Deferred Mortgage Payments

Deferred Mortgage Payments

The temporary suspension of mortgage payments is known as a mortgage deferral. Deferred mortgage payments provide short-term relief when experiencing financial hardship. Your lender needs to approve the request to defer mortgage payments. Once approved, you’re permitted to stop making payments on your mortgage temporarily. Do not worry about late charges (in most cases) or […]

Mortgages and COVID-19

Mortgages and COVID-19

It’s a confusing time for everyone and starting to feel a bit like the twilight zone. Here’s an update on the impact COVID-19 is having on mortgage rates, qualification guidelines and mortgage payment difficulties. We saw mortgage rates at the lowest they had ever been last week. Now banks are starting to increase their rates […]

Benchmark Rate More Dynamic

Benchmark Rate

Finance Minister, Bill Morneau, announced changes to the benchmark rate that will come into effect on April 6, 2020. This is the rate a consumer has to qualify at for an insured mortgage, also known as the โ€œMortgage Stress Test.โ€ The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from […]

Home Maintenance Checklist

Maintenance Checklist

Here’s a Home Maintenance Checklist to stay on top of simple home maintenance tasks (like changing your furnace filter or testing your garage door opener.) Every homeowner should get to these tasks regularly (some may surprise you!) The quickest fix is not to have the problem in the first place.   โ–ก Test your garage […]

Create a Positive Community

Build a Positive Community

Do you want to live in a neighbourhood where kids play together in front yards, adults hang out on front porches, and everyone watches out for each other? Build a positive community with these helpful tips. Create a Neighbourhood Facebook Group Neighborhood Facebook groups allow any member to post and have unmoderated discussions. If you […]

FTHBI Tools

First-Time Home Buyer Incentive Tools

What is the FTHBI? The First-Time Home Buyer Incentive (FTHBI) is a program that’s sponsored by the Government of Canada. It allows first-time home buyers to finance a portion of a home purchase through a shared equity mortgage. If a first-time home buyer meets the criteria, they can apply for a 5% shared equity mortgage […]

Lower Your Mortgage Payment

Mortgage Payment

๐Œ๐”๐’๐“-๐‘๐„๐€๐ƒ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ๐ซ ๐ฆ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐ซ๐š๐ญ๐ž ๐ข๐ฌ ๐ก๐ข๐ ๐ก๐ž๐ซ ๐ญ๐ก๐š๐ง ๐Ÿ‘%. What if breaking your current mortgage will save you money (๐˜ข ๐˜ญ๐˜ฐ๐˜ต ๐˜ฐ๐˜ง ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ)? Even when you include the pre-payment penalty. When interest rates fall, breaking your existing mortgage and renegotiating a new one at a lower interest rate can save you thousands of dollars. ๐‡๐ž๐ซ๐ž’๐ฌ […]

Why is Budgeting Important?

How to Budget

What are you budgeting for, a family vacation, a bigger home or maybe a shiny new car? In this day and age, “things” are becoming easier to purchase and have. From pens to furniture, we can go shopping and find just about whatever we need (or want!) It used to be you had cash in […]

If Mortgages Were Cars

If Mortgages Were Cars

If mortgages were cars… …imagine you were shopping for a new car, instead of a new mortgage. The shiny Caymans are at the Porsche dealership. All the new Mustangs parked at the Ford dealership (consider these the banks!) You’re excited to buy a shinyย newย ride. So you drive around to different dealerships to see what they […]

No-Frills Mortgage Products

No-Frills Mortgages

No-Frills mortgage products typically offer a lower interest rate when compared to full-feature mortgage products. The lower rate is really the only perk. Here’re some drawbacks to a no-frills mortgage product. Potential Lack of Portability No-Frills products may not let you take your mortgage with you if you purchase another property before your mortgage term […]

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ContactRodney Biggar
Licensed Mortgage Associate
 
Phone 780-960-5897
(no texting capability)
Text 587-417-2494
(texting only, no phone)
Fax 780-960-5898
info@theBIGGARteam.ca
Hillside Centre
#204 636 King St.
Spruce Grove, AB
T7X 4K5

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