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Mortgage & Divorce/Separation
We love happily-ever-afters as much as the next person… but the unfortunate reality is that divorce happens, and it happens often. Did you know that until your divorce is finalized, you need the approval of your spouse in order to sell your current home or purchase a...
Colouring Contest
RateFair Coloring Contest Save the Jpeg to the left or download the PDF hereRatefair Colouring Sheet
What You Need to Know About the Mortgage Stress Test
On October 17, 2017, the Office of the Superintendent of Financial Institutions announced new mortgage rules, which were officially put into effect on January 1, 2018. The new regulation requires lenders to conduct a mortgage stress test, a stringent assessment of...
Pre-approvals and Pre-qualifying for a Mortgage
What You Need to Know About the Mortgage Stress Test
On October 17, 2017, the Office of the Superintendent of Financial Institutions announced new mortgage rules, which were officially put into effect on January 1, 2018. The new regulation requires lenders to conduct a mortgage stress test, a stringent assessment of...
Pre-Qualification vs Pre-Approval: What’s the Difference?
Pre-Qualification vs Pre-Approval: What's the Difference? If you've decided to ditch renting in favour of purchasing a home, it's essential that you get familiar with the process, from start to finish. Right away, you'll be bombarded with terms that may sound alien to...
Why it’s important to get pre-approved and pre-qualified for your mortgage.
The Importance of Getting Pre-Qualified and Pre-Approved for Your Mortgage Before you embark on your house-hunting adventure it's essential to have a firm idea of what the type of home you'll be able to afford. Though there is