Entries by Callum Greig

Winning the LOWEST Rate

  Keys to the Lowest Rate Ready to buy a house and winning the lowest rate. Your mortgage rate is heavily influenced by the characteristics lenders look for in borrowers. To get your best possible deal and make sure you meet all of their criteria. Have an impressive credit score, demonstrate stable income and employment […]

Mortgage Trends in Canada

Looking to buy a home in Canada? You’re not alone. With home prices moving downward, it makes now a great time to jump into the housing market. But what does that mean for you as a potential homeowner? Let’s take a look at the current mortgage rate trend in Canada so you can make an […]

How the CHIP Reverse Mortgage Can Help You Support Your Adult Children

A CHIP Reverse Mortgage is a great answer for seniors with Canada’s recent housing market boom.  According to the Canadian Real Estate Association (CREA), between April 2020 and April 2021, the average house price rose by a 41.9%. The average purchase price rising to $696,000 and data from previous years is similarly impressive. This is, […]

Verifying Your Down Payment When Purchasing

  Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. Verifying the down payment when purchasing a home via supporting documentation is required by alllenders. Doing so also protects against fraud and confirms that you are not borrowing your down payment, which could changes debt […]

2019 Mortgage Trends report

Here are some Mortgage Insights from CMHC’s latest national edition of the Mortgage and Consumer Credit Trends report covers the second quarter of 2019. Here are a few facts to consider from the 2019 Mortgage Trends report. Contact us at https://primemortgageworks.com/contact/ for more information. indebtedness is higher than one year ago, increasing the vulnerability of […]

How Payment Frequency Can Save Money

One of the decisions you will need to make before your new mortgage is set up, is what kind of payment frequency you would like to have. For many, sticking to a monthly payment is the default, however, other payment frequency choices can save you money in interest costs over time. Monthly Payments Monthly payments […]

First Time Homebuyers DON’T Tips

First time homebuyers tips help you to be prepared before closing but as importantly, AFTER you are pre-approved for a mortgage. In fact, buyers ruin their chances of closing by making simple mistakes once they hear the word “approval” from the mortgage broker. These are some of the most common mistakes people make and most importantly […]

Getting Over the Down Payment Hump

One of the largest barriers to entry into home ownership is saving enough cash for a down payment. Small every day expenses add up; and depending on the market you live in, rent may also be eating a significant portion of your income each month. You do have options; here are some ways you may […]

How Mortgage Brokers Get Paid

Firstly, how do mortgage brokers get paid here at Prime Mortgage Works? We do not charge any retainer or upfront fee for our services. Actually, you don’t pay any fee directly to us for our services, ever! Yes, 100% free, no pressures advise! We are licensed professionals and are governed by provincial bodies, who have […]