4 Mar

What is a Reverse Mortgage ?

General

Posted by: Randell Toporowski

A reverse mortgage is a mortgage, but it is a special type of mortgage. A reverse mortgage allows you to access the equity in your home and convert it to tax-free cash. The cash funds that you receive are not identified as income and can be used for whatever purpose you wish; hence they are […]

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29 Jul

Less Stress? More Opportunity? Bank of Canada Qualifying Rate Reduced

General

Posted by: Randell Toporowski

The Bank of Canada Qualifying Rate has been reduced to 5.19% from 5.34%.  This is commonly referred to as the “Benchmark Stress Test” that is used when assessing and qualifying a Borrower(s) for a mortgage in Canada.  This benchmark rate is based upon the Bank of Canada conventional five-year rate and is around 1.50% higher […]

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22 Jul

Risk and Commercial Mortgages : Informed Consent and its Authorization

General

Posted by: Randell Toporowski

Commercial mortgage origination is a process.  It is a multi-faceted process.  It is a detailed process.  The concept of Informed Consent defines a process in which an individual (Corporation) consents to or withholds consent to the various steps in the mortgage origination process.  Informed consent must have the following elements: It must be Voluntary the […]

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15 Jul

Risk and Commercial Mortgages : The Corporate Structure and Share Capital

Mortgage Information

Posted by: Randell Toporowski

Risk, its existence and its management in Commercial Lending preoccupies the minds of both Lenders and Borrowers.  Both are risk averse.  However, each group sees risk through a different lens, or more appropriately different sides of the same coin.  Banking has become a process of employing polices and procedures to manage risk in a complex financial marketplace.  […]

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3 Jan

Commercial Mortgage Application: Standard Documentation Required

Mortgage Information

Posted by: Randell Toporowski

From time to time businesses need capital to fund the development and acquisition of assets, purchase businesses, and refinance properties.  The capital budgeting process is used to determine the cost of the capital that is needed and is a fundamental process to the borrowing procedure.  Interest rates, loan term, amortization period, administration fees, early payout […]

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16 Jan

Mortgage Basics – What is this thing We Call Credit?

Mortgage Information

Posted by: Randell Toporowski

When applying for a mortgage you are going to hear a lot about this topic.  I mean this!  You are going to hear more than you ever thought you wanted or needed to know about it!  The advice is going to come from everyone.  This includes family, friends, neighbors, real estate agents and maybe you […]

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