It is widely accepted that Canada is a great place to invest in real estate. It is a way to generate monthly rental income and also to build wealth over time through increases (appreciation) in the real estate market. What makes real estate very different from many...
The two main types of mortgages in Canada are Variable and Fixed. With a fixed-rate mortgage, your interest rate (and payment) stay the same throughout the term (i.e., 5-years fixed). Whereas with variable-rate mortgages, your interest rate (and payment) can fluctuate...
2020 saw the beginning of a worldwide pandemic, and with it came the halt of regular life and the beginning of a new normal. For many Canadians, this new normal meant saying farewell to commuting to the office in favour of working-from-home. With the fall months...
The global pandemic has caused unforeseen financial turmoil for many Canadians. We have all been staying at home and, many of us have experienced layoffs and pay cuts. If you are interested in purchasing a home this year, it is especially wise to spend some time...
So much has changed over the past several months that it should be no surprise that getting a mortgage has also changed. Even with the economy reopening, mortgage lenders are becoming shy about qualifying new mortgage applications. Record-low mortgage rates and the...
Year over year we see an increase in the total number of self-employed Canadians. In 2020 it was expected that nearly 20% of the workforce would make their primary source of income from self-employment. Introduce in a global pandemic, rising unemployment, an economy...
This has been a trying time both emotionally and financially for many people who may have seen their income reduced or eliminated entirely as a result of the COVID 19 pandemic. Mortgages are often the largest bill you have to pay each month, and therefore can be...
What Changes to the Minimum Mortgage Stress Test Rate Means to Potential Homebuyers Getting a mortgage in Canada is about to get a little bit easier when the Department of Finance’s criteria for mortgage approval (the mortgage stress test) changes in April. This is...
Why a Mortgage Pre-Approval is an Important First Step As the real estate market heats up in Burlington, Hamilton, and Oakville this spring, be prepared to see more homes for sale (inventory) but also more people looking to buy (competition). If you’re planning to...
If you ask a mortgage broker “Why should I use a mortgage broker?” you had better clear your calendar for the rest of the day. A good mortgage broker knows and can clearly define the many benefits they can provide their clients. I for one am definitely passionate...
