Welcome to My Blog
Will Collections Impact Your Mortgage?
A question that comes up from time to time when discussing mortgage financing is, “If I have collections showing on my credit bureau, will that impact my ability to get a mortgage?” And as the answer might have a broader application than what you might initially...
4 Ways to Take Control of Your Finances in 2021
The beginning of a new year is an ideal time to review your finances. Hopefully, with the wild ride of 2020 behind us, 2021 is a time we can all move forward. Regardless of where you’re at financially or your financial goals, here are four areas to consider as you...
New Construction Assignment
One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender who has one set of products, brokers work with multiple lenders who offer a wide selection of mortgage...
Is Your Mortgage Up For Renewal In The Next 3-6 Months?
While this potential second wave of COVID-19 is causing uncertainty in the Canadian economy, understandably, many homeowners are on edge. And although it might feel right to sit tight and see how things pan out, if your mortgage is up for renewal in the next 3-6...
Bank of Canada Rate Announcement Dec 9th, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program. The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank...
What is Bridge Financing?
Let's say you have a home that you've outgrown, it's time to make a move to something more suited for your family. You have no desire to keep two houses, so you decide that selling your existing home, and moving into something new is the best idea. Ideally, when...
A Surefire Plan to Saving a Downpayment
If you’re looking to save money for a downpayment; or to save money for anything really, it all starts with clarity. First, you want to get clarity around your income, then clarity around your expenses, and then you need a plan. And although this might seem...
The Interest-Only Mortgage
Relatively self-explanatory, an interest-only mortgage is one where your entire mortgage payment goes to interest and does not pay down the principal mortgage amount at all. So at the end of your term, you will owe the same amount as when you got your mortgage. So you...
Access Your Home Equity
If you've been a homeowner for many years, chances are, your property value has increased significantly. One advantage of homeownership is the opportunity to build equity. Home equity growth, partnered with the security of living in your own home, is why most...
How to Establish New Credit
If you’re new to managing personal finance and you’re learning about credit, you’ve come to the right place. Establishing new credit is a bit of a catch 22. To build a credit history, you need credit. But you can’t really get credit without having credit. So, where do...
Bank of Canada Rate Announcement Oct 28th, 2020
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented...
What Will Mortgage Financing Look Like In 2021?
There is no doubt that 2020 was one for the books. It will be remembered as a year like no other. COVID-19 has caused significant national economic disruption, to say the least. While we’ve seen government intervention, record unemployment, mortgage payment deferrals,...
Separating And Have A Mortgage? Start Here.
With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a quick list of things to consider. You need...
Will a Temporary Loss of Income Impact Your Mortgage Post-COVID-19?
While unemployment peaked over 13% at the onset, it's hard to quantify just how many Canadians had some form of a reduction in their income over the last year. Especially if you're self-employed or your income varies year to year because you receive a bonus, pick up...
As Simple as Porting Your Mortgage!
As simple as porting your mortgage! Said by no one ever. The truth is, there is nothing simple about porting your mortgage. "Porting your mortgage" involves transferring the remainder of your existing mortgage term, outstanding principal balance, and interest rate to...
Why The Property Matters
When looking to qualify for a mortgage, typically a lender will want to review four main areas of your mortgage application. Income, credit, downpayment/equity and the property itself. Assuming you have a great job, excellent credit, and sufficient money in the bank...
Fixed or Variable?
If you're looking to buy a new property, refinance, or renew an existing mortgage, chances are, you're considering either a fixed or variable rate mortgage. Figuring out which one is the best is entirely up to you! So here's some information to help you along the way....
Bank of Canada Rate Announcement Sept 9th, 2020
Bank of Canada maintains commitment to current level of policy rate, continues program of quantitative easing. The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent...
Ultra-Low Interest Rates
Chances are if you’ve been paying attention to the news as the Canadian economy continues to work through the COVID-19 pandemic, you’ve heard that interest rates are at an all-time low. And it would appear that they will remain low for a while. In fact, the Bank of...
Mortgage Post Bankruptcy
This should come as no surprise, but sometimes life throws you a financial curveball. Bankruptcy and consumer proposals happen. It doesn't mean your life is over, and it doesn't mean you won't ever qualify for a mortgage again. The key here is to get a plan in place...
What is a Second Mortgage?
If you're relatively new to the world of mortgage financing, the term "second mortgage" might cause a bit of confusion; especially if you're a first-time homebuyer buying your first home. You might assume that when your first term is up or if you sell your first home,...
Empowerography Podcast – Sabeena Bubber
I was happy to have recently been interviewed by Brad Walsh from Empowerography. In this episode of the Empowerography Podcast, Brad Walsh's guest is Sabeena Bubber. Sabeena is an award winning Mortgage Professional with Xeva Mortgage, working from her...
3 Reasons to Use an Independent Mortgage Professional!
If you need to borrow money to finance any property, working with an independent mortgage professional will save you money, time, and provide you with better options than your bank. And if that is the only sentence you read in this entire article, you already know all...
Do You Need Time For Your Retirement Investments To Recover?
COVID-19 is wreaking havoc on retirement investments, particularly for those who rely on dividends as part of their income. Over the past decade, many older Canadians have taken a riskier approach with retirement investments because of low bond yields and interest...
Mortgage Deferrals Now Recorded on Credit Reports
If COVID-19 has negatively impacted your finances and you're currently deferring your mortgage payments, you should know that this will be visible on your credit report. Here is an image from a recent credit report. In this scenario, it shows that the mortgage was...
