these savings directly on to you. 2. Access to more lenders - When you apply for a mortgage at a bank or credit union, you only have access to the products they offer in house. With a mortgage broker, you get access to dozens of lenders.... 3. Our services are free we are compensated by the lender.

Are you a homeowner that can benefit from the current low rates? According to CIBC Economics, the weighted average mortgage rate currently paid by borrowers [is] roughly 50 basis points higher than the current rate no less than 20% of borrowers have already renegotiated their rates. We expect more to come. Contact me and we can do a cost/benefit analysis for you as well as look at other options.

Look at this absolutely meticulously maintained home! As an added bonus, I can guarantee you will have the best neighbours in town ;)

CMHC recently announced that as of July 1 they will be tightening their underwriting guidelines which will have a huge impact on buying power for Canadians. In Canada we have 3 companies that provide mortgage insurance for those who need to buy with less than 20% down. CMHC is the most popular because they are government owned, but Genworth and Canada Guaranty announced they will not follow CMHC in tightening their policy. This is one more reason why it is so important to work with a mortgage broker who can give you options.

Stately homes are my favourite--even better when they have modern updates but keep their charm and character. Look at the hallway of this beautiful home! That front door and staircase! Now add-in the view of the river! Eeek! I'm in love!!!

With the recent CMHC qualifying announcement, and our ever-changing rate landscape, now more than even you should be seeking the advice of a Mortgage Broker. We deal with multiple lenders and flexible terms. As we have all seen over the past few weeks life changes, your mortgage needs to adapt with you. Contact me for a free, unbiased, consultation.

I work for you! As a mortgage broker I shop the market to save you money. One call gives you access to dozens of banks, credit unions and trust companies.

Getting in touch before renewing will simply help you make a better decision, especially since the current rate environment is very confusing. Its important to have the conversation early so there is time to review your financial goals, determine if it makes sense to switch your mortgage for a lower rate, or possibly refinance to consolidate debt. Overall, its an important moment of opportunity because you can renegotiate everything pertaining to your mortgage with no penalties.

Should you break your fixed rate mortgage to save money? Every situation and mortgage agreement is different. Contact me and we can review your situation to see if the cost to break your mortgage is worth the savings over time.

Are you renewing this year, planning to buy or looking to unlock equity? The pandemic might have thrown a wrench in your plans and you are uncertain about your options. Reach out for free, honest, unbiased advice.

As a mortgage broker I work for you. I have access to multiple lenders to find the product and rate that meets your needs. A mortgage specialist at the bank works for the bank. They have access to 1 lender and want to sell their product, not necessarily what is best for you. Now more than ever you need a broker on your side. Contact me for a free consultation. Im here to help and answer your questions.

I'm here to help! Thanks to technology we are still able to connect, answer your questions and complete transactions whether you are buying, refinancing, or renewing your mortgage.

Even in uncertain times its important to look ahead to the future. Here are 4 ways first-time buyers can get assistance to help achieve their goals of home ownership.

As we navigate turbulent waters the best advice I can give you is to get in touch early if you are anticipating any challenges. Whether you need a new mortgage or are unsure of your current situation, there has never been a better time to get advice tailored to you.

During these difficult times it is important for purchasers to know that we are seeing delays in all aspects of the mortgage loan process from application to appraisals. What we want you to know is that this situation is new to all of us, brokers and lenders are working diligently to meet the needs of Canadian Mortgage Consumers. As a reminder, the following options may be available to assist homeowners during these times. Contact me with any questions, Im here to help. De...ferral of payments Re-amortization of the loan Capitalization of outstanding interest & costs Special payment arrangements See more

Confused about why some rates are going up while others are going down? Here's a great read explaining the reasons why! https://www.thestar.com//as-the-central-bank-rate-plunges-

A reprieve for those with student loans.

We made the list and we're here to help. Please, if you have questions, or want to talk through your options--call or email carolyn *at* brickhousemortgages.ca https://news.ontario.ca//3/list-of-essential-workplaces.ht

If you find yourself in the position that you need help with your mortgage payments due to COVID-19 please reach out. Most lenders have options available to skip a payment or put a hold on a payment. Each lender has different options and have updated their policies. If you have any questions do not hesitate to reach out. As a mortgage professional Im here to provide unbiased advice and counsel during these times.

Buying Power! The Stress Test changes coming into effect this April will give buyers access to about 5% more buying power. Its more important now than ever to use a broker not only to get unbiased advice but also access to the best rates.

Remarkable move by the Bank of Canada to cut the overnight rate by 0.50%. Stay tuned to see how this translates to your variable rate mortgage or Line of Credit--we will see if the full 0.50% reduction comes through! https://business.financialpost.com//bank-of-canada-cuts-ra

An interesting Thursday Tidbit that just helped me to find over $200! Did you know that Government of Canada cheques never expire/stale date? If you have ever received physical cheques from the Government, you can check online to see if happened to miss cashing any cheques you've received. Just logon to the "My Account" service through CRA and once logged on select "Uncashed Cheques". Let me know if you happen to find some $$ yourself!

Top 4 tips for saving a down payment!

Due to the recent Stress Test changes we can expect a spike in the spring market. Experts are saying we could see anything from an increase of house prices to interest rates rising. What we know for sure is that come April 6th, what buyers qualify for will be more in line with what they can afford finally! If you are thinking about buying this spring, the best thing you can do today is secure your rate! A rate hold is generally good for 120 days so that means you can secure the lowest rate available to you today and if rates rise you will be protected, if they drop you can still take advantage of a lower rate.

Yesterday, the Finance Minister announced changes to the "stress test" used to qualify borrowers seeking an insured mortgage. One of the biggest questions I've received is: *I've been out of school a while. What does the median mean*? The median is NOT the average. The median is the middle number in a sorted list of numbers. To determine the median value in a sequence of numbers the numbers must first be sorted or arranged in value from lowest to highest, or highest to lowest. Ie., 1,2,3,4,5,6,7,8,9 Median= (4+5) divided by 2= 4.5 or 1,3,3,6,7,8,9 Median = 6 Stay tuned--I'll share more information as it comes available about how this median rate will be set weekly. If you have questions about how this change impacts you--let's talk! Email me carolyn "at" brickhousemortgages.ca