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Michael Poon Durham Region - Atlantic (HS) Financial Corp #10422
Broker #M08000998
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Understanding Insurance
Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! Well, you might have one kind of insurance, but you might be missing coverage elsewhere. It is important to understand all the different insurance products to ensure you have proper coverage . ...more 
Looking to Upsize Your Home?
According to RE/MAX, one of the biggest trends for Canadian homeowners in 2021 are move-up buyers looking to purchase a home that offers more space for them and their families. In fact, this is true for a whopping 29% of Canadians! Unsurprisingly, this demographic is made up mostly of younger Canadians (under 35) with growing families . ...more 
The Benefit of Rate Holds
The term “rate hold” may be something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! ...more 
New Year Resolutions for Your Home
Your finances aren’t the only thing that has room for new resolutions in 2021! Consider these great ideas to make your home feel brand new come January... ...more 
Making Your Finances Work For YOU in 2021
After the whirlwind year of 2020, making your finances work for you is already top of mind for Canadians. Why not roll that into a brand-new resolution moving forward into 2021? Here are some ideas to make your finances work for YOU in the New Year!...more 
How to Enjoy a Debt-Free Holiday
The holidays are coming up! As much as these celebrations bring us joy and harmony, they can also bring us stress. This is particularly true when it comes to your finances! However, don’t lose hope that this will be another draining year on your pocketbook. In fact, with a little planning, there are a few ways you can make sure your holidays are stress and credit-free. ...more 
Fixed vs. Variable Rate Mortgages
If you are new to the world of mortgages, you probably have a lot of questions - such as whether to choose a fixed-rate mortgage or variable -rate mortgage. Even experienced home owners can sometimes struggle with this, and may wonder if they made the right choice or if they should switch....more 
Back to School: Credit Clean Up!
It’s time to go back to school… for your finances! The Fall is the perfect time for a credit clean-up so that you are ready for the holiday spending season. ...more 
COVID-19 UPDATES AND WHAT HOMEOWNERS NEED TO KNOW
At Mortgage Architects, we recognize that many homeowners may be looking for guidance around mortgage financing. We are committed to updating you - our customers - on the current climate and how the recent COVID-19 developments may impact your mortgage, now or in the future. We know that things may seem uncertain now, but we are working hard to gather all pertinent information and help you to understand your options during this difficult time....more 
5 Mortgage Tips To Help You Afford A Home
Here are some helpful solutions for those looking to get into the market....more 
What Your Banker Won't Tell You!
Did you know the biggest difference between getting your mortgage from a bank vs. a mortgage broker is that the bank only has access to their products, while I, your mortgage broker, have access to hundreds of different lending institutions and mortgage products to fit your unique needs? ...more 
Mortgage Insurance and Your Borrowing Power
As a Canadian homebuyer or homeowner, your borrowing power is impacted by a few factors. Recent changes to the lending policies announced by CMHC, The Bank of Canada’s qualifying rate and your banks’ Prime Rate and mortgage stipulations are all things to consider when thinking about purchasing a home....more 
Should You Go Fixed or Go Variable?
It is typically one of the first questions someone asks when talking about your mortgage: What’s your rate? While everyone can recall their rate off the top of their head, it tends to be the only detail of the mortgage they can remember. Although the rate is important, your mortgage is so much more than a rate, and if you’re not paying close attention, it can cost you money....more 
Advantages of a Pre-Approval
Getting pre-approved can be a vital step to the home-buying process! But don’t confuse this with pre-qualification; you can get a pre-qualification through the My Mortgage Planner app to determine what you might qualify for. ...more 
What to Know BEFORE You Start House-Hunting
As exciting as it is to start your journey towards home ownership (or even up- and down-sizing), there are a few things you should consider first. ...more 
5 Things to Know Before you Renovate
Renovating your space can be a big project! Before you get started, we have put together a list of the 5 most important things you need to know before you renovate: ...more 
What to Know if You’re New to Canada
Canada has seen a surge of international migration over the last few years. With all these new faces in town wanting to plant roots in this great country, we wanted to touch base on some of the details surrounding mortgages and how new immigrants can qualify to be homeowners. ...more 
Determine Your Monthly Budget
It's easy to get overwhelmed when thinking about your finances, especially if you are saddled with debt. The best way to determine your monthly budget is to start by recording your total monthly income for the family and your total monthly expenses. ...more 
To Defer or Not to Defer
With Canada's major Mortgage Finance Companies (MFC's) and all six big banks offering mortgage deferrals of up to 6 months, as well as case-by-case options from credit unions, one of the major questions currently facing Canadians amid COVID-19 is do you defer your mortgage? ...more 
What You Need to Know Before You Buy
Spring is one of the busiest seasons for retail activity as the good weather gives people lots of time for decluttering, showing the home, garage sales, packing and moving into your new space! Buying a home is an extremely exciting and fulfilling adventure, but before you get started let’s go through some of the most important things you need to know before you buy a home. ...more 
Up or Down-Sizing? Get Yourself Mortgage Ready for a Move This Spring!
