Sophia  Keshavarz

Sophia Keshavarz

Real Estate Broker of Record / Founder / President


Email Me
Hire a top class real estate agent who will invest in your future

Considerations for your first mortgage

July 30

by Alyssa Richard

We all have financial goals. You may want to get out of debt, save more money or even buy your first home. If you’re thinking about the latter, a plethora of new financial tasks awaits you. You’ll need to get your down payment ready, hire a home inspector and a real estate lawyer, and, of course, find the home you want to buy. But before you can do any of that, you need to get pre-approved for a mortgage.


Once you’ve been pre-approved, remember that this is the absolute maximum amount a bank or mortgage broker would be willing to give you – and the mortgage payment at that top price is often outside of people’s comfort zones, when it comes to their personal budgets. To ensure you’re not strapped for cash and become house poor, try to buy something at a lower price point. Your budget will especially thank you when – not if, when – interest rates go up.


Economists have said an interest rate hike was on the horizon for years, but indications are that it could happen in 2015 (despite the recent drop). Since our economy follows the U.S.’s, the Bank of Canada will watch what the Federal Reserve does and go from there. It’s predicted that our prime rate could go up by as much as 1.25 to 1.50 per cent, though, which would affect anyone who had a loan attached to prime (variable mortgage, bank loan or line of credit). If you’re thinking of taking advantage of a low variable mortgage rate this year, you should first run the numbers to see if you could afford this potential increase.


According to the Canadian Real Estate Association, the average home price in Canada is slightly more than $413,000. If we plug that number into a mortgage calculator, put down 20 per cent and choose the current best five-year variable rate in Toronto (2.09 per cent), your monthly mortgage payment would be $1,413. Now, if prime went up by 1.50 per cent, so would your mortgage rate. If yours went up from 2.09 per cent to 3.59 per cent, your monthly mortgage payment would go up to $1,665 – that’s $252 per month or $3,024 per year extra that you’d need to find in your budget.


Imagine how difficult that would be to come up with, if you’d already purchased something at the top of your max budget. And fixed rate mortgage holders won’t be immune to the interest rate increase, either – those will likely go up, too, but you’d be protected from that until your mortgage came up for renewal. Still, I wouldn’t be surprised if we saw more people go fixed this year, in light of this potential interest rate increase. Even if it weren’t on the horizon, it’s always best to stress test a mortgage before you buy. A good rule of thumb: if you can’t afford a two-per-cent interest rate hike, you may want to look at a home within a more appropriate price range.



Alyssa Richard is the founder and CEO of, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.


multiple learning

Provides multiple learning environment of International standard with holistic system of education at an affordable cost for the successful life of young generation.

best paramedical college north india

best B.Ed. college in dehradun

top agriculture College in north india

Our approach

Our approach brings together best-in-class virtualized compute, storage, and networking infrastructure.

IT services & support company in uae

network security partner in uae

Virtualization Partner in uae

mimecast partner in uae

end point security in uae

the world of gaming

Welcome to the world of gaming, where life is fast paced and interesting. There is always an adventure waiting for you online.

buy csgo accounts

csgo ranks

The goal of the society is

The goal of the society is to create professionally well skilled students To achieve the said goal, arrangements have been made with the pioneers and front runners both in India and abroad.
best cbse school in dehradun
top cbse school in dehradun
The Health system is created in a proficient way of expanding the network in the multispecialty services. With the ever-growing population, the hospital has announced many ambitious plans that have ultimately lead to the excellence.
multispeciality hospital in hisar
test tube baby hospital in hisar

its quality

Apple products are revered for its quality, precision and great design. SRSG started its operations as Apple technology partners in the year 1997.
system integration service providers in india
ipad air reseller in delhi
ipad service center in bhubaneswar
ipad service center in delhi
imac reseller mumbai
macbook pro reseller in delhi

Moonlight Films and Theatre

Moonlight Films and Theatre Studio operates under the Moonlight Films and Theatre Society , a non-profit association whose goals are to spread knowledge of and interest in theatrical and media arts through education.
Acting school in delhi

Our academic pursuits, along

Our academic pursuits, along with a range of extracurricular activities, help in honing a child's skills and ensuring that he/she grows to be a mature and responsible citizen.

top school in greater noida
best Secure school in greater noida


Engineering as a subject combines mathematics, logic and science to find solutions to our daily life problems. Over the last few decades, engineering as a profession has seen vast expansion.

