New Mortgage Rules and How They Affect You

As you may now be aware the mortgage rules are changing effective March 18th, 2011. The most notable change is the reduction of the amortization period from 35 years to 30 years. This follows a previous amortization reduction from 40 years to 35 years.

Now…how does this affect you if you already own a home?

If you currently have an amortization in excess of 30 years this can greatly affect you at the time of your mortgage renewal. As you are also probably aware interest rates will experience some increases over the next couple of years. The question isn’t  IF but by how much and how soon. Both of these situations can limit the options that you have available today and tomorrow. Your mortgage is probably the largest single debt you have and properly managing and understanding your options is critical especially in this uncertain environment.

Let me show you the options that are available to you today. Being informed of your choices is the best defense against any uncertainty.

Phone: 416 909 5044       E-mail:


About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
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