Why Use a Real Estate Broker?

Plan on buying a home soon? Did you know that there are plenty of ways that a real estate broker can help you achieve your goal by finding the best home that meets your needs, all while ensuring your peace of mind? Below you find some of the main tasks a real estate broker performs … Read more

Bank of Canada reveals latest interest rate decision

The Bank of Canada has raised its benchmark interest rate by a quarter of a point. This is the fifth time since last summer that the Bank of Canada has pushed up the cost of borrowing for Canadians. The central bank’s target for the overnight rate is now set at 1.75 per cent. The cost … Read more

Things Not To Do Before Closing

You have worked to secure financing for your mortgage, you have a great rate and terms for it. Everything is good, all you must do is wait for advancement of funds. Sometimes you might suffer a lapse in judgement when it comes to the closing the sale of your home. It is sometimes a stressful … Read more

Unknown Benefits of Opting for a Home Refinance

If you own a home, there’s a good chance you’ll do a mortgage refinance at some point. Few borrowers stay with their original home loan for a full 30 years; most either refinance or sell the property long before the full term runs its course. When the borrower on a home loan has reached a … Read more

Should you get a shorter-term mortgage, make extra payments or something else?

When getting a home mortgage, if you can afford higher payments, often there is an option for a 15-year loan instead of one of 30-years. This can be very enticing, since you will be free of a mortgage in half the time and pay a lot less in interest. Let’s use a $200,000 mortgage as … Read more

Mortgages and Entrepreneurs

When we are talking about mortgages, most of us assume it is about families and having a stable income that can pay off the mortgage after a certain time. What is rarely talked about is mortgages and entrepreneurs and their plans; as we know being self-employed means your salary can vary monthly, versus being an … Read more

Bridge Financing, What Is It?

What is Bridge Financing? It is a useful tool made available to borrowers when the closing date of the home they are purchasing is before the closing date of the home they are selling. This is generally common in a seller’s market, buyers often explore the idea of making a firm offer without conditions, even … Read more

Why The Best Mortgage Rate May Not Always Be The Lowest

Just like when looking for a car, it isn’t always the best option to choose the cheapest one you find, it is the one that is best suited for you and your lifestyle. So just like when looking at mortgages, choosing the one with the lowest interest rates might not be the best option for … Read more

My Mortgage Application Was Denied, Now What?

Owning your home is not only a dream but a financial goal for many in Canada. However, factors like housing prices, interest rates, and new mortgage rules that came into effect have made it a little more difficult to get a home. If you have recently had your mortgage application denied you may be wondering … Read more

Mortgage Advice: How to Maximize Your Purchase Price

Heed some advice on how to best set yourself up to maximize the mortgage and purchase price you are able to afford as a buyer! When working on applications for clients, I need to take two debt servicing ratios into account. One is called the Gross Debt Servicing Ratio and the other is the Total Debt Servicing Ratio. Your GDS … Read more
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