Mortgage 101 with Clinton Wilkins

Todd and Clinton regroup to wrap up their discussion on Pride in Homeownership. They touch on the impact of political uncertainties, such as trade wars and interest rates, on the housing market. They noted that while rates have decreased, the market remains high, affecting affordability. Clinton highlighted the trend of younger buyers receiving large family gifts, often $100,000, to make down paym...

Clinton and Blair are back to answer more mortgage questions from listeners. The two explain that mortgage payments are relatively stable, with a portion going to interest and the rest to principal. They emphasize the importance of the stress test in ensuring affordability and protecting borrowers from financial shocks. Clinton notes that while interest rates have risen from sub-2% to around 4%, t...

Todd, Clinton, welcome guest Blair Patterson to address questions from listeners, including how to prepare for buying a home in 10 years, the importance of automatic savings, and the impact of interest rates on mortgage payments. They emphasize the significance of credit scores, the benefits of automatic payments, and the challenges faced by queer clients in the housing market. Blair shares his ex...

Clinton Wilkins and Todd Veinotte discuss the intersection of Pride Month and home ownership. They highlight the importance of continuing to address issues of equality, noting that the percentage of homes owned by queer people is lower than that of straight people. Clinton shares his experiences as a mortgage broker, emphasizing the challenges faced by the queer community, such as socioeconomic ba...

Clinton Wilkins and Todd Veinotte discuss the importance of credit monitoring, especially in light of the recent Nova Scotia Power cyber breach affecting 200,000 customers. They recommend using free apps like Borrowell (Equifax) and Credit Karma (TransUnion) for weekly updates, which do not impact credit scores. For more comprehensive monitoring, paid services from Equifax and TransUnion cost arou...

Todd Veinotte, Clinton Wilkins, and Trevor Gordon (of Home Equity Bank) discuss the importance of aging in place for retirees. They explore the benefits of a reverse mortgage, highlighting its flexibility and the freedom it provides to clients who use it. The program is equity-driven, not credit-driven, and caters to seniors with strong credit but limited cash flow. The three discuss eligibility,...

Todd Veinotte and Clinton Wilkins welcome Trevor Gordon, Business Development Manager at Home Equity Bank, to discuss reverse mortgages. Trevor explains that Home Equity Bank has been providing reverse mortgages for over 30 years. He highlights that the average client and dispels common misconceptions about reverse mortgages, such as the bank taking the property, stressing their role in helping re...

Clinton Wilkins and Todd Veinotte discuss the impact of the new government's financial policies on the mortgage market, highlighting the HST exemption on homes valued at $1.5 million or more, which could save homeowners up to $250 monthly. They also address the rising costs of home ownership, including unexpected expenses like a $3,000 heat pump repair. They also touch on the challenges of living...

Todd and Clinton discuss the evolving landscape of mortgage lending, highlighting its complexities and the importance of staying informed. They emphasize the necessity of monitoring credit and bank accounts to avoid fraud. They also discuss the challenges faced by first-time homebuyers and the impact of regulatory changes, such as the foreign buyers ban, on the Halifax market. The conversation con...

Sandi Burns, Chief Credit Officer at Manulife Bank, discusses the increasing prevalence of mortgage fraud, particularly in Atlantic Canada. She highlights "fraud for shelter," where individuals alter documents to qualify for mortgages, and "fraud for profit," involving organized crime. The conversation also touched on the importance of regulatory compliance and the evolving landscape of mortgage f...

Todd and Clinton are joined by Sandi Burns, Chief Credit Officer at Manulife Bank, to discuss her role in setting mortgage guidelines and managing the lending portfolio. She highlights Manulife's unique mortgage product, the Manulife One, which combines a checking account and mortgage, allowing customers to pay down their mortgage faster. Burns also notes the impact of economic uncertainty on cons...

Todd Veinotte and Clinton Wilkins discuss the impact of the federal election, economic factors, such as interest rates, inflation, and tariffs, and their effects on the housing market and construction materials.

