What Will You Accomplish in 2016?

Katherine Martin • January 4, 2016

Goodbye 2015. Hello 2016! The start of a new calendar year is an excellent time to reflect on the year that was, and to set goals for the year ahead. Have you spent any time sorting what you would like to accomplish in 2016?

On most “New Year Resolutions Lists” you will find the usual suspects: to eat better, exercise more, take up a hobby, spend more time with family, or be more financially responsible. And although all of these resolutions are a good idea, the problem is they lack real substance, they aren’t concrete, they are more like a general direction without a final destination. In order to make a real change, you are going to want to figure out exactly what you want and figure out how you are going to get there.

In a couple of year end articles published on Spring the blog (a Canadian personal finance blog)  “What I want for you in 2015” and “What I want for you in 2016”  author and financial planner Sandi Martin outlines “Clarity” and “Ownership” as what will affect real change. Finding clarity, or the understanding of where you are now (and where you have come from) is the first step in making plans that will get you to where you want to go. While ownership is the engagement, the effort, the commitment to getting you there.

So what are your financial goals in 2016 as they relate to where you live? Maybe you are looking to buy your first home, maybe your family is growing and you need more living space, maybe it’s time to get serious about paying off your mortgage, or maybe you have an empty nest and it’s time to downsize. Regardless of where you find yourself along this timeline, the best thing to do right now is to find clarity. And I can help you with that.

As an independent mortgage professional, I work with multiple lending institutions and offer a wide range of mortgage products. I can help you look at all the options you have available to you, options you might not even know are available to you. If the goal is to find clarity in order to be able to take ownership, you don’t have to go it alone.

If you are in a place where you want 2016 to be better than 2015, if you are serious about taking ownership of your finances in 2016, consider this my invitation to reach out and contact me about working together to build a plan that will help you accomplish your mortgage and housing goals!

Here’s to a prosperous 2016! All the best in the year ahead!

Katherine Martin


Origin Mortgages

Phone: 1-604-454-0843
Email: kmartin@planmymortgage.ca
Fax: 1-604-454-0842


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When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.

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