Have a Question About Mortgages? Ask Steph!
604-575-2710
The Advantage of Choice
Hi, I’m Stephanie Barritt, a mortgage professional serving clients in the lower mainland from my office in Surrey BC. Choosing the right mortgage is a big decision. Finding the right mortgage is a powerful tool to help you achieve your financial goals, while getting stuck with a bad one has the potential to cost you a lot of money.
So with so many mortgage choices and ongoing decisions to make, how do you know you are making the right choice for you? You need an independent mortgage broker to help guide you! A banker works for the bank, paid by the bank to make money for the bank. As a mortgage broker I can represent you to several different lending institutions who offer a wide choice of products.
The combination of unbiased advice, access to more products, and the fact that my business that is built on customer service and client education means that when you work with me, you can be assured that your needs are being put first. And in most cases, my services come at no cost to you! Regardless of where you are in the mortgage process,
I can help! Ask me about mortgages anytime!
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As a trusted mortgage provider, I can help you with these services.
Testimonials
HIGHLY RECOMMENDED
Stephanie came recommended to me and she did a great job with our mortgage. She’s the kind of person that really fights to find the best product to suit our needs and she puts long-term service over any other considerations. I highly recommend her for any mortgage or other real estate finance needs.
Stephanie came recommended to me and she did a great job with our mortgage. She’s the kind of person that really fights to find the best product to suit our needs and she puts long-term service over any other considerations. I highly recommend her for any mortgage or other real estate finance needs.
Peter Crisp
FAST AND PROFESSIONAL
I use Stephanie Barritt almost exclusively for my real estate clients because she is fast, professional, and if there’s any difficulty, she can handle it! I wouldn’t hesitate to recommend her!
I use Stephanie Barritt almost exclusively for my real estate clients because she is fast, professional, and if there’s any difficulty, she can handle it! I wouldn’t hesitate to recommend her!
Dianne Moscrip, ReMax Advantage Realty
EXCEPTIONAL PRODUCT KNOWLEDGE
Stephanie has done such a great job for many of my clients. On more than one occasion, she has gotten my clients great mortgages when other brokers could not find a way. Her exceptional product knowledge is second to none in my opinion and I look forward to sending her more business, as I know that she can do for my clients, what no one else can.
Stephanie has done such a great job for many of my clients. On more than one occasion, she has gotten my clients great mortgages when other brokers could not find a way. Her exceptional product knowledge is second to none in my opinion and I look forward to sending her more business, as I know that she can do for my clients, what no one else can.
Eldon Whalen
PROFESSIONAL AND FRIENDLY SERVICE - HIGHLY RECOMMENDED!
As first time buyers we were very unsure of what we were doing, but Steph provided us with all the support and help we needed. Answering any questions we had, whilst being very patient and lovely in the process. Alongside her assistant Jennifer, Steph offered us a smooth end to end service, finding us a great deal and moved things along quickly for us when needed. We will definitely be returning customers when the time comes!
As first time buyers we were very unsure of what we were doing, but Steph provided us with all the support and help we needed. Answering any questions we had, whilst being very patient and lovely in the process. Alongside her assistant Jennifer, Steph offered us a smooth end to end service, finding us a great deal and moved things along quickly for us when needed. We will definitely be returning customers when the time comes!
Marie Norton and Andrew Mills
EXCEPTIONAL SERVICE
Stephanie was referred to us by our real estate agent. Everything happened so fast and only in a matter of days, Stephanie was able to help us as we didn’t have much time to remove conditions and our financing wasn’t approved yet. Stephanie along with the help and collaboration of Jennifer were able to help us out and get everything sorted in the very short time we had and by help I mean gather all the required documents (this can become a tedious task), and get me approved within a matter of days only.
It was a very stressful time and I don’t know how I would have done it without them. The quality of service provided was exceptional and we were so relieved that we were able to remove conditions on time, with my financing being fully approved and complete. Stephanie and Jennifer remained very professional throughout the whole process while being very friendly and keeping stress levels as low as possible. I would strongly recommend working with them, especially being a first time buyer, it was very important that I worked with someone who could answer many annoying questions and they both always responded to me so quickly and every time with a smile, which as a customer made me feel very comfortable and that really helped reduced my stress levels too.
In terms of negotiating the mortgage details, I will admit that after looking around, Stephanie was also able to provide me with the best interest rate available! Without asking, I was informed that a better rate was negotiated for me (what better can one ask!).
