Ariana Leroux Mortgage Blog

So there are some industry changes that do effect you. Whether you want to purchase, refinance or transfer, these changes directly affect your qualification for home ownership. As I mentioned May 1st, 2013 in the blog post " Interesting Updates for Mortgage & Eye Openers to Qualification " there have indeed been changes to how revolving debt is looked at on a mortgage application. I just received an email from First National confirming two changes that are affective immediately with them for certain. 1) Unsecured Revolving Credit-  Affective immediately, the monthly payment for all revolving unsecured credit will be 3% of the outstanding balance. Interest payments will no longer be used to qualify.   IE. Credit Card Balance of $11,000, will have a $330/month payment used when qualifying. *Now most lenders have taken this on already, so it is not that much of a surprise. However the next one will take some getting use to, with First National - and if they are ...

So you have bought your first house, or maybe it is your second or third. Either way today is the day and it is exciting. You are starting a new adventure, and putting down new roots, in your newly chosen abode. You have been planning where you are going to want to put your furniture and pictures in your head, and maybe the new paint colors you are wanting to try. It is really an adventure with indeterminate possibilities. However all the excitement can be stressful as well. There is a lot to do and you are wanting everything to run smoothly. Whether you are doing it yourself, with a moving company or friends and family are helping - what are some things you can do to help insure a smooth transition. I found some great things on the TLC web page - they have 5 Tips for Moving . 5) Draw a Floor Plan - You know what will save you time and eliminate confusion on moving day? Try drawing a floor plan of your new home before you move. Sketch in and number your furnishings the way ...

"...what I wrote on Facebook today is written below.  With a message that should be shared anyway possible,  even smoke signals if required,  to get to the furthest reaches of Canada. " Seeing the flowers & the red stained stones, is enough to make anyone cry. Finding out that is was a 2 year old boy who senselessly had his light snuffed out, this past Sunday, has me bawling. As a mother of 2 young kids & living 5 minutes away from this tragedy - it has hit me close to home on several fronts. This little boy, with so much unseen potential, is gone. My heart breaks for the entire family & I offer my heart felt condolences.  Drinking & Driving is NOT ok, & what our Justice System has to realize; is a vehicle is a fast moving, heavy duty weapon, of approximately 4259+ pounds & should be treated as such! Driving a vehicle is not a right, it is a privilege. Zero tolerance should be given when someone is drinking & gett...

We have all had those days , especially after a long weekend. Finally get into some relaxation and BOOM back to the grind. While like most people I find these days tiring, I also find them great ways to accomplish quite a lot. These type of days tend to focus me when I am getting it from all angles, haha, like an extreme game of dodge ball. One moment of not paying attention and BAM; your out. Besides really I am on 24/7/365 but my lenders are not; so holiday time they are off for the government appointed day, and the next business day is usually insane with everyone playing catch up & me spending a lot time following up making sure I do not lose a day for my clients in the follow up. So like TD Canada Trust Green Chair, I have chosen animals as my "theme", as I find, most times, that they can be quite soothing, energizing, fun, and yeah at times annoying too, which when telling stories makes you smile. But really I find they sooth my soul, keep my glass half full vs hal...

I have some interesting news to share. From the blog post I wrote on May 1st, 2013 it seems OSFI has made it official legislation, I guess it was May 1st, 2013 (good call on my blog post ). Here goes the new info that is currently being followed by all lenders and will affect qualification for mortgages. 1) Payment Caculations: Have to use 3% of the balance, on all Unsecured Credit (so interest only payments on UnSecured Lines of Credit are inconsequential - as the 3% of the balance must be used)   2) Market Rents can no longer be used; a lease agreement has to be in place even it is the primary property 3) Alimony/Child Support payments being paid are calculated as liabilities (not as prior subtracted from income) 4) Deficit on rentals on T1s are now also calculated as a liability ( not subtracted from income)  Also what I am hearing is the Finance Minister is going to try to change the amortization allotments for Conventional Mortgages, which currently can be u...

So Mother's Day is this weekend and what do you have on the To-Do List? If you are like me, we have a large Mother's Day Dinner Planned with the whole of one side of the Family. :) However this year we are doing something different, and I like the idea, so I figured I would share. Usually for Family Dinners it is done at either my house or my Mother in Laws house. Either way, one of us is doing the bulk of the work with not a lot of intervention or help. It can get to be a lot of work & money, when you are thinking about arranging and cooking for 16 people on average, and if we add some of my family to the mix that number jumps up. Plus for myself, I tend to like to set a Martha Stewart Type table... everything looks "just-so"... ha ha ha ha; have a good laugh. My husband usually does when he sees me setting the table.... however my point is it gets to be a lot of work. Being that I am a full time Mortgage Agent , and full time mom and wife... adding more ...

So YIPPIE Alberta, we have had some wonderful weather... and knock on wood seems like we can expect some more. Some temperature specs for the next 7 days. WED 19° C  THURS 24° C   FRIDAY 11° C     SATURDAY 21° C   SUNDAY  29° C    MONDAY 24° C   There are some good things to keep in mind with weather like this in regards to your pet/children and your vehicle. Here is what temperatures look like in your vehicle in weather like this.... Please keep this in mind, for even just that "quick trip" you are taking into a store. If you are going to leave your dog in your vehicle, maybe it is best to leave the pet at home, or bring someone with you and have the dog outside while you are inside?? There are a lot of other solutions besides leaving them in the vehicle. How Dogs Regulate Their Body Temperature: Dogs are endothermic; regardless of changes in environmental temperatures, they need to main...

Happy Friday Everyone the sun is Shining & temperatures are supposed to be rising! Plus on a side note there are some super happy people going into the weekend, yeah mortgage approvals at amazing rates & perfect products!  Grab a ball and get out and play!  Have a great weekend! 

Ok so being that it is Wednesday and the sun if out and shining - knock on wood we will get to over 15 degrees today ... I figured now was a good time to share some interesting information, its a bit of a read but worth it I think to finish it to the end. First & foremost what I am finding from most of my lenders is a change with small numbers being used to qualify the mortgage that make large differences in qualification: here are some examples: 1) Heat Caculation : it is now done based on $0.75/per sq foot of property. That means if you have a 1500 sq/ft property x $0.75 = $1125/12 months = $94.75 to use in the heat caculation. This does change ratios sometimes; considering we could just use $50-85 prior, unless of course it was Servus Credit Union then we use $200 (which is actually more accurate anyhow) 2) New Builds Property Tax Caculation : the Insurers/Lenders are going to use 1% of the purchase price when Caculating property taxes... this being said I know of one or tw...