Scott Tremblay's Blog

The latest mortgage news, tips, and useful information from the desk of Scott Tremblay

First-Time Homebuyers: How to Use RRSPs for a Down Payment

By Scott Tremblay on February 8, 2023

First-time homebuyers in Canada have a unique opportunity to use their Registered Retirement Savings Plan (RRSP) towards their down payment for a first mortgage. Here's how it works.

Just moved into your new place? Get our Address Change Checklist!

By brynisask on January 24, 2023

We know there's a lot to think about after you've moved in and are getting comfortable in your new space. Here's a few tips to help you get settled in

How to Leverage Your Home Equity

By Scott Tremblay on December 16, 2022

If you own a house, you probably have some equity in it. This means that you have more value in your home than you owe on your mortgage. In fact, you might even have enough equity to buy another property or pay off outstanding debts and save on the interest.

How Much Should I Be Saving for a Down Payment?

By Scott Tremblay on November 17, 2022

You may be wondering, how much should I be saving for a down payment? The answer depends on a number of factors such as home value, mortgage type and lender.

Is An Investment Property Right For You?

By Scott Tremblay on October 4, 2022

If this is something you’re considering, what are your options? How do you know if you are in the right place to invest your money? What is involved with having real estate investments? Let’s find out!

Why You Should Insure Your Mortgage

By Scott Tremblay on September 2, 2022

With mortgages being the highest in history in Canada, it is even more important to cover yourself and your home with mortgage insurance for all of life’s unknowns.

Renovation Mortgage Financing: The Basics

By Scott Tremblay on August 22, 2022

The price of a home renovation can make your head spin. Fortunately there’s something to consider that may help — renovation mortgage financing.

How to Pay Off Your Mortgage Faster

By Scott Tremblay on July 27, 2022

If you’re staring at the amount you have left to pay off your mortgage with wide eyes, don’t worry–we’ve all been there. Here are five ways that you can pay your mortgage off faster.

How to pick the right mortgage term

By Scott Tremblay on June 10, 2022

When it comes time to buy a house, there are a lot of questions that we start to ask. One of the first, when you begin negotiating your mortgage, is about the term. What is a mortgage term? Why is it important? And, more important still, how do you pick the right one?

What is the difference between a Buyers & Sellers Market?

By Scott Tremblay on April 20, 2022

Supply and Demand is the name of the game when it comes to determining the state of the housing market, which is how we end up with the two general categories: a buyer’s market and a seller’s market. What do these mean, though? And what factors can you pay attention to to determine the best way to work the market?

Is it Worth Refinancing Your Mortgage

By Scott Tremblay on February 16, 2022

Since there is so much talk about the possibility of rates changing lately, it seems like the perfect time to talk about mortgage refinancing in Canada. First, let’s discuss what refinancing your mortgage actually means.

What Mortgage Rate Changes Can Mean For You

By Scott Tremblay on January 14, 2022

When rates start to move up, the obvious cost of borrowing increases as well. Depending on what credit has been extended, an increased rate will likely lead to slightly higher repayment costs.

What Mortgage Programs and Grants Are Available in Canada?

By Scott Tremblay on December 15, 2021

Looking at buying a new home, or your first home? There may be some programs, grants or incentives you should know about. Here are a few currently available options and what they might mean for you. First-Time Home Buyers Incentive This is an incentive program specifically for first-time home buyers who have the minimum down […]

The Importance Of a Pre-Approved Mortgage

By Scott Tremblay on November 19, 2021

If you are in the market to buy a house, the first step you should consider, before walking through any homes, is to speak with a mortgage broker about a pre-approval. This is not a commitment to a lender, mortgage broker or realtor, but a step that allows you to understand what you should be […]

How Much Will it Really Cost to Buy a House?

By Scott Tremblay on August 27, 2021

Once you have figured out the home price range you can afford and the type of mortgage you qualify for, you will need to calculate the associated costs of the transaction to make sure you are financially ready. Here is a list of some UPFRONT COSTS to plan for: Mortgage Loan Insurance Premium. Mortgage Loan […]

New Mortgage Rules - What Changes Have Been Made?

By Scott Tremblay on June 25, 2021

What is a stress test? Will this affect my mortgage? These are probably some of the questions you might have right now! The mortgage stress test requires lenders to check that you can still make their payment at a rate that's higher than they actually pay - HUH? Here's how it works. ... This means […]

We won an award! Let's learn a bit more about CENTUM

By iSask Mortgage Brokers on February 13, 2020

One of our collective passion points at iSask Mortgage Brokers is to make sure that we stay on the top of our game and ahead of the curve when working to find the ideal mortgage rate or mortgage refinancing solution for our clients. We want to take advantage of the best tools and services at our fingertips, and it's always reassuring to get positive feedback about when we're putting those utilities to good use to do the best job possible.

Let's Explore How Refinancing Your Mortgage Can Save You Money

By Scott Tremblay on January 20, 2020

By now you have no doubt heard about Canada’s new First Time Home Buyers Incentive. But what is it? How does it work? What are the pros and cons? And what’s the deal with the “shared equity” system?

5 Ways to Improve Your Credit Score

By Scott Tremblay on January 6, 2020

By now you have no doubt heard about Canada’s new First Time Home Buyers Incentive. But what is it? How does it work? What are the pros and cons? And what’s the deal with the “shared equity” system?