When it’s time to redo the paperwork, I can guarantee that I will be a returning customer. My experience applying for a mortgage for the very first time was very smooth, very easy and extremely professional, allowing for the best experience any first time home owner could ask for 🙂 Thank you Stephanie and Jennifer
C. Ramdoyal
Some of My Lenders
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Bank of Canada lowers policy rate to 2¼%. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario October 29, 2025 The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. With the effects of US trade actions on economic growth and inflation somewhat clearer, the Bank has returned to its usual practice of providing a projection for the global and Canadian economies in this Monetary Policy Report (MPR). Because US trade policy remains unpredictable and uncertainty is still higher than normal, this projection is subject to a wider-than-usual range of risks. While the global economy has been resilient to the historic rise in US tariffs, the impact is becoming more evident. Trade relationships are being reconfigured and ongoing trade tensions are dampening investment in many countries. In the MPR projection, the global economy slows from about 3¼% in 2025 to about 3% in 2026 and 2027. In the United States, economic activity has been strong, supported by the boom in AI investment. At the same time, employment growth has slowed and tariffs have started to push up consumer prices. Growth in the euro area is decelerating due to weaker exports and slowing domestic demand. In China, lower exports to the United States have been offset by higher exports to other countries, but business investment has weakened. Global financial conditions have eased further since July and oil prices have been fairly stable. The Canadian dollar has depreciated slightly against the US dollar. Canada’s economy contracted by 1.6% in the second quarter, reflecting a drop in exports and weak business investment amid heightened uncertainty. Meanwhile, household spending grew at a healthy pace. US trade actions and related uncertainty are having severe effects on targeted sectors including autos, steel, aluminum, and lumber. As a result, GDP growth is expected to be weak in the second half of the year. Growth will get some support from rising consumer and government spending and residential investment, and then pick up gradually as exports and business investment begin to recover. Canada’s labour market remains soft. Employment gains in September followed two months of sizeable losses. Job losses continue to build in trade-sensitive sectors and hiring has been weak across the economy. The unemployment rate remained at 7.1% in September and wage growth has slowed. Slower population growth means fewer new jobs are needed to keep the employment rate steady. The Bank projects GDP will grow by 1.2% in 2025, 1.1% in 2026 and 1.6% in 2027. On a quarterly basis, growth strengthens in 2026 after a weak second half of this year. Excess capacity in the economy is expected to persist and be taken up gradually. CPI inflation was 2.4% in September, slightly higher than the Bank had anticipated. Inflation excluding taxes was 2.9%. The Bank’s preferred measures of core inflation have been sticky around 3%. Expanding the range of indicators to include alternative measures of core inflation and the distribution of price changes among CPI components suggests underlying inflation remains around 2½%. The Bank expects inflationary pressures to ease in the months ahead and CPI inflation to remain near 2% over the projection horizon. With ongoing weakness in the economy and inflation expected to remain close to the 2% target, Governing Council decided to cut the policy rate by 25 basis points. If inflation and economic activity evolve broadly in line with the October projection, Governing Council sees the current policy rate at about the right level to keep inflation close to 2% while helping the economy through this period of structural adjustment. If the outlook changes, we are prepared to respond. Governing Council will be assessing incoming data carefully relative to the Bank’s forecast. The Canadian economy faces a difficult transition. The structural damage caused by the trade conflict reduces the capacity of the economy and adds costs. This limits the role that monetary policy can play to boost demand while maintaining low inflation. The Bank is focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. Information note The next scheduled date for announcing the overnight rate target is December 10, 2025. The Bank’s next MPR will be released on January 28, 2026. Read the October 29th, 2025 Monetary Report
Thinking About Buying a Home? Here’s What to Know Before You Start Whether you're buying your very first home or preparing for your next move, the process can feel overwhelming—especially with so many unknowns. But it doesn’t have to be. With the right guidance and preparation, you can approach your home purchase with clarity and confidence. This article will walk you through a high-level overview of what lenders look for and what you’ll need to consider in the early stages of buying a home. Once you’re ready to move forward with a pre-approval, we’ll dive into the details together. 1. Are You Credit-Ready? One of the first things a lender will evaluate is your credit history. Your credit profile helps determine your risk level—and whether you're likely to repay your mortgage as agreed. To be considered “established,” you’ll need: At least two active credit accounts (like credit cards, loans, or lines of credit) Each with a minimum limit of $2,500 Reporting for at least two years Just as important: your repayment history. Make all your payments on time, every time. A missed payment won’t usually impact your credit unless you’re 30 days or more past due—but even one slip can lower your score. 