Stuart Lessels's Mortgage Blog | Expert Advice for Ontario Homebuyers - Mortgage Alliance
Logo

Perspective Change

Stuart Lessels
August 14, 2025

Change Your Perspective — Change Your Mortgage

By Stuart Lessels — Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca  |  📞 (705) 445-1234


It’s not every day you take a Zoom call from the middle of Georgian Bay.


But there I was — literally sitting in the water, phone in hand — listening to a speaker talk about personal growth. The advice? “Change your environment to refresh your perspective.”


I figured, why not test that theory in real time? So I stayed right where I was, waves lapping around me, sun on my shoulders… and you know what? It worked.


That small shift — stepping out of my office and into the lake — did more than clear my head. It reminded me that the best decisions often come after we change how we look at things.


💡 The Mortgage Lesson From a Lake

We’re creatures of habit. We sign a mortgage, set up the payments, and then… forget about it until renewal (and sometimes even then).

But your mortgage should evolve with your life — not the other way around. If your income changed, your goals shifted, or your home value grew, it’s worth a fresh look.


A perspective shift could mean:

  • Refinancing to reduce your payment or shorten your amortization.
  • Switching lenders for a better fit on prepayments, portability, or penalties.
  • Tapping into equity (HELOC or refinance) for renovations, investing, or education.
  • Consolidating high-interest debt into a lower-rate mortgage (with a plan to stay out of it).

🎥 Watch: The 1‑Minute Georgian Bay Video

Yes, I really filmed this from the water. It’s a quick reminder that changing your environment can change your thinking.

Watch my 1‑minute Georgian Bay Perspective’


🏠 What to Review in Your Mortgage (Quick Checklist)

  • Rate & Term: Where are you today vs. what’s available? Don’t forget penalties if you break early.
  • Amortization: Could re-amortizing lower your monthly stress — or could shortening save long‑term interest?
  • Prepayment Privileges: Can you make lump-sums or increase payments without penalty?
  • Portability: Planning a move? A portable mortgage can save thousands.
  • Penalties: Know the cost to switch. Sometimes the math still works in your favour.
  • Cash Flow: Are variable expenses (debt, daycare, car) changing? Align mortgage payments smartly.


📊 Ontario Context (Why This Matters Now)

Affordability is still tight for many households, and bond yields have been volatile — both influence fixed mortgage rates.

Inventory in many Ontario markets remains patchy while long‑term housing demand is strong, supporting values over time.

Translation: If you’re squeezed or sitting on idle equity, reviewing your mortgage now can relieve pressure or unlock opportunities.


🧭 For First‑Time Buyers

  • Start with a budget, then a pre‑approval. Get clarity on your cap — and your comfort zone.
  • Ask about rate holds and conditions. A 90‑ to 120‑day hold can protect you during a search.
  • Plan for closing costs (legal, land transfer, adjustments, inspection) and a small emergency buffer.
  • Consider a stepped strategy: buy something solid now, build equity, then leap to the dream home.


🏗️ For Renovators & Upgraders

  • Refinance or HELOC? Refi may lower the blended rate; HELOC gives flexibility for staged projects.
  • Renovation ROI: Kitchens, baths, energy upgrades, and strategic additions tend to add the most value.
  • Think cash‑flow. Keep payments sustainable while materials/labour costs fluctuate.


💼 For Investors (Simple & Practical)

  • Run the numbers with vacancies, repairs, and rising taxes baked in.
  • Look at debt‑coverage and cash‑on‑cash — not just appreciation hopes.
  • Financing tip: Lender policies differ on rental income add‑backs; structure your file strategically.


🧩 Action Steps You Can Take Today

  1. Check your renewal date. If it’s inside 12 months, start comparing options now.
  2. Request a quick value check. Know your equity to know your choices.
  3. Do a debt scan. Consolidate high‑interest balances only with a clear payoff plan.
  4. Ask for flexibility. Portability, prepayments, and rate holds can be negotiated.


👋 Final Word

A mortgage isn’t set‑and‑forget — it’s a living part of your financial plan.

Sometimes the clearest view comes when you change the scenery. (Ahem… even if that scenery is the middle of Georgian Bay.)

If you’re ready to explore your options — from your desk, your dock, or the bay — I’m here to help.


🔗 Sources & Further Reading

—

Stuart Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca  |  📞 (705) 445-1234