Blog
Mortgage Penalties – The Good, Bad, Ugly
Five years is the standard length of a mortgage term. Once your term is up, you gain a lot of flexibility to change things up, but until then, most agreements leave little room for flexibility. Unfortunately, the life events that can prompt the need for breaking and...
How to Reach Financial Bliss Before the Holidays
As the holidays creep closer, so does the financial hangover that hits after the holiday spending spree. Taking a proactive approach to your spending- and saving, can be key to avoiding the pressure to get things back in order in the new year. Plan your holiday...
What the 2019 Federal Election Results Means for Homeowners
On October 22, Canada woke up to a new federal government that evoked a multitude of polarizing responses that differed significantly from east to west. Regardless of where you stand on the federal election’s results, there are some notable changes that homeowners and...
Bank of Canada Overnight Rate – Not just important to the big banks!
What does the Bank of Canada do? Well, that is a loaded question. A simplified answer is that it makes sure that Canada’s monetary policy is creating a safe and stable financial system for Canadians. If that already sounds like something out of a boring high school...
Is Rate King? Understanding the Importance of Fit and Affordability in Your Mortgage
When it comes to mortgages, rate is king for many existing and future homeowners-but should it be? The idea that chasing the lowest rate possible is the best strategy when choosing your mortgage is a common, but frankly misguided notion. Understanding what is a...
Financing Your Spring Renovation
Discover Your Options Spring has sprung and you are ready to refresh your home with a renovation. Before you start choosing whether you want marble or granite countertops, make sure you have made a decision on how you are going to pay for your renovations. With tons...
What The 2019-2020 Federal Budget Means For First Time Home Buyers
First Time Home Buyers Incentive Canada: Are you or someone you know… a first-time home buyer in a household with an income of less than $120,000 per year purchasing a new or existing build valued at less than 4 times the household income have a down payment of at...
Tips To Upsizing Your Home
Purchasing a home is always an exciting endeavour but for those who are upsizing, the second (or third, or fourth) time buying is different. You are more knowledgeable, you can make better decisions faster, and you’re more confident. When your lifestyle evolves to a...
Does Mortgage Payment Frequency Make A Big Difference?
When it comes to your mortgage there are a lot of options to choose from and details to go over. These can sometimes be unclear, especially if you’re a first time home buyer. Things like a fixed or variable rate might not mean anything to you right now, but that’s...
Divorce and Mortgages
Life has many unexpected twists and turns and no matter how much we plan sometimes it just doesn’t work out as we thought it would. The splitting of a partnership is never something that we see coming or plan for, so when it happens it’s easy to be caught off guard....
Mortgage Renewals: Getting Denied, Shopping For New Lenders, & Other Essentials
The time has come for you to renew your mortgage. Just like when you purchased your first home, now is the time for negotiations. Start thinking about your financial goals, it’s time to explore the process of mortgage renewals and how you can make the most out of it....
Leveraging Your Home For A Loan
Sometimes life hits us with unexpected expenses, or expenses that sneak up on us. Usually, this means that we need a loan from the bank. With all the available options of getting a loan, how do you know what it the right option for you? As a homeowner, you have the...
The Ins and Outs of a Home Improvement Mortgage
Home renovations are a hot topic when we get into the warmer months of the year. Not many people realize they can refinance their mortgage to access home equity to fund their renovation. Leveraging your mortgage for renovations isn't only for those who are already...
First Time Home Buyer’s Tax Credit
First Time Home Buyer's Tax Credit Not many people know that as a first time home buyer, you may be eligible for up to a $750 tax credit on your 2017 income taxes! This article explores the major points of this claim, however, it's always important to consult your tax...
Mortgage Renewal Process
The Mortgage Renewal Process When your mortgage term is over, it's time to begin the mortgage renewal process. Mortgage terms are usually 5 years, so at the end of your 5 years your mortgage broker should be in touch to give you information on your renewal. Remember...
10 Common Mortgage Mistakes You’re Making
10 Common Mortgage Mistakes You're Making Congratulations! You're on your way to home ownership. But have you been doing all you can to ensure the smooth sailing of your mortgage approval? From pre-approvals to small decisions, there are many factors to consider when...
Canada’s New Mortgage Rules 2018
It’s been a year since the Minister of Finance made the previous rule changes (Oct 2016) to home purchases for down payments that were less than 20%. These purchases required stress testing and to be able to debt-service at the Bank of Canada benchmark rate (which is...
Purchasing A Second Home: What You Need To Know
Purchasing a second home is becoming more and more popular amongst Canadians. A second home could be anything from a cabin getaway to a rental property. Many people have dreams of…