Todd Veinotte and Clinton Wilkins discuss the current state of the mortgage market, highlighting the busy spring real estate season and the impact of interest rates. Clinton notes that interest rates are trending downward but are influenced by various factors, including federal government policies and inflation. He emphasizes the importance of building long-term relationships with clients and prov...

Todd Veinotte and Clinton Wilkins discuss the Halifax real estate market with special guest Keith Kenny, a realtor from Century 21 Optimum. They highlight Dartmouth downtown and Fairview as good investment opportunities, noting the city's urban development and infrastructure challenges. They discuss the impact of urban sprawl on municipal services and the importance of transit and road infrastruct...

Keith Kenny, a realtor from Century 21 Optimum with 13 years of experience, discussed the Halifax real estate market. He noted a slight increase in inventory, cautious optimism among buyers, and the impact of political and economic uncertainties. Buyers are now more cautious, with many offers being rejected. The average home price in HRM is around $633,000, with anything below $600,000 being highl...

Todd Veinotte and Clinton Wilkins discuss the mortgage industry and its challenges. Clinton talks about managing his 20,000+ clients, and the impact of external factors like elections and tariffs on client mental health. They explore the potential impact of political promises to reduce GST on new homes under $1.3 million, explaining how it could lower purchase prices. Clinton notes the need for mo...

Todd Veinotte and Clinton Wilkins discuss the role of a mortgage broker, emphasizing their ability to offer tailored mortgage advice and access to multiple lenders. Clinton highlights his extensive experience, having managed $2 billion in mortgages, and notes the shift from branch-based mortgages to broker-assisted ones, especially for first-time homebuyers. The two also talk about the importance...

Todd Veinotte and Clinton Wilkins discuss the benefits of home equity lines of credit (HELOCs) for renovations and investments. Clinton explains the role of CMHC insurance for those with less than 20% down payment, and the associated premiums. Clinton also discusses the advantages of energy-efficient upgrades, such as heat pumps and mini-splits, and the potential to refinance up to 80% of a home's...

Todd Veinotte and Clinton Wilkins discuss the upcoming spring real estate market, noting it as the busiest time of year due to improved weather and increased buyer activity. They also discuss the impact of lower interest rates on mortgage renewals, with buyers focusing more on monthly payments than rates. The two also talk about the popularity of home equity lines of credit (HELOCs) for home upgra...

Todd Veinotte and Clinton Wilkins discuss the potential economic impact of tariffs on the Canadian housing market, noting the uncertainty caused by political volatility in the U.S. They also discuss the upcoming Canadian federal leadership race, comparing the economic strategies proposed by Liberal frontrunner Mark Carney with those of Conservative Leader Pierre Poilievre. The conversation touches...

Clinton and Todd are joined again by special guest Leigh Davis, family lawyer from MDW Law.  This time, they're digging into the Matrimonial Property Act, it's provisions, and what kinds of relationship arrangements are covered under this legislation. 

Clinton and Todd are joined by Leigh Davis, family lawyer with MDW Law.  The three talk about what it means to practice financial literacy in a matrimonial setting, emphasizing the importance of having tough conversations before the wedding bells ring, and what services are available should matrimonial breakdown occurs. 

The news lately has been challenging to a lot of Canadians. With the threat of tariffs looming over the economy, what can borrowers expect as far as mortgage rates go?  In this episode, Clinton and Todd cut through the headlines and clickbait to give borrowers the advice they need to keep themselves and their assets safe over the next four years. 

It's February, which means it's time to talk about loving your home!  Clinton and Todd discuss the many aspects that go into loving your home, emphasizing that renovations should be enjoyed by the current owners, discouraging homeowners from renovating right before a sale. 

To wrap up their Merry Debtmas conversation, Todd and Clinton invite Tina Powell from MNP Limited to discuss the next steps borrowers need to take after filing for bankruptcy or a consumer proposal. The three explore the challenges and strategies for reestablishing credit and staying clear of additional trouble. They emphasize the importance of paying out discharges on time and the consequences of...