Saskatoon Mortgage Broker: Tammy Wandzura: MORE information on the new federally mandated STRESS test qualification

What will happen to your pre-approval if the Bank of Canada increases the Benchmark rate used to qualify and "stress test" your mortgage approval ?? Any changes to the Bank of Canada rate (up or down) will affect your pre-approval if you have less than a 20% downpayment We will be in touch with every [...]

2019-08-19T22:06:45-06:00November 15th, 2016|

Saskatoon Mortgage Broker: Tammy Wandzura: HUGE Mortgage Rule Changes- How will they affect you?

The Finance Minister made an announcement this week EFFECTIVE October 17/2016 All insured (less than 20% down payment) home buyers must qualify at a "stress test" rate of the Bank of Canada's posted or "benchmark rate".  Today that is currently 4.64% You will still PAY the low discounted rates (2.39-2.49% on a 5 year fixed) [...]

2019-08-19T22:06:46-06:00October 6th, 2016|

Saskatoon Mortgage Broker: Tammy Wandzura: BROKER vs Bank – What to consider

The big question: BROKER vs BANK The Broker industry depends on strong personal, long term relationships. Mortgage Brokers build their business's by creating strong, well nurtured relationships that they want to see last the life time of their clients mortgage. Mortgage Brokers in Canada are provincially legislated to WORK IN THE BEST INTEREST of the consumer. [...]

2019-08-19T22:06:46-06:00August 30th, 2016|

Saskatoon Mortgage Broker: Tammy Wandzura: Why the differences in mortgage rates-prepayment penalties & broker lenders vs charted banks

There is so much information available now at our finger tips; it's easy for the average person to quickly become an expert in any topic including mortgages. I am guilty of heading to my doctors office with a long list of illness's I may have self diagnosed with the help of the internet (haha) We [...]

2019-08-19T22:06:46-06:00August 19th, 2016|

Saskatoon Mortgage Broker: Tammy Wandzura: Why a PRE-approval from a Broker can be different than your bank

Looking to purchase a house? Have you heard the term pre-qualifcation? OR preapproval Do you know what the differences are? How can a PRE-approval be different from a Mortgage Broker than the information your bank provides to you? As a Mortgage Broker we are licensed and legislated both Federally & Provincially. We are required to [...]

2019-08-19T22:06:46-06:00May 11th, 2016|