The Hidden Reason Your Renewal Just Got Worse | EP401

Homeowners hitting renewal right now are running into a problem nobody warned them about: their equity has quietly disappeared. Falling appraisals mean people who assumed they had room to refinance, extend their amortization, or pull equity out are finding out they don't — right when they need it most. In this episode, Kristina sits down with Mathieu "Mat" Fugere, a mortgage broker with 23 years in the business and owner of Fugere Mortgage in Milton, Ontario, to unpack what's really happening to buyers and homeowners right now.Why falling appraisals are wiping out homeowners' equity right at renewal> The "mortgage slush fund" trick to survive a renewal payment shock> How first-time buyers are actually saving their down payments> What the paperwork looks like for a gifted down payment from mom and dad> House hacking with a duplex or triplex to afford your first home> Financing a hobby farm, a rural property, or a short-term rental / AirbnbLooking for mortgage help? Connect with Mat Fugere:Website: https://www.mandmmortgages.caVIDEO SECTIONS & TIMESTAMPS0:00 – Intro0:53 – Welcome Matt Fugere, 23-year mortgage broker2:03 – Matt's family and life on the farm5:40 – Financing rural properties and hobby farms9:15 – First-time buyer down payment trends11:21 – CMHC survey: gifts and inheritance as down payments13:04 – The paperwork behind a gifted down payment15:27 – Advice for buyers without financial help17:21 – House hacking: duplexes and triplexes for first-time buyers22:14 – Qualifying rental income for house-hack properties24:10 – Renewal shock: slush funds and extended amortization30:09 – Top 3 overlooked mortgage features33:31 – Financing, managing, and investing in Airbnbs41:16 – Final advice: cut car loans, talk to your broker early46:44 – OutroWatch on YouTube:https://youtube.com/kormendytrottListen on Spotify:https://open.spotify.com/show/1pwncyet9NydbgTmx5D21kLinktree:https://linktr.ee/kormendytrottInstagram:https://instagram.com/kormendytrottYouTube:https://youtube.com/kormendytrottFacebook:https://facebook.com/kormendytrottX:https://x.com/kormendytrottLinkedIn:https://linkedin.com/company/ktrealtyTikTok:https://tiktok.com/@kormendytrottThe Kormendy Trott Team was formed in 2011 by Ariel Kormendy and Adrian Trott. Originally a team of two in Milton, Ontario, KT has grown into a full-service real estate group serving Halton Region, Peel Region, and the Greater Toronto Area.