Blog
Understanding CMHC’s Changes – Are they really a big deal?
In the last month, CMHC released significant changes to their underwriting policies, that is, how they determine if someone can get a mortgage when they purchase with less than a 20% down payment. As of July 1 st , CMHC has implemented these changes and the industry...
COVID-19 Mortgage Payment Relief: What’s Available to You
Amist some very stressful times for homeowners, we have some good news for those who are worried about making their mortgage payments. Canadian mortgage insurers are backing the current crisis and are working with our lenders to develop policies to either skip or...
Signs It’s Time to Stop Renting and Start Buying
Purchasing your first time is a big step, and when that comes with the 25-year financialcommitment of a mortgage, it’s a decision that shouldn’t be made lightly. That being said, buying your home doesn’t need to be overwhelming, especially if you know that it’s the...
To Buy New or Not to Buy New? The Pros and Cons of Buying a New or Existing Property
When looking to purchase a home, whether it’s your first or tenth, the decision to invest in a new or pre-existing build is almost always one of the first questions home buyers face. The idea of buying into the shiny and new is an attractive option, however, higher...
Down Payment 101 – A Guide to the First Step Towards Home Ownership
So, you want to buy a house?Do you have a down payment?Your down payment is one if the first steps towards home ownership, but it may also be the first hurdle to overcome. Even 5% of the value of a home can feel like a large chunk of cash and can be daunting,...
Debt Consolidation– Help Mend Your Financial Holiday Hangover
Whether you are experiencing a financial holiday hangover or a mid-year financial slump, debt can weigh heavy. Consolidating your debt can be a useful tool for people looking to reset their financial perspective and get on track towards lower payments, less debt and...
The Truth Behind the Mortgage Broker
So, you need a mortgage. Who should you go to? Your first instinct is might be to head down to the local branch of your bank- a decision you might want to reconsider. Regardless of what previous notions you have about mortgage brokers, it’s important that you...
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....