Unit #2A - 2495 Parkedale Avenue

Brockville, Ontario

K6V 3H2

Office: (613) 345-3664

Toll Free:  1 (866) 345-3664

Fax:  (613) 345-4253

Email:  jonlabrash@royallepage.ca

Providing you with outstanding Real Estate services in the Brockville and Surrounding Areas.

Sales Representative

Jon LaBrash



The Minister of Finance announced on Monday new Canadian mortgage rules effective October 17, 2016.  The new rules will impact high ratio buyers - those with less that 20% down payment.  Other rule changes are expected to follow so stay tuned for details as they unfold.  The important thing to remember is that this is not the end of the world!  Rather, it is the time when you really need the voice of reason from an experienced Dominion Lending mortgage professional

Currently a home buyer with less than 20% (high ratio) requires mortgage insurance through CMHC or one of the private insurers.  The financing rules for this purchase differ from those buying a home with 20% or more down payment.  However, both types of buyers have one rule in common - to access short term fixed rates (1-4 years) or a variable rate mortgage they must qualify at the benchmark rate (currently 4.64%).  They don't pay that rate, but it is a metric used to qualify for access to the variable or short term rate products.

Effective October 17th all high ratio buyers will have to qualify at the benchmark rate for all terms.

For example a home buyer currently qualified to purchase with 10% down for a mortgage of $527,000.  After October 17th, this home buyer would qualify for a $420,000 mortgage.  This equates to a 20% drop in buying power.  (All things being equal in terms of property taxes, income, debts, etc.)

Buyers in this situation would have the option to make up the shortfall with more money down or add another person to the mortgage to help qualify or purchase a lower priced property.  For detached homes with a suite the use of rental income could help the buyer make up some or all of that difference in qualifying. 

Any buyers with an accepted offer in place will have till October 16th to have a firm financing approval in place.  Buyers who secure an accepted offer who do not have a firm agreement from their lender (and the respective mortgage insurer) in place by October 16th will be the subject to the rule change October 17th.

Read more here...


Recent Successes

Whether you're a first time home buyer, or a seasoned real estate investor, I'm here to help you every step of the way. 


I've been selling Brockville & the 1000 Islands area since 2009, so I have the experience and I mean it when I say I'm here to help you. 

The selling of a person's home is a task I take very seriously. As a member of the local, provincial and national real estate boards, I am held to the highest accountability through a code of ethics set out by RECO, the Real Estate Council of Ontario. Please consider my services when selling your home in the Brockville, Prescott and surrounding areas. I can help you get the most for your property and help prepare the listing for the market. For a comprehensive, no cost Cost Market Analysis of your home and to get the listing process underway, contact me today. I look forward to working with you and as always, I appreciate your business!