Mortgages With Meghan

Don't buy until you do this...👇

Before you buy, refinance, or invest, check these four areas first.

The difference between a smooth approval and a stressful one often comes down to preparation.

Start with a plan that makes every move easier.

Ready to get started? Reach out today to learn more!

Why are rental mortgage rates higher?

It all comes down to risk vs reward for the lender.

With a minimum down payment on an owner-occupied home, the loan is default insured, meaning the lender is protected, not the homeowner.

💸 Less risk = lower rate.

Once you have 20% down or more, the loan is no longer insured, so lenders bump the rate slightly to offset the added risk.

And for rental properties, that risk goes up again.

What if it’s vacant? What if a tenant damages it or stops paying rent?

Those scenarios increase the chance of missed payments and that means higher risk for the lender, which means higher rates for you.

📌 Save this if you’re thinking about buying an investment property.

📩 Message me if you'd like to run some pre-approval numbers!

The quickest way to lower your mortgage payment?

👉 Extend your amortization from 25 years to 30 years.

This stretches the loan over a longer period, reducing your monthly payment and easing cash flow.

✅ Great if you need breathing room in your budget

⚠️ Remember: a longer term means paying more interest over time.

Let’s review your numbers and see if this strategy fits your goals before making a move.

Stop waiting for rate cuts!

The Bank of Canada’s schedule shows the next policy dates and the pause keeps uncertainty high, so fixed mortgage rates are still driven by bond markets, not Prime.

Lock in a fixed rate now for certainty, you can always refinance later if rates drop.

Message me to lock your rate and sleep better.



Source: https://www.bankofcanada.ca/press/upcoming-events

Buying in another province isn’t as easy as you think... ⚠️

Every province has different rules, taxes, and lending requirements.

What works where you live might not work where you’re moving.

That’s why it pays to talk to a mortgage expert early, before house-hunting, so you don’t run into expensive surprises later.

I'm here to help!