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....
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...
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...
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....
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...
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,...
Extended 30-Year Amortizations: A Game Changer for First-Time Buyers and New Build Purchases
Beginning on December 15, 2024, the Canadian housing market is about to undergo a dramatic transformation. The federal government has declared that 30-year amortizations on insured mortgages will be...
Stress Test Removal for Uninsured Mortgage Switches: What It Means for Canadian Borrowers
Starting November 21, 2024, Canada’s banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), will eliminate the Minimum Qualifying Rate (MQR) requirement for straight switches of uninsured...
The Impact of Property Location on Mortgage Rates and Approval
Price, interest rates, and financial preparedness are some of the main considerations for many Ontario homebuyers. However, the location of the home is a crucial factor that frequently influences...
The Benefits of Mortgage Prepayment
For the majority of people managing their finances is crucial and getting rid of a mortgage is probably one of the greatest commitments they wish to achieve. This is...
Advantages and Disadvantages of Buying an Existing Home
One of the main choices you’ll have to make when thinking about buying a house is whether to acquire an existing one or go with a new one. Purchasing...
Purchasing an Existing Home vs. a New Build Home
One of the first choices you’ll have to make when purchasing a house in Ontario is whether to buy an existing one or a freshly constructed one. Knowing the...