Mortgage

Securing a mortgage in Canada has become increasingly challenging due to rising home prices and high interest rates. However, leveraging rental income can improve your chances of getting approved and even help you qualify for a larger loan. If you own a rental property or plan to generate rental income Read more…

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 Read more…

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 Read more…

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 Read more…

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 Read more…

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 both mortgage rates and approval possibilities.  The rates you obtain and whether you are approved for a mortgage can be greatly Read more…

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 simply because people feel daunted knowing they need to keep making monthly payments for years to come.  Prepayment is a good Read more…

Getting a mortgage in Ontario can be a challenging process with several detailed steps included. Underwriting is one of the significant processes that must be followed before you get approved. As a borrower, you may not be aware of this step as this is what stays behind the scenes. Professional Read more…

When you make the decision to move to a new home, you might be worried about the status of your existing mortgage. The viable option of “porting” your mortgage—moving to a new home and bringing your present mortgage terms and interest rates with you—is possible. Let’s check the pros, cons, Read more…

Have you ever been asked to co-sign someone’s mortgage by a friend or relative? Though it could be a charming way of enabling them to realize their dream of homeownership, it’s not a choice that needs to be made impatiently. In Canada, co-signing a mortgage has serious obligations and threats Read more…