Sandra's Mortgage Blog
A Beginner’s Guide to Investment Mortgages
Investing in real estate is one of the most popular ways to build wealth, but securing the right mortgage for an investment property differs from financing a primary residence. If you’re new to investment mortgages in Canada, understanding the key requirements, benefits, risks, and strategies can help you make informed
The Impact of Mortgage Stress Tests: Tips to Qualify in Today’s Market
The federal government uses the mortgage stress test as a safety measure to ensure that homebuyers can continue making their mortgage payments even if interest rates increase. Both insured and uninsured mortgages are subject to the stress test, which was first implemented in 2018 and is overseen by the Office
The Role of Spousal Buyouts in Divorce: How a Mortgage Broker Can Help
Divorce or separation is a life-changing event that frequently results in financial difficulties, especially when it comes to distributing joint assets such as the family house. A spousal buyout can be an efficient way for one partner to maintain property ownership while compensating the other. However, this approach needs a
Breaking Down Mortgage Penalties: What You Need to Know Before Breaking Your Mortgage
Flexibility is an essential factor in homeownership. Life is full of unexpected events and circumstances, such as relocating for a new position or refinancing to benefit from lower rates. In these cases, you may need to terminate your mortgage agreement sooner than required. However, before you choose to do it
Refinancing for Secondary Suites – A Homeowner’s Perspective
A significant new financial option will be available to Canadian homeowners on January 15, 2025: the possibility to refinance up to 90% of the value of their home using default-insured mortgages to build secondary suites. Supporting homeowners in the face of growing expenses and increasing the supply of rental units
The New $1.5 Million Insured Mortgage Cap: A Game-Changer for Homebuyers in Canada
Canada’s housing market will majorly shift on December 15, 2024, when the federal government raises the insured mortgage ceiling to $1.5 million. This change aims to increase buyer opportunities, especially in places where growing housing prices have made ownership increasingly unaffordable. Despite these restrictions, the program is positioned to help