2. Is Your Income Reliable? Lenders are trusting you with hundreds of thousands of dollars, so they want to be confident that your income is stable enough to support regular mortgage payments. Salaried employees in permanent positions generally have the easiest time qualifying. If you’re self-employed, or your income includes commission, overtime, or bonuses, expect to provide at least two years’ worth of income documentation. The more predictable your income, the easier it is to qualify. 3. What’s Your Down Payment Plan? Every mortgage requires some amount of money upfront. In Canada, the minimum down payment is: 5% on the first $500,000 of the purchase price 10% on the portion above $500,000 20% for homes over $1 million You’ll also need to show proof of at least 1.5% of the purchase price for closing costs (think legal fees, appraisals, and taxes). The best source of a down payment is your own savings, supported by a 90-day history in your bank account. But gifted funds from immediate family and proceeds from a property sale are also acceptable. 4. How Much Can You Actually Afford? There’s a big difference between what you feel you can afford and what you can prove you can afford. Lenders base your approval on verifiable documentation—not assumptions. Your approval amount depends on a variety of factors, including: Income and employment history Existing debts Credit score Down payment amount Property taxes and heating costs for the home All of these factors are used to calculate your debt service ratios—a key indicator of whether your mortgage is affordable. Start Early, Plan Smart Even if you’re months (or more) away from buying, the best time to start planning is now. When you work with an independent mortgage professional, you get access to expert advice at no cost to you. We can: Review your credit profile Help you understand how lenders view your income Guide your down payment planning Determine how much you can qualify to borrow Build a roadmap if your finances need some fine-tuning If you're ready to start mapping out your home buying plan or want to know where you stand today, let’s talk. It would be a pleasure to help you get mortgage-ready.
Can You Afford That Mortgage? Let’s Talk About Debt Service Ratios One of the biggest factors lenders look at when deciding whether you qualify for a mortgage is something called your debt service ratios. It’s a financial check-up to make sure you can handle the payments—not just for your new home, but for everything else you owe as well. If you’d rather skip the math and have someone walk through this with you, that’s what I’m here for. But if you like to understand how things work behind the scenes, keep reading. We’re going to break down what these ratios are, how to calculate them, and why they matter when it comes to getting approved. What Are Debt Service Ratios? Debt service ratios measure your ability to manage your financial obligations based on your income. There are two key ratios lenders care about: Gross Debt Service (GDS) This looks at the percentage of your income that would go toward housing expenses only. Total Debt Service (TDS) This includes your housing costs plus all other debt payments—car loans, credit cards, student loans, support payments, etc. How to Calculate GDS and TDS Let’s break down the formulas. GDS Formula: (P + I + T + H + Condo Fees*) ÷ Gross Monthly Income Where: P = Principal I = Interest T = Property Taxes H = Heat Condo fees are usually calculated at 50% of the total amount TDS Formula: (GDS + Monthly Debt Payments) ÷ Gross Monthly Income These ratios tell lenders if your budget is already stretched too thin—or if you’ve got room to safely take on a mortgage. How High Is Too High? Most lenders follow maximum thresholds, especially for insured (high-ratio) mortgages. As of now, those limits are typically: GDS: Max 39% TDS: Max 44% Go above those numbers and your application could be declined, regardless of how confident you feel about your ability to manage the payments. Real-World Example Let’s say you’re earning $90,000 a year, or $7,500 a month. You find a home you love, and the monthly housing costs (mortgage payment, property tax, heat) total $1,700/month. GDS = $1,700 ÷ $7,500 = 22.7% You’re well under the 39% cap—so far, so good. Now factor in your other monthly obligations: Car loan: $300 Child support: $500 Credit card/line of credit payments: $700 Total other debt = $1,500/month Now add that to the $1,700 in housing costs: TDS = $3,200 ÷ $7,500 = 42.7% Uh oh. Even though your GDS looks great, your TDS is just over the 42% limit. That could put your mortgage approval at risk—even if you’re paying similar or higher rent now. What Can You Do? In cases like this, small adjustments can make a big difference: Consolidate or restructure your debts to lower monthly payments Reallocate part of your down payment to reduce high-interest debt Add a co-applicant to increase qualifying income Wait and build savings or credit strength before applying This is where working with an experienced mortgage professional pays off. We can look at your entire financial picture and help you make strategic moves to qualify confidently. Don’t Leave It to Chance Everyone’s situation is different, and debt service ratios aren’t something you want to guess at. The earlier you start the conversation, the more time you’ll have to improve your numbers and boost your chances of approval. If you're wondering how much home you can afford—or want help analyzing your own GDS and TDS—let’s connect. I’d be happy to walk through your numbers and help you build a solid mortgage strategy.
Stephanie Barritt
Phone: 1-604-575-2710
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