Cory Lewis Mortgage Advisor

🎉 Nominate an Amazing Dad & Win 🎉

We all know a dad, grandpa, stepdad, or father figure who deserves a little extra recognition this Father’s Day.

So we’re giving away the ultimate Dad Prize Pack:
❄️ Custom SHAKA 35 Kailani Cooler
🍻 Case of locally brewed Big Rock Beer
🏓 Pickleball Set for 2

To Enter:
✅ Follow our page
✅ Like this post
✅ Comment below telling us about the dad (or father figure) you’re nominating and why they deserve to win

➕ Share this post to your story and tag us for a bonus entry

Whether he’s the king of the BBQ, the family handyman, the coach, chauffeur, joke teller, or all of the above, we want to hear about and celebrate him.

📅 Entries close June 18 at 6:00 PM
🏆 Winner announced June 19

Must be 18+ to enter

Good luck, and Happy Father’s Day to all the amazing dads out there!

Think your 9–5 is the only income that counts for a mortgage? Think again 👀🏡

In Alberta, lenders may consider more than just your regular paycheck — as long as the income is consistent and well documented.

Here are some income sources that could help strengthen your mortgage approval:

✔️ Rental income from legal suites or investment properties
✔️ Child support or Canada Child Benefit (CCB) payments
✔️ Bonuses, tips, overtime & commissions with a reliable history
✔️ Self-employment or contract income (usually with 2 years of records)
✔️ Pensions, CPP, OAS, disability income, or foster care payments

Every mortgage application is different, and the right strategy can make a big difference. If you’re not sure what counts — or want to maximize your qualifying income — let’s chat 📩

Ever hear of a mortgage “Float Down”??

Some Canadian lenders offer features like:
• Rate Drop Protection
• Lowest Rate Guarantee
• Float-Down Options

Here’s the fun part👇

When you secure a rate during your pre-approval or rate hold period, your rate is protected if rates go up

BUT… if rates drop before your closing date, some lenders may let you snag the lower rate instead

Now here’s the catch:
Not every lender handles this the same way.

✔ Some apply lower rates automatically
✔ Some require you to ask
✔ Some don’t offer it at all

That’s why the details matter just as much as the rate itself.

In today’s market, things like:
• rate holds
• flexibility
• penalties
• float down options

…can make a BIG difference long term.

One of the benefits of working with a mortgage broker? We compare the fine print to help you explore all your options and find the best fit!

When you’re applying for a mortgage in Alberta, lenders pay close attention to something called your Loan-to-Value ratio (LTV). Sounds fancy… but it’s really just how much you’re borrowing compared to what your home is worth.

Imagine you buy a $500,000 home in Calgary, and put down $100,000. That means your mortgage is $400,000 and you have an 80% LTV!

So why does LTV matter?

✅ 20% or more down = you skip the default insurance
✅ Less than 20% down = insurance is required, which adds to the cost
✅ Lower LTV = lenders see less risk… and that can mean better rates for you

Now what does this mean for you?

As home values shift in Calgary, Edmonton, and beyond, your LTV can change too — even if you haven’t touched your mortgage. This can then impact your refinance or renewal options (in a positive OR negative way)

Imagine telling your parents that they can stop worrying about money, without selling the home they’ve lived in for 30 years... That’s what a reverse mortgage can do!

Tax-free cash. No monthly payments. Stay in the home you love.
For Canadians 55+, this could change everything!

Drop a 👍 if you know someone who should hear this.

Trying to buy your next home before your current one sells?
Ah yes… the real estate version of “trusting the timing will work itself out” 😅

That awkward gap can cost you the deal… unless you’ve got bridge financing in your back pocket.

Here’s the quick breakdown:
Bridge financing is a short-term loan that lets you tap into your current home’s equity to fund your next purchase — then it gets paid off once your sale closes.

The fine print (because there’s always some):
Most lenders want a firm (unconditional) sale on your current home, enough equity, and an approved new mortgage to make it work.

It’s usually in place for a few days to a few months, and yes — the interest rate is higher than your regular mortgage… but it can be the difference between securing the home you love or missing it entirely.

Think of it as your “don’t-lose-the-house” buffer.

Bottom line: timing in real estate isn’t always perfect… but your strategy can be.

If you’re buying and selling at the same time, let’s map out a plan that keeps everything moving (and your stress levels in check).

Appraisals… the ultimate buzzkill 🫠

You’ve found the one, offer accepted, champagne on ice… and then the appraisal shows up like “actually… let’s not get carried away.”

When a home appraises lower than the purchase price, it basically means the bank isn’t as emotionally attached as you are 😅 — and they’ll only lend based on that lower value.

Cue the options: renegotiate, cover the gap, or get creative with financing. Not exactly the plot twist anyone hopes for, but totally manageable with the right game plan.

Moral of the story? Fall in love with the home… just don’t forget the appraisal gets a vote too.

“Fixed Rates Aren’t Set by the Bank of Canada”
Most people think fixed mortgage rates follow the Bank of Canada. They don’t, at least not directly.

Fixed rates are mainly driven by Government of Canada bond yields, especially the 5-year bond. These yields move based on inflation, economic data, and market expectations, not just rate announcements.

That means fixed rates can rise or fall even when the Bank of Canada holds steady, and sometimes they move before any official decision is announced.

You might hear “rates didn’t change”… but fixed rates could still increase quietly.

Variable rates follow the Bank of Canada. Fixed rates follow the bond market, and the bond market moves first.

Timing your fixed rate isn’t about waiting for an announcement, it’s about understanding where the market is heading.

Feel free to book a call if you have any questions, I am always happy to chat.

🏠 Spoiler alert: You probably can’t afford that house you’ve been stalking on Realtor.ca.
…or maybe you can! That’s kind of the whole point. 😅

My Mortgage Toolbox App helps you stop guessing and tells you what you can afford — before you fall in love with a house that’s $200K out of your budget (we’ve all been there).

Here’s what the app does for you:
✅ Calculates your monthly mortgage payment instantly ✅ Lets you play with different rates, prices & down payments ✅ Pre-Qualifies ✅ Gives you real numbers — no fluff, no jargon Think of it as having a mortgage advisor in your back pocket. Except this one’s available at 11pm when you’re doom-scrolling listings. 😂

📲 Download it FREE using this link or click the link in my bio!
➡️ https://dlcapp.ca/app/cory-lewis/download

Questions? Drop them below or slide into my DMs — I actually respond. 👇