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Mitch Thibodeau - Mortgage Broker
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Mitch Thibodeau - Mortgage Broker's posts

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When buying a home, the question shouldn't always be "What do I qualify for?" but rather "How much can I comfortably afford?". By approaching your mortgage this way, you can be confident that a small rate/payment increase in the future won't drastically affect your finances.

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I'm noticing a lot of sold signs out there and hearing of many multiple offer situations. The Kingston market is pretty hot right now.

If you're a buyer, it's now more important than ever to have a realtor on your side that can help you find out about listings as soon as they hit the market. With many homes, by the time you see it online, there may already be an offer in place.

The housing market in Kingston appears to be heating up. According to the Kingston and Area Real Estate Association, more homes traded hands in March 2017 than any other month going as far back as 2004.

The average sale price in Kingston in March was $337,460, up 10% from March 2016.

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The new "stress test" is definitely making a significant impact on how much homebuyers can qualify for, particularly first time homebuyers.

Personally, I have had a number of clients looking to purchase around the $250K mark but can now only qualify for $200K. If you'd like to see how the new "stress test" will impact your next mortgage application, please feel free to contact me.

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If you or someone you know were a first-time homebuyer in 2016, there is an important tax credit that you/they should be aware of when filing income taxes this year.

As a first-time homebuyer in 2016, you are eligible to claim the Homebuyers' Tax Credit. This will create a credit of up to $750.

For more information, please go to www.cra.gc.ca/hbtc or feel free to contact me at anytime.

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While I understand any business' desire to increase sales and meet goals, as soon the client's best interest is not a priority there is something wrong with your business model.


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The City of Kingston announced last week that applications for the Home Ownership program will be available April 3rd. Applications must be submitted by April 21st. If you would like more information on this program, please feel free to contact me.


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Want a better understanding of the mortgage process from start to finish? Please click the link below for some helpful information.

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Please check out my latest blog summarizing all of the recent mortgage changes over the past few months.
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