In today’s market, securing the lowest mortgage rate is critical in determining the affordability and cost of owning a home. A lower rate means reducing your monthly payments. This can significantly impact your costs and overall financial stability for several years....
What will happen to mortgage rates over the next 1-5 years is our client’s top concern lately. The economy seems to be in a “will they, won’t they” relationship with interest rates. The only thing that seems to be certain today is uncertainty. So where does that leave...
There might come a time when you want to consider reverse mortgages in Ontario. If you own your own home, intend to stay in it for a while, and meet the age requirements, a reverse mortgage could be a great way to bring in a little extra income. But before you make a...
Let’s face it – maintaining a great credit rating can be hard, leaving many to search for a “bad credit mortgage.” A bad credit mortgage is simply that – a mortgage for people whose credit score is low. Typically, the big lenders only want to lend to people with good...
If you’re searching for “Burlington mortgage rates,” it may be because you are concerned about rising interest rates. Interest rates are on all homeowners’ minds right now – especially if they are buying a new home, getting ready to renew/refinance, or have a variable...
When calculating the cost of a home or real estate investment purchase, many clients ask: is mortgage insurance mandatory in Ontario? The short answer is no, the longer answer is: it depends. There are also three separate types of insurance that need to be considered...
If you are one of the estimated 2.6 million self-employed Canadians and you are considering purchasing a new home or a business loan for real estate investment property, you may be wondering about self-employed mortgage rates. The number of self-employed Canadians has...
When you’re in the market for a home, you’re also usually in the market for a mortgage. There are two main types of mortgage in Canada: fixed vs variable rate mortgage. While they each have their pros and cons, there isn’t one right choice. You’ll have to weigh their...
Buying an investment property can be a great way to invest in your future. Regular monthly rental income might add to your cash flow while paying for the property and increasing your equity. But to make the wisest decision, start by asking yourself the following five...
From filling out the application to signing the papers at closing time, it usually takes two to six weeks to approve and finalize (fund) a mortgage. In today's fast-paced world, that may seem like an eternity. However, mortgages are complex legal agreements. The...
Saving up money for a down payment is not easy for some prospective homebuyers. Rising home prices and tight mortgage qualification rules don't help. On a home with a sale price of over $1 million, you'll need to put 20% down to get a mortgage from a regulated...
It finally happened. On March 2nd, 2022 the Bank of Canada raised the prime interest rate by 0.25%. This means that for people with a variable rate mortgage the cost of borrowing has started to increase from where it bottomed out at the start of the pandemic. However,...
