Breaking your mortgage before the term is up can be necessary—whether you’re selling, refinancing, or needing financial flexibility. But it’s a decision that can come with costly consequences if you’re not careful. Here are five common mistakes to avoid: 1. Not Understanding the Penalties Early mortgage breakage often triggers a prepayment penalty. Many homeowners don’t…
If you’re a homeowner or planning to become one, changes to the Bank of Canada (BoC) rate can have a direct impact on your mortgage—and your monthly budget. Understanding how it works helps you make smarter decisions, especially in today’s shifting rate environment. What Is the Bank of Canada Rate? The BoC sets the overnight…
With so many fabulous places in the world to visit, or grandchildren on the horizon, more Okanagan seniors are turning to reverse mortgages to help with the cash flow without selling their home. But is it the right choice for you or your loved ones? Here’s what you need to know in 2025. What Is…
Feeling Stuck in Today’s Housing Market? Wanting to get out of renting in Kelowna or Vernon? You’re not alone in wondering if this is the right time to buy your first home. Between sky-high home prices, interest rates, and tight mortgage rules, many first-time buyers are wondering if homeownership is even possible. What’s Making It…
Thinking about buying a home over $1 million in British Columbia? You may need a jumbo mortgage—and that’s where Rampone-Marsh Mortgages can help. A jumbo loan is used when the home purchase price exceeds the amount eligible for CMHC-insured financing. In Canada, that limit is currently $1 million. When Do You Need a Jumbo Mortgage?…
Are you ready to buy your next home but haven’t sold your current one yet? Bridge financing can help. At Rampone-Marsh Mortgages, we make bridge loans simple, fast, and stress-free—so you can move forward with confidence. What Is Bridge Financing? Bridge financing is a short-term loan that helps you “bridge the gap” between selling your…
If you have a lot of equity and don’t have a lot of debt, then qualifying may not be an issue; subject to the usual tests around creditworthiness, income stability and earnings. If your situation is not ideal, it doesn’t mean you can’t refinance. Fortunately, as mortgage professionals, we have access to a variety of…
In 2025, many Canadian homeowners are looking for ways to reduce the income tax they owe and have more money for day-to-day expenses — the Smith Manoeuvre remains one of the most powerful strategies available. At Rampone-Marsh Mortgages, we help Kelowna homeowners understand and implement this approach to potentially turn their mortgage into a long-term…
At Rampone-Marsh Mortgages, we specialize in helping people from all walks of life achieve their dreams of property ownership — including newcomers to Canada. Whether you’ve settled in BC with a new job, and are building a life for your family or investing in property, buying a home or a business is a major milestone….
Your property has untapped potential—and with Kelowna’s updated 2025 bylaws, now is a great time to turn that potential into profit. At Rampone-Marsh Mortgages, we help homeowners finance strategic upgrades that not only add living space but also build lasting equity tailored to your long-term goals. Need a Mortgage For A Legal Secondary Suite or…
When it comes to setting up a mortgage, Canadian homeowners always ask us: Should I go fixed or variable?
If your mortgage is up for renewal in 2025, you’re not alone—and you’re likely feeling the pressure. With higher interest rates and rising living costs, many homeowners in Kelowna and across the Okanagan are wondering how to manage increasing monthly payments. At Rampone-Marsh Mortgages, we’re here to guide you through this financial transition with smart…
