Richelle Morgan
Kingston Mortgage Solutions
Contact Info:
About
Awards and Certifications:
Silver Award
2023 Most Improved Agent
Amethyst Award
Explore Our Services
Preview Our Rates
Access all your mortgage options with just one application. Preview today's rates first:
Blog
A case for providing your kids with an early inheritance
February 06, 2026
In her recent newsletter, Janine Rogan, CPA of The Wealth Building Academy, had a great point about inheritances arriving 30 years too late.
She mentions that she plans to pass wealth to her kid at major milestones in his life rather than in her Will. I'm seeing this happen more and more as the Baby Boomer Generation ages. They want to see their child enjoying the wealth now. After all, providing your kid with help for a down payment on a home is much more rewarding than leaving them the money during their retirement years.
She says, "76% of parents intend to help, but many are paralyzed by:
- Financial Insecurity: The fear of outliving their money (even when the math says they won't).
- Spending Patterns: Forgetting that spending usually drops significantly after age 75.
- Control: The emotional attachment to the number in the bank."
Another form of wealth is the equity in their home. Most of that generation bought homes when prices were drastically lower than today's prices (yes, Dad, interest rates were much higher, I know) and have been mortgage-free for decades. A reverse mortgage could be a great way to access that equity without impacting financial security or touching that number in the bank. There are no payments, and there is a no-negative equity guarantee. With 41% of first-time homebuyers receiving a gift from family as part of their down payment in 2025, early transfer of generational wealth is a huge help for young people looking to buy a home.
While reverse mortgages are not the right fit for everyone, it might be worth starting a conversation. There are a lot of myths and misconceptions out there.
Bank of Canada rate update - January 2026
January 28, 2026
The Bank of Canada decided to hold interest rates today, which means there was no change to the overnight rate. It remains at 2.25%. This is good news for many homeowners and buyers. Holding rates brings stability, and that’s helpful when planning your finances.
The Bank shared that inflation is staying close to its 2% target, which is a good sign. While there are still some global uncertainties, Canada’s economy is showing steady progress, and the Bank feels today’s rate level is appropriate for now.
Bank of Canada Governor Tiff Macklem said the economy is showing resilience, even with some challenges. Because of that, the Bank wants more time and information before making its next move.
If you have a fixed-rate mortgage, nothing changes. If you have a variable-rate mortgage, your rate stays the same. If you’re thinking about buying, renewing, or refinancing, this pause gives us time to plan carefully and make smart choices. Some experts believe the Bank could begin cutting rates later this year if the economy needs more support. Others think the Bank is being cautious, and that caution helps avoid sudden changes that can catch homeowners off guard.
Right now, the best move is to stay informed and have a plan. Everyone’s situation is different, and small timing decisions can make a big difference. If you’re coming up for renewal, thinking about making a move, or just want to understand how this affects your mortgage, I’m always happy to talk it through with you.
The next Bank of Canada rate announcement is scheduled for March 18, 2026.
Silver Winner - 2026 Best of Kingston and Area
January 12, 2026
Thanks to everyone who voted for me in the Best of Kingston and Area Mortgage Broker category. I'm happy to announce that I received the Silver Award for 2026!
You can view all the area winners on the My Broadcasting Corporation website.
Your Complete Guide to the Home Purchase Mortgage Process
January 12, 2026
Buying a home is one of life’s biggest milestones — and one of the largest financial decisions you’ll ever make. It’s exciting, but it can also feel overwhelming if you’re trying to navigate the mortgage process alone.
The good news? You don’t have to.
My role is to guide you through every step so you always know what’s happening, what comes next, and what your choices are. Here is a simple breakdown of the mortgage journey from application to moving into your new home.
Step 1 – Your Application
This is where everything begins.
We’ll review:
- income and employment
- debts and credit
- down payment
- property goals
You can complete the application online, and then I’ll review it personally. My goal isn’t just approval — it’s making sure the mortgage fits your life and long-term plans.
Step 2 – Collecting Your Documents
Once your application is submitted, I’ll request supporting documents such as:
- ID
- income verification
- bank statements for down payment proof
I’ll tell you exactly what is needed and why, and I’m here to help if anything is confusing.
Step 3 – Pre-Approval & Rate Hold
A pre-approval gives you confidence when you shop for a home.
You’ll know:
- your approved purchase price
- estimated monthly payments
- maximum mortgage amount
- rate options
This step is empowering — it turns “dreaming” into “planning.”
Step 4 – Live Offer & Lender Submission
Once you find the right home, we move fast.
I’ll submit your file to a lender that fits your situation, goals, and comfort level. I advocate for you, communicate on your behalf, and keep you informed the entire time.
Step 5 – Conditional Approval
The lender may request:
- more documents
- appraisal
- property details
Think of me as your project manager — I make sure nothing is missed and everything stays on track.
Step 6 – Closing Day
This is the fun part 🎉
Your lawyer finalizes paperwork, your lender advances the funds, and you get the keys to your new home.
I’ll also check in after closing because my relationship with clients doesn’t end at possession day — it begins there.
Final Thought
You deserve clarity, comfort, and support throughout your mortgage experience.
If you’re thinking about buying a home — whether soon or “someday” — reach out. We can start with a conversation, no pressure and no sales pitch.
I’m here when you’re ready.
Stay Connected
Subscribe to our Newsletter and you'll stay up to date on rates that help you save thousands in interest.