top engineering college in chandigarh

engineering college in punjab

Civil Engineering College in Chandigarh

Cgc admission

top agriculture college in Punjab

Omaha Web Design Omaha SEO

Omaha Web Design Omaha SEO IT Outsourcing In Omaha Educational Institutions Insurance Retail Banking Analytics Non Profit Analytics Digital Agency Marketing Products Analytics VBA Excel Fraud Analytics Marketing Analytics Model Validation IT Outsourcing Web Designing Mobile App Development IT Services Digital Marketing Big Data Data Science Search Engine Optimization VBA Development ALI Law Enforcement Adaptive Analytics Resourcing Access VBA Experts Graphic Designing Cloud ERP Predictive Analytics Perks Using Natural Language Processing NLP Machine Learning Dashboards Data Solutions Marketing Research Social Media Marketing Content Writing Software Company in Malaysia Customer Services in Malaysia Data & Analytic Services CRM Software in Malaysia Business Consultancy in Malaysia IT company in Mid Valley Malaysia Software Development in Malaysia Loyalty Management in Malaysia Telemarketing Company in Malaysia Data Analytic Company in Malaysia Call Center Company in Malaysia Mobile Apps Company in Malaysia SEO Company in Malaysia Lead Generation Company in Malaysia ERP Company in Malaysia IT company in Malaysia Web Design Company In Malaysia Roof Waterproofing Watertank Waterproofing/ Concrete Waterproofing Bathroom Waterproofing Foundation waterproofing Walls Waterproofing Gypsum Board Car Compound Polish Roof Heat Proofing Marble Suppliers In Pakistan Cement Suppliers In Pakistan Brick Suppliers In Pakistan Latest Urdu News Sports News In Urdu Health News In Urdu Science News In Urdu Business News In Urdu Latest Urdu Columns Showbiz News In Urdu International News In Urdu High Quality Backlinks Services Beauty Tips Skin Tips Beauty Tips For Face Natural Beauty Tips Beauty Tips And Tricks Male Enhancement Supplements Weight Loss Supplements Skin Care Products Hair Care Products Detox And Cleanse Reviews Alpha Prime Elite Garcinia Pure Pro Weight Loss That Works Pure Asian Garcinia Buy Garcinia Cambogia Hair Loss Treatment For Men Muscle Building Foods Skin Rejuvenator Anti Aging Device Garcinia Pure Pro Free Wazaif Free Istikhara Islamic Waziaf Khawab Ki Tabeer Rohani Ilaj Taweezat Web Development Company Web Development Agency Website Development Services Shopify Development Shopify Development Services Shopify Development Company Volusion Development Volusion Development Services Volusion Customization Services Volusion Development Company Magento Development Magento Development Services Magento Development Company BigCommerce Development BigCommerce Development Services BigCommerce Development Company Wordpress Development Wordpress Development Services Wordpress Development Company Urdu Columns Newspaper Columns World Columns Javed Chaudhry Columns Hassan Nisar Columns Orya Maqbool Jan Columns Rauf Klasra Columns Nazeer Naji Columns Ayaz Amir Columns Haroon Rasheed Columns Saadullah Jan Barq Columns

Mortgages come in many

Mortgages come in many forms. With a fixed-rate mortgage, the borrower pays the same interest rate for the life of the loan. Her monthly principal and Buy an Essay Online interest payment never change from the first mortgage payment to the last.

Considerations for your first mortgage

Mortgages come in many structures. With a settled rate mortgage, the borrower pays a similar financing cost for the life of the loan. Her month to month essential and AssignmentCorp interest payment never show signs of change from the primary mortgage payment to the last. Most settled rate mortgages have a 15-or 30-year term.

good one

Maintain strolling a blog. splendid blog access. I need to say that is one of the remarkable posts that i have perused in all my life. the whole thing right here is certainly high-quality. I could not have asked a hugely improved submit than this. . i am able to bookmark your net site and advocate to all my pals.
biology assignment writing help

I hope every article writer

I hope every article writer can understood and learn about blog provided thepensters writers reviews. Every update is important to understood and learn about mortgage loans. So they will get more knowledge on every topic.


Mortgage borrowers can be people selling their home or they can do my assignment for me be organizations selling business property (for instance, their own particular business premises, private property let to tenants or an investment portfolio).

Considerations for your first mortgage

This article you can use to understood the facts for your first mortgage services. Then every rushessay writing services writer happy to understood the facts for writing more updates. So many users are trying to learn the interesting facts on home and real estate.

Have Questions?

By submitting this form, you are providing express consent to receive commercial electronic messages from You may unsubscribe at any time.