Call Me BEFORE Listing Your Home!

Katherine Martin • August 12, 2015

You Know What They Say About Assumptions!

If you are thinking about selling your existing property and financing a new one, you should really consider contacting me BEFORE you list your current property. No, I’m not a Real Estate Agent, and I don’t want to list your property for you, I am your mortgage broker and I simply want to make sure that you are going to qualify for your next purchase BEFORE you go and sell your existing property. Because I would hate to see you end up homeless.

Now, if this sounds like common sense to you, perfect, I expect your call, but if you are wondering why you should call me first, you are most likely making the assumption that because you qualified for a mortgage before, you will qualify again. Unfortunately, not so. Over the past couple of years there have been many changes to how people qualify for a mortgage and lots of products and programs have been eliminated or scaled back.

Mortgage qualifications and lender guidelines simply aren’t what they used to be. It’s a lot harder to get a mortgage now in 2015 than it was back in 2010-2014. Don’t just assume you will qualify for a mortgage going forward, start the process by talking with me!

Even if your financial situation has only improved since you secured your last mortgage, there is still a chance you might not qualify going forward. The key is simply having a look and developing a plan. I am always available to you in order to sit down and take a look at your numbers.

Taking the time to meet with me at the very beginning will ensure that you don’t start down a path and get blindsided by your assumptions.

Of course the worst case scenario would be for you to sell your existing home believing that you will qualify for a mortgage going forward just to realize that you can’t, and it’s too late, you no longer have a home. Or even if you were to start shopping for a property (before selling your existing), just to find your dream house, put in an offer only to realize that you no longer qualify for financing and you have to back away from the purchase. That is heartbreaking! I assure you, although these scenarios may seem to be far fetched, they are more commonplace than you would think.

The truth is, people only know what they know, and the combination of rule changes and assumptions in mortgage qualification can be very dangerous. Most people only care about mortgages every 3-5 years, there is no need for them to stay current with lender guidelines. However I do this every day, so please put my experience to work for you.

Now, chances are you will most likely qualify for a new mortgage, but I can’t stress enough the importance of having a plan from the start… and who knows, maybe I can even help you figure out the best way to proceed by shining light on options you might not have even known existed to you.

Let me finish with this… if you are thinking of selling your existing home to buy something new…

Let’s work through all the numbers together and put a plan together before you go and list your property and end up homeless.

Katherine Martin


Origin Mortgages

Phone: 1-604-454-0843
Email: kmartin@planmymortgage.ca
Fax: 1-604-454-0842


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What to Expect in the Closing Process: A Step-by-Step Guide

By Katherine Martin • February 11, 2026
You’ve found the right home, your offer’s been accepted, and your financing is approved—congratulations! But before you can pick up the keys and celebrate, there’s one more important stage: the closing process. Closing is the final step in your homebuying journey, where all the paperwork, legal details, and financial transactions come together. It can feel overwhelming if you don’t know what to expect, but with the right preparation, closing can be smooth and stress-free. Here’s a step-by-step guide to help you understand the process. Step 1: Hire a Lawyer or Notary A real estate lawyer (or notary, depending on your province) handles the legal side of closing. They will: Review the purchase agreement and mortgage documents Conduct a title search to confirm the seller has the legal right to sell the property Ensure the mortgage lender is properly registered on the title Handle the transfer of funds between you, the lender, and the seller Your lawyer or notary will be your main point of contact during closing, so choose one you trust and who communicates clearly. Step 2: Finalize Your Mortgage Your lender will send the mortgage instructions directly to your lawyer or notary. At this stage: You’ll provide proof of property insurance (lenders require this before releasing funds) You’ll confirm your down payment and closing costs are available in your lawyer’s trust account The lawyer will prepare all documents for your review and signature Step 3: Pay Closing Costs Closing costs typically range from 1.5% to 4% of the purchase price. These can include: Legal fees Title insurance Land transfer tax (where applicable) Adjustments for property taxes or utilities prepaid by the seller Home inspection or appraisal fees (if not already paid) Your lawyer will provide a final statement of adjustments so you know exactly how much is due on closing day. Step 4: Sign the Paperwork A few days before closing, you’ll meet with your lawyer or notary to sign all the necessary documents, including: Mortgage agreement Title transfer Insurance confirmations Statement of adjustments Bring valid government-issued ID to this appointment. Step 5: Transfer of Funds On the day of closing: Your lender sends the mortgage funds to your lawyer Your lawyer combines these funds with your down payment and pays the seller Legal ownership of the property is transferred into your name The lender is registered on title as a secured creditor Step 6: Get the Keys! Once the paperwork is filed and the funds have cleared, your lawyer will confirm that the transaction is complete. You’ll then get the keys to your new home—officially making it yours. The Bottom Line The closing process is a series of important steps, but with the right team in place, it doesn’t have to be stressful. By working closely with your mortgage professional and lawyer, you’ll have guidance every step of the way—from signing the documents to turning the key in the front door. If you’d like help preparing for the closing process—or want a clear breakdown of your own closing costs— connect with us today.

Buying a Vacation Property or Rental? Here’s What Lenders Look For

By Katherine Martin • February 4, 2026
Owning a vacation home or an investment rental property is a dream for many Canadians. Whether it’s a cottage on the lake for family getaways or a rental unit to generate extra income, real estate can be both a lifestyle choice and a smart financial move. But before you dive in, it’s important to know what lenders look for when financing these types of properties. 1. Down Payment Requirements The biggest difference between buying a primary residence and a vacation or rental property is the down payment. Vacation property (owner-occupied, seasonal, or secondary home): Typically requires at least 5–10% down, depending on the lender and whether the property is winterized and accessible year-round. Rental property: Usually requires a minimum of 20% down. This is because rental income can fluctuate, and lenders want extra security before approving financing. 2. Property Type & Location Not all properties qualify for traditional mortgage financing. Lenders consider: Accessibility : Is the property accessible year-round (roads maintained, utilities available)? Condition : Seasonal or non-winterized cottages may not meet standard lending criteria. Zoning & Use : If it’s a rental, lenders want to ensure it complies with municipal bylaws and zoning regulations. Properties that fall outside these norms may require financing through alternative lenders, often with higher rates but more flexibility. 3. Rental Income Considerations If you’re buying a property with the intent to rent it out, lenders may factor the rental income into your mortgage application. Long-term rentals : Lenders typically accept 50–80% of the expected rental income when calculating your debt-service ratios. Short-term rentals (Airbnb, VRBO, etc.) : Many traditional lenders are cautious about using projected income from short-term rentals. Alternative lenders may be more flexible, depending on the property’s location and your financial profile. 4. Debt-Service Ratios Lenders use your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios to determine if you can handle the mortgage payments alongside your other obligations. With investment or vacation properties, lenders may apply stricter guidelines, especially if your primary residence already carries a large mortgage. 5. Credit & Financial Stability Your credit score, employment history, and overall financial health still matter. Since vacation and rental properties are considered higher risk, lenders want reassurance that you can handle the additional debt—even if rental income fluctuates or the property sits vacant. 6. Insurance Requirements Rental properties often require specialized landlord insurance, and vacation homes may need coverage tailored to seasonal or secondary use. Lenders will want proof of adequate insurance before releasing mortgage funds. The Bottom Line Buying a vacation property or rental can be exciting, but financing these purchases comes with extra rules and considerations. From higher down payments to stricter property requirements, lenders want to be confident that you can handle the responsibility. If you’re considering a second property, the best step is to work with a mortgage professional who can compare lender requirements, outline your options, and find the financing that works best for you. Thinking about making your dream of a vacation or rental property a reality? Connect with us today.
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