Any time I sign up new clients for a mortgage, we always spend a lot of time discussing property taxes. We come to the point in the meeting when the client has to decide to either pay the property taxes with the mortgage payments or on their own. 90% of the time clients ask to pay taxes with the [...]
Your credit score is a key element when applying for a mortgage. It is very important that you take care of your credit from the day you get your first credit card. Small credit issues can haunt people when trying to apply for a mortgage, even if those issues were years ago. Here are a few tips [...]
I am often asked to explain why a client should choose to work with a Mortgage Broker (versus their bank, credit union, etc.). The simple answer (the one that we've all heard) is that a mortgage broker offers a variety of mortgage products from multiple lenders and banks, whereas other financial [...]
One of the biggest mistakes homeowners can make is not taking advantage of prepayment privileges associated with their mortgage. Most mortgage lenders will allow you the following privileges to pay down your mortgage quicker: Increase your mortgage payments by up to 20% each year Make lump sum[...]
Variable rate mortgages have been impacted by the two overnight rate cuts by the Bank of Canada so far this year. In total, the overnight rate has dropped by .50% (two cuts of .25%). The major banks have passed on some of those savings to customers by reducing the prime rate from 3.0% to 2.70% (two [...]
This morning, the Bank of Canada (BoC) cut the overnight lending rate by 25 basis points to 0.50%. According to the BoC, the rate cut was necessary to stimulate the economy, which has suffered from weak oil prices and may technically be in a recession. TD has since lowered their prime lending [...]
I have been working in the mortgage industry in Kingston for almost 9 years now. I started out as a Marketing Coordinator where I was responsible for our company's advertising and coordinating community events within Kingston. From there, I moved into the role of Mortgage Assistant where I assisted [...]
As your Mortgage Broker, it goes without saying that I want to handle all of your mortgage transactions. There can be times, however, depending on the situation, when it just doesn't make sense for me to handle the mortgage for you. If it's not in your best interest for me to arrange your mortgage, [...]
When people come see me for a mortgage, they are often focused solely on the interest rate. While rate is important, there are so many other mortgage features that need to be considered, like the penalty. In general, most lenders calculate penalties the same way but how they interpret that [...]
The Mortgage Professionals - Serving Kingston Since 1989
License Info
The Mortgage Professionals
License #10280Mitch Thibodeau, Mortgage Broker
License #M09001443
775 Blackburn Mews, Kingston, ON K7P 2N5 Office: (613) 384-4000 x253 Cell: (613) 328-6647 Fax: (613) 384-4047 [email protected]