Author: Tim

Tim is a mortgage agent in Barrie who specializes in helping first-time home buyers. He works with a variety of lenders and can help customize a mortgage with the best rates & options that fit the needs of each customer.

Government Releases a ‘Mortgage Prepayment Code’

Yesterday, the federal government published a ‘Mortgage Prepayment Code‘ which basically guides all (federally regulated) lenders how they communicate the IRD (Interest Rate Differential) to borrowers. Yay! This has been a long time coming. For years, banks and lenders have been obscuring penalty descriptions with vague, complicated formulas for calculating prepayment charges. A link to… Continue reading Government Releases a ‘Mortgage Prepayment Code’

Family Day

People are rarely thinking about real estate and finances on holidays, so we usually take the day off here on BarrieRealEstateTalk.ca as well.  Family Day has been around in Ontario since 2008, and it’s basically a holiday that was placed in the middle of February to give us a break between the Christmas/New Years holidays, and Easter.… Continue reading Family Day

Interest Adjustment – Getting Up to the Starting Line

Article courtesy of MCAP.   The best way to understand the concept of interest adjustment is to start with knowing and understanding the term “Interest Adjustment Date” or IAD. Every fixed rate mortgage has an IAD and the name implies that this is the date upon which an interest adjustment will take place but that’s… Continue reading Interest Adjustment – Getting Up to the Starting Line

Mortgage Monday Rate Update – February 2012

Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the… Continue reading Mortgage Monday Rate Update – February 2012