What Happens If You Waive Your Financing Condition?
When you waive your financing condition, your offer to buy a home becomes firm and binding even if your mortgage falls through. You lose the safety net that lets you walk away and recover your deposit if a lender says no. Buyers waive this condition to make their offer more competitive, but the move carries […]
Do Mortgage Brokers Charge Fees in Canada?
For most residential mortgages in Canada, the borrower pays nothing to use a mortgage broker. The lender pays the broker a commission when the mortgage funds, so a typical buyer with good credit gets the service at no direct cost. Fees only appear in specific situations, usually private mortgages or difficult credit files. Knowing when […]
The Smith Manoeuvre Explained for Canadian Homeowners
The Smith Manoeuvre is a Canadian tax strategy that converts the non-deductible interest on your home mortgage into tax-deductible investment interest. It lets you build an investment portfolio while you pay down your home, using the equity you create with every mortgage payment. The strategy was popularised by Fraser Smith and relies on a specific […]
Your First Home in Ontario Starts Here — Let’s Get You the Right Mortgage
Buying your first home is one of the biggest financial decisions you’ll ever make. It can feel overwhelming — between land transfer taxes, mortgage stress tests, down payment rules, and government programs, there’s a lot to take in. As a licensed Ontario mortgage broker, Pekoe.ca exists to cut through the noise and get first-time buyers […]
Your Mortgage Is Renewing in Ontario. Don’t Sign the First Offer.
Your lender will send a renewal notice 30 to 120 days before your term ends. It will look official. It will feel like something you just sign and return. It isn’t. A renewal offer is a starting point, not a final answer. Lenders know that most borrowers accept whatever rate is on the page. Renewal […]
Buying in Canmore? Here Is What You Need to Know About Canmore Mortgages
Canmore is one of the most desirable real estate markets in Canada. It is also one of the most complex to finance. High property values, recreational zoning designations, short-term rental requirements, and a constrained land supply mean that not every lender will approve every property in Canmore. Working with a mortgage broker who understands the […]
Canadian HELOC Rule Changes 2023: What Borrowers Need to Know
On October 31, 2023, the Office of the Superintendent of Financial Institutions (OSFI) implemented Guideline B-20 changes that fundamentally altered how Canadians access home equity through HELOCs. The core change: federally regulated lenders can no longer allow the combined balance of a HELOC and any associated mortgage to exceed 65% of the property’s appraised value. […]
Your Path to Homeownership
Seeking a Mortgage Broker in Kitchener? Dive into the world of Pekoe Mortgages. Explore how our services can help you secure the perfect home loan.
Unlocking The Doors to Your Canmore, Alberta Dream Home: A Canmore Mortgage Broker Secret
Finding your dream home in Canmore is an exhilarating journey, but the path to homeownership can be complex. Fortunately, there are mortgage brokerage secrets that can help you unlock the doors to your dream home. In this blog post, we’ll reveal Canmore’s top mortgage brokerage secrets, empowering you with valuable insights to secure the perfect […]
The Ultimate Guide to Choosing a Canmore, Alberta Mortgage Broker
In the bustling real estate market of Canmore, Alberta, finding the perfect mortgage for your dream home can be a daunting task. This is where a knowledgeable and experienced mortgage broker comes in. A reputable mortgage broker can help you navigate the complex world of mortgages, securing the best rates and terms tailored to your […]