Client Comments
Thank you so very much for putting so much effort and time for helping us.

-DARIO & MORCIA S., OAKVILLE

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We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.

-TOM & SHAUNA D., TORONTO

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Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino

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Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.

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Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!

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We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

A Canadian Insured Mortgage Verus A Sub Prime Mortgage

So what is the difference between an insured mortgage an a sub prime mortgage?contact-joe-button4

Depending on who you’re talking to, the answer is typically nothing.

By definition, an insured mortgage provides protection to a mortgage lender to extend mortgage financing to individuals carrying a level of risk that would not allow them to secure a mortgage without insurance.

Based on the above, an insured mortgage is also a sub prime mortgage.

So, yes we do have an active sub prime market in Canada administered by the Canada Mortgage and Housing Corporation (CMHC).  Insured mortgages allow many Canadians to own a home much faster, which stimulates both the building and real estate markets.

And despite what you may have been hearing about the sub prime market collapse south of the border, the Canadian insured mortgage market continues to operate in Canada and is expected to do so into the foreseeable.

Because of the shear size of the market, it needs to be watched closely to make sure the portfolio stays healthy and program adjustments take place if the overall risk level becomes unhealthy for the country as a whole.

And while insured mortgage programs have their supporters and detractors related to their overall impact and risk to the overall economy, they do exist and provide tremendous value to the individual consumer who would not be able to own a home without an insured loan.

Because they are sub prime in nature, there is a higher rate of default, and that default risk is basically carried by the Canadian taxpayer to a large extent.  This is the trade off that goes with greater access to credit.  Many would argue that the CMHC programs have been a resounding success, and, properly managed, should continue to provide the same opportunities for home ownership to all Canadians.

The key to keeping what many would consider a highly valuable tool viable for future generations is strong economic policy and whatever program adjustments may be required from time to time to avoid the slippery slope our neighbors to the south got on and are still trying to recover from.

If you’re interested in learning more about insured mortgages, I suggest you give me a call and I’ll do my best to get all your questions answered.

Click Here To Speak Directly With Mortgage Broker Joe Walsh.

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