Ariana Leroux Mortgage Blog

I am so happy to announce that I will be having a new website I am designing! What a learning curve I can tell you - I had someone plug in the theme to use and help with some charts and pictures but I am happy to say I have been the one to put it mostly together! I think however I will stick to Mortgage Building vs Web Building! lol, I am way better at the former than the latter that is true. Speaking of mortgages, as you already know the Bank of Canada has already left the overnight rate as is... so what does that mean for you? The lenders are still offering stable rates with nothing really going up to high or down to low... rates have been pretty consistant. The thing that has not remained steady are mortgage products. Most lenders have now all followed suit in regards to using a 3% payment caculation on all unsecured lines of credit and credit cards vs using the provable payment. This makes things I find tight for First Time Buyers when looking at what they qualify for. For exampl...

So this was the 2ed event of the summer for "Your Mortgage Guides"!  The RCMP Ride was amazing to watch! It was held at Amberlea Meadows, which is just outside of the SW of Edmonton. The turn out was amazing to support the Kids with Cancer, of which Amberlea Meadows is a huge supporter. I have to take a moment to say, that Amberlea Meadows holds a place in my heart as I spend a lot of my childhood there. It is a wonderfully beautiful place and the owners have huge hearts - and it shows in the grounds, animals and all that they do. For this event we set up a table and gear.... and started to answer any and all mortgage questions for everyone there. Truthfully spent a lot of time speaking to the RCMP officers which was pretty neat and watching them move their horses in the actual "ride" was astonishing! The place was standing room only!  We added our pennies together, along with help from TMG (St. Albert Office) and donated a total of $375.00 , ...

So this summer has been pretty busy and full of so many wonderful things. For starters, Stefan Cherwoniak (another mortgage agent with TMG) and I teamed up to do some Community Charity work!      What we created was a wonderful partnership that benefits the community & the two charities we supported together this summer.  The first event we did was....... " Yoga in the Park ".                                           It was a huge success and I am more than looking forward to making it bigger and better for the coming summer in 2015.      (Note: we are already planning 2015! )                         ...

So How Do You Know Which Option Is The Best For You? NOW AND LATER With what we are all seeing on the news lately and hearing on the radio, how do you know if you are getting into the right mortgage product. Yeah I said product not rate! Everyone is always so focused on the rate that they forget about the product...but they end up learning about the product later when they are wanting to do something to their mortgage OR their life circumstances change. For short sighted fokes this will not make much sense but what people need to start doing is looking at their mortgage investments as 'Long Term', cause they are... think about it. Most people take a 5 year term and it is amortized over a 25 year period (use to be 35 or even 40 year). Now I dont know about you but next week can seem far away at times let alone 5 years or 25 years! What you may find out is that "great rate" your bank offered you, was actually a Marriage Proposal- that will requir...

Everyone was worried yesterday in regards to the announcement that came today. The announcement has happened and it is not as bad as people were thinking. Let me start of by saying that any current approved deals via CMHC all the way till April 30th, 2014 will be at the old premium rates...even if it does not fund by April 30, 2014. It just has to be approved in the system (although if it has to go back to CMHC there is a chance that the premium would increase at that time). Either way, if you currently have an approval with your broker or bank that is already CMHC approved, the premium will not increase. Any new mortgages approved May 1st, 2014 going forward will be subject to the new premiums. Those new premiums are not too insane, and equate to about $5 more per monthly payment for all mortgages with less than 20% down payment. Please see some actual numbers & Release via CMHC,  by clicking on this link: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2014...

The short answer is that most consumers would say "yes", Rate is All Important but is this the right answer.... My answer to that is yes and no . While rate is important it is not the only thing you should be thinking of or reviewing when you are getting a mortgage for your new purchase. Now, most people would say that sounds like a sales pitch. The reality is that mortgage flexibility, contract restrictions and advice all have a definitive impact on borrowing costs. And most people do not discover how much impact this can have until after your mortgage is already closed and usually only finding this out when you have tried to change or do something different with your mortgage. Mortgages are long term investments which you have to look at all your options based on your current situation and future situations. Taking the lowest of the low rate at the time may turn around and bite you in the butt come the future. The Mortgage Rates sites that also post multiple...