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Alec Schmidt

Alec Schmidt

Trainee in mortgage brokerage

Language(s):
French
English

aschmidt@planipret.com
(514) 262-0351

173A, boul. Saint-Jean-Baptiste , #4
Châteauguay, QC
J6K 3B4

Variable rate mortgages – a worthwhile option?

Greater risks yield greater results. The same applies when comes the time choose a mortgage. Choosing a variable rate mortgage allows you to benefit from a rate that is lower than what you would...

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Find out how to calculate the mortgage you can afford

First of all, it is important to differentiate between the maximum sum that you can afford and the maximum sum permitted by banking and government regulations. In reality, even if financial...

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Making sense of a pre-qualification and a pre-authorization

Thinking of buying a property? You must first find out how much you can actually afford to pay for this important purchase. Your financial institution (or lender) must take many factors into...

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Christmas was magic! Now, how do I pay the debt racked up on my credit cards?

It’s February, cold and dark, and here you are, faced with a pile of debts and credit card bills that reflect your over-spending on holiday celebrations! You’ve received one or more...

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Reversed mortgage: miracle product or danger?

The reversed mortgage is used primarily by retirees who own their principal residence and want to increase their retirement income, or simply cash out a portion of their property value for personal...

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Underused Housing Tax: a major change for homeowners living abroad

On January 1, 2022, the federal government introduced a new tax: the UHT, or Underused Housing Tax. The UHT is calculated by multiplying the assessed value of residential real property by the 1% UHT...

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A place for your kids to live through university: Better to buy or rent?

With the high cost of rent, especially in Quebec City and Montreal, more and more parents are buying condos for their kids to live in while they’re at school. After all, they could probably...

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Key factors for mortgage approval

Getting ready to start looking for a property? To do so, you will need a mortgage pre-approval. Although this is the maximum amount you could get, it does not guarantee that you will obtain a proper...

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The friendly guide of costs related to buying a property

For those looking to find out the costs related to buying a property, here is an example: Scenario: $275,000 home with a 5% down payment Standard rate: 95% financing: 4.00% 90%...

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Should you renegotiate your mortgage before maturity?

Marc and Isabelle have a $300,000 mortgage with the ABC Bank. They planned to pay off their house in 25 years. They took a loan at a fixed rate of 3.45% on a 5-year term. Two years before the date of...

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CHMC: WHAT IS IT, ANYWAY?

You want to buy a house, but don’t have the required 20% down payment. This is when you are offered the CMHC loan insurance. But what is the CMHC?  Why do we offer this insurance?  Is...

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Becoming a homeowner with an income property - something to think about!

Before buying a house with rent income, you must consider several key points. The Mortgage Planners team invites you to consider both sides of the coin. Advantages An extra, steady income The...

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Incentive programs and measures available for the purchase of a property

Are you considering buying a house or a condo? Are you wondering if there are incentive programs and measures available and tailored to your financial situation? The first thing to do is to reach out...

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Buying a home when you’re new to Canada: It’s easier than you think!

Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done. Common myths New...

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A home equity line of credit... Why not?

A home equity line of credit is very useful for real estate projects. Whether you want to renovate your home, buy a second home, or use it as a backup in case of unforeseen circumstances, your...

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Discover CMHC's "Homebuying Step by Step" Guide

Canada Mortgage and Housing Corporation is giving you a guide for everything you need to buy a home in Canada.This workbook provides worksheets, calculators and checklists for each step in the...

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Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the...

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Buying your first home? 5 mistakes to avoid

Looking for your first home? What exciting project! At Mortgage Planners, we have your best interests at heart. Therefore, we want to warn you against the most common mistakes made by our...

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The HBP – your ally when purchasing your first property

The down payment required to purchase your first property is often a daunting financial headache. But did you know that the Home Buyers' Plan (HBP) can be a feasible solution to obtain the required...

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5 tips for a greener home

5 tips for a greener home  Sustainable development, energy efficiency, environmental responsibility... It’s not a fad, it’s a lifestyle. According to a 2017 study by Sagen, more...

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Buying a new home? You may be eligible for a GST and QST rebate!

Buying a new home can be an exciting project, but it comes with its share of government fees. Traditionally, when you buy a new home, you must pay the Goods and Services Tax (GST) and the Quebec...

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Can I optimize my mortgage renewal ?

When the time comes to renew your mortgage, are you the type to accept the first offer or to look around to get the best possible product? Surprisingly, barely half of Quebecers try to get a better...

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After a year of global pandemic, it's time to take a look at your financial situation

At this time last year, we were quietly going about our business. Life was happening at full speed until one day the world plunged into the unknown.This global pandemic has challenged many of our...

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Everything about the house is perfect except for the kitchen. What are my options?

Although the kitchen, the bathrooms as well as the floors are rarely to our taste when we visit houses for sale, is this a reason to reject a house that has many other assets? The CMHC...

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Buying a house owned by your parents - the equity gift

Seven years ago, Emrick and the mother of his children separated. At the time of the break-up, an important decision was made: Emrick would become the owner of the family home. To do so, he asked his...

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How to purchase an income property when you renew your mortgage

For years, you have been thinking about investing in an income property. Why not take advantage of your mortgage renewal to refinance your property and to provide you with the 15% or 20% down payment...

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Can I use the increase in value of my home to maximize my RRSP?

Josianne is in her early forties and a single mother of two beautiful daughters of 9 and 12-years old. Recently, she realized that she had more than $100,000 in unused RRSP contribution room. Based...

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The Bank of Canada’s policy interest rate has changed; how does this affect my variable rate mortgage?

Whenever the Bank of Canada changes its policy rate, it is important to understand that mortgage lenders do not automatically change their prime rate. In fact, a bank’s prime rate may not even...

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RATES OF

June 23 2022

TERMS BANKS MORTGAGE PLANNERS
1 Year Fixed 5.24% 3.94%
2 Years Fixed 5.64% 4.44%
3 Years Fixed 6.84% 4.59%
4 Years Fixed 6.84% 4.69%
5 Years Fixed 6.84% 4.89%
5 years Variable 3.85% 2.80%
7 Years Fixed 6.39% 5.14%
10 Years Fixed 6.60% 5.34%
HELOC 4.70% 4.20%

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