Pre-planning, rate locking and leveraging the knowledge of an industry expert

By Scott Tremblay on December 10, 2019

By now you have no doubt heard about Canada’s new First Time Home Buyers Incentive. But what is it? How does it work? What are the pros and cons? And what’s the deal with the “shared equity” system?

Understanding & Increasing your Credit Score in Saskatoon

By Scott Tremblay on October 30, 2019

Almost everyone uses credit and having a good credit score is crucial to save money, increase the likelihood to be approved for loans and is key to financial success. Below, we go through what credit is and how your actions affect your credit score. With a knowledge on how to impact your credit score, you can ensure that you have a healthy credit score.

A New Home And A New Car In The Driveway? Fantasy or a Reality?

By Scott Tremblay on September 27, 2019

By now you have no doubt heard about Canada’s new First Time Home Buyers Incentive. But what is it? How does it work? What are the pros and cons? And what’s the deal with the “shared equity” system?

The First-Time Home Buyers Incentive: Is It Right For You?

By Scott Tremblay on September 27, 2019

By now you have no doubt heard about Canada’s new First Time Home Buyers Incentive. But what is it? How does it work? What are the pros and cons? And what’s the deal with the “shared equity” system?

To Rent or Buy: A Simple Comparison for First Time Home Buyers in Saskatoon

By Scott Tremblay on April 17, 2019

I want to show you a simple comparison on money spent on rent vs. money spent on buying a home. The number’s I’ve used below are just estimates, but they will help illustrate an important point that most first time home buyers need to consider when looking for their first home in Saskatoon. Let’s paint […]

Refinancing Your Mortgage in Saskatoon? We Can Help

By iSask Mortgage Brokers on February 20, 2019

When the time comes for your Saskatoon Mortgage Refinance, iSask Mortgage Brokers walk you through the process and find you the best deal available.

Top 5 Tips on Your Saskatoon Mortgage Renewal

By iSask Mortgage Brokers on February 15, 2019

With the help of iSask Mortgage Brokers, your Saskatoon Mortgage Renewal can be an opporuntity to save time and save money. Here are our top 5 reasons why.

Interest Rates On The Rise? What Saskatoon home owners need to know

By Scott Tremblay on October 20, 2018

There has been speculation that Canadian interest rates are not done rising yet – and some say they will keep rising until 2020. This means borrowers will qualify for less when they’re looking to purchase, and current home owners can expect mortgage payments to climb at the time of their mortgage renewal, or if they are in a variable rate mortgage.

Cut the risk - What will interest rates do next

By Scott Tremblay on April 26, 2018

The general consensus is that we will see a rising interest rate trend in 2018. The economy in the early part of 2018 was not as strong as expected, but most economists feel it will improve throughout 2018. The question seems to be not so much will the interest rates rise, but moreso, how much will they […]

Prime Rate Unchanged. For Now

By Scott Tremblay on April 18, 2018

It seems variable mortgage rates will be standing pat, for now, as the Bank of Canada announced today it will be keeping the target for the overnight rate as-is, at 1.25%. How this relates to your variable rate mortgage or line of credit is a consumer prime lending rate of 3.45% for most banks. The […]

Housing demand in Saskatoon should increase

By Scott Tremblay on January 8, 2018

There are some good economic signs for Saskatchewan in 2018 & 2019. Many economists expect Saskatchewan to lead the country in economic growth. Potash has seen strong demand, increasing throughout 2017 and into 2018. This has led to increasing sales and profits. This is a good sign going forward. Agriculture has been a strong point […]

Interest Rates Scaring you?

By Scott Tremblay on August 10, 2017

Interest rates scaring you? It is true that mortgage interest rates have come up over the last month. Keep in mind that this is a very small increase, and we’re still in an ultra-low rate environment. We’ve also seen increases before only to see them decrease again. But rates have risen, and we may see […]

Graduate Retention Program - First Home Plan

By Scott Tremblay on March 10, 2017

First Home Plan - Graduate Retention Program Using the post secondary graduate tax rebate in advance for the use toward down payment. The best down payment program to hit Saskatchewan in a while. Recent post secondary graduates will be thinking about the Graduate Retention Program at this time of year as they file their income […]

Own vs. Rent

By Scott Tremblay on November 10, 2016

A friend asked me the other day to give my perspective on renting vs. owning. I thought about this, and came up with many great advantages to own and a few good reasons to rent. Then I got to thinking. Who cares what I think. Everyone has their own unique plans and situation. This is […]

Canada Child Benefit to Counter new Mortgage Stress Test

By Scott Tremblay on October 26, 2016

The changes announced by the Finance Minister were put in place to ensure that home buyers can afford to hang onto their home if interest rates are higher when their mortgage matures down the road. While I feel they went a little to far on this test, it is not entirely a bad idea. Regardless […]

Child Tax Benefit - the Mortgage Broker Advantage

By Scott Tremblay on April 1, 2016

For many families, Child Tax Benefits are a very important part of monthly income that often allows one parent to stay home or work less hours. It is also a great benefit for a single parent as well. But in both cases, a lower employment income can create an issue when they are looking to […]

The Value of Having Options

By Scott Tremblay on June 10, 0201

With banks tightening up their lending guidelines, a client who gets a decline from their bank is given a very definite decline. This can be devastating. Many people don't know that they may be approved at another lender, or are frustrated and do not want to go through the process again. If I run into […]

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