Moving homes can be triggered by a variety of things, but the most common reason is space…not enough, or perhaps a little too much. ...more 
How to Leverage Your RRSP’s to Buy Your First Home
Are you in the market for your first home? Dreaming of a space you can call your own? If you are an eligible first time home-buyer, then contributing to your RRSP’s before the March 2 deadline can help you increase the funds available for your home purchase. ...more 
Refinancing & Paying a Mortgage Off Faster
By refinancing, you may, at first glance potentially be extending the time it will take to pay off your mortgage, but there are many ways to pay a mortgage off faster and save thousands in interest payments. It is worth speaking to your broker to discuss merging higher interest balances into a mortgage balance....more 
An Age Old Debate
Just about anytime two people of different generations discuss entering the real estate market, the question arises: Who had it easier trying to get into the housing market?...more 
6 Things All Co-signors Should Consider
Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc.). In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing measures that are now in place for Canadian borrowers....more 
Canada's First Time Homebuyer Incentive Program
The new First-Time Home Buyer Incentive allows eligible first-time homebuyers, who have the minimum downpayment for an insured mortgage, to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada....more 
Mortgage Brokers Can Help You Get Financing for Every Stage of Your Life
Buying a home can feel like a journey. Whether it’s your first or your 10th, there are many steps to go through and things you should be aware of. The trend towards using mortgage brokers to arrange mortgage financing is continually increasing. Why has this shift occurred? Well, very simply put, TOP-NOTCH SERVICE and UNBIASED ADVICE!...more 
4 Costs To Consider As A First-Time Homebuyer
Oftentimes even the most organized and detail oriented first-time homebuyer can overlook some unexpected costs that come with the purchase of their new home. We are outlining four of the costs that we most commonly see overlooked by homebuyers in hopes that we can better prepare you—and save you from a few surprises!...more 
A Home Inspection Can Give You Peace Of Mind
It’s easy to get caught up in the moment when you’re looking for your forever home. You see all the glitter but maybe fail to see that not everything is gold. And that’s where a home inspection can come into play. For a roughly $500 investment on the biggest purchase of your life, it should be a no-brainer to have a home inspection, whether the home is 100 years old or brand new....more 
Is Owning A Home Truly The Best Bet?
Whether you’ve just bought your first home or you’ve been a homeowner for years, there’s good news for you. You can feel confident you made the right decision for your long-term economic wellbeing according to the findings of a study by Mortgage Professionals Canada (MPC), the national association that represents the mortgage industry. ...more 
3 Steps To Take You From Pre-Approval To Getting The Keys
Picture this: You’ve finally been able to put away enough for a down-payment on your dream home. It’s taken you years saving diligent but you did it! You have also been working on improving your credit score and paying off debts. You are at a place of financial stability... KUDOS TO YOU! So now what do you do? Here are the three steps that will take you from browsing for a new home to getting the keys to your new place....more 
Are you buying a house?
The key to your new home is just a click away! We’re making it easier for you to navigate the Canadian mortgage landscape! My Mortgage Planner is the new mobile app from Mortgage Architects that provides you with useful tools to help eliminate the stress of getting a mortgage....more 
2016 TFSA Contribution Limits
The TFSA contribution amount for 2016 is $5,500, which bring the cumulative contribution limit to $46,500....more 
Ontario to create condo authority to help resolve disputes
Ontario government to introduce legislation to make it easier and less expensive to resolve disputes between individual condo owners and the condo board. A new board called the Condominium Authority similar to a Rental Tribunal to mediate and handle disputes . This board will be funded by condo developers plus a $1 per month added cost for each individual condo owner per month. This legislation shall also include new rules restricting developers to pass "surprise" increases to condo fees in the second year such as mortgage costs to carry guest suites, etc. Also increased educational requirement for board directors and property managers...more 
CMHC Insurance Premium to Increase on June 1, 2015
Find out what is happening with the new CMHC insurance premium changes!...more |
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