Payment Frequency, Does it Really Make a Difference?
It has been said that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrowed, plus interest. However, how you make your mortgage payments, the payment frequency, is...
Bank of Canada Rate Announcement July 15th, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing. The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is...
What You Can Expect When Locking in a Variable Rate
If you have a variable rate mortgage, and recent economic news has you thinking about locking into a fixed rate, here is what you can expect will happen. Firstly, your lender will be very happy as they will now make considerably more money off you. Not only will your...
Looking for a new mortgage? Start here.
It's safe to say that things have (mostly) calmed down in the mortgage world since the beginning of COVID-19. The rush of mortgage deferral applications appears to be behind us. So if you're looking for a new mortgage, right now is an excellent time to get things...
Latest in Mortgage News, COVID-19, and Economic Recovery.
Although the volume of news over the last month has been pretty tame in comparison to when COVID-19 initially hit, there has still been a lot going on. If you find yourself wondering about the current state of affairs as it relates to real estate, mortgage financing,...
Improving Your Credit Score
Along with employment stability, and downpayment/equity, your credit score and how you manage your credit is a huge factor in qualifying for a mortgage. If you want the best interest rates available on the market, the higher your credit score the better. However, if...
Spousal Buyout Mortgage?
If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest...
CMHC Guidelines Changing July 1st 2020
CMHC just shared the following press release. If you have any questions, please don't hesitate to contact me anytime! CMHC RELEASE JUNE 4th 2020 The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing. Job losses, business closures and a...
Bank of Canada Rate Announcement June 3rd, 2020
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. Incoming data confirm the severe impact of the COVID-19 pandemic on the...
Advice for Living Through These Uncertain Times
It only takes a quick trip to the grocery store to realize that life is VERY different than it was just a couple of months ago. COVID-19 has already left a permanent mark in modern human history. So as you continue life mid-pandemic, here's some good advice: don’t...
Your Financial Plan to Becoming Debt-Free Post-COVID
Although everyone is experiencing the impact of COVID-19 differently, one thing has become evident. As a result of the pandemic, we’re all paying closer attention to our finances. Looking at life post-COVID, it’s going to be essential to have a financial plan. Here...
Access Your Home Equity! COVID-19
As the initial shock of living through a global pandemic wears off and restrictions start to loosen, it would seem that Canada is en route to de-COVID soon (time will tell). If you’ve been waiting until things flatten out before making any significant financial...
A Mid-Pandemic Mortgage Checkup?
If you've been sitting on the sidelines waiting to see the full impact of COVID-19 on the economy before asking any pressing questions about your financial situation, now might be a good time for a mid-pandemic mortgage checkup! Here is a list of questions that have...
Questions About Appraisals During COVID-19
If you're looking to purchase or refinance a property while most of Canada is self-isolating to stop the spread of COVID-19, you probably have some questions around how the pandemic is impacting appraisals. If you're looking to put a plan together that involves...
Open for Business During COVID-19
If you're thinking about buying a new property, refinancing your existing mortgage, or if your mortgage is up for renewal, you might be wondering if getting a mortgage is even possible amid a global pandemic? Be assured that it is possible, mortgages are being...
Bank of Canada Maintains Overnight Rate Target and Unveils New Market Operations
The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide...
Understanding the Government of Canada COVID-19 Package
Earlier this week the Government announced new measures to help employees and business owners through the many closures and restrictions imposed. Here's a chart for your reference. If you have any questions, please contact me anytime!
Are Interest Rates Going Up and Down at the Same Time? COVID-19
If you’re paying more attention to the Canadian economy due to COVID-19, and it seems like you’re getting mixed messages; that mortgage interest rates are going both up and down at the same time, you’re not that far off. There are a lot of moving parts, and to find...
Bank of Canada lowers overnight rate target to ¼ percent
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is...
Is Now a Good Time To Buy? (Covid-19)
If you’ve been thinking about buying a new home, chances are the instability of the Canadian economy and the impact Covid-19 has you second-guessing yourself. And chances are, at this point in time, you are probably right to do so. Right now there is uncertainty in...
Deferring Mortgage Payments. (Covid-19)
In response to the Covid-19 crisis; for those individuals financially affected, banks and the government have announced that payment relief may be available for up to 6 months of deferred mortgage payments. As information is changing daily, or hourly, if you have...
Bank of Canada Lowers Overnight Rate Target to ¾ percent
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent, effective Monday, March 16, 2020. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measure...
Getting on the Property Ladder
As property prices continue to rise across Canada, the conversation around "how to climb the property ladder" has made a subtle shift to "how to get on the property ladder in the first place." Especially if you're single. Whereas before it was assumed anyone would...
Bank of Canada lowers rate by 50 basis points | March 4th 2020
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. While Canada’s economy has been operating close to potential with inflation on target,...
The 10 Don’ts of Mortgage Closing
Okay, so here we are... we have worked together to secure financing for your mortgage. You are getting a great rate, favourable terms that meet your mortgage goals, the lender is satisfied with all the supporting documents, we are broker complete, and the only thing...
Contact Me Anytime
Sabeena Bubber, AMP
Mortgage Professional
P: 604-862-8526
E: sabeena@xeva.ca
Office Locations
500-224 West Esplanade
North Vancouver, BC.
V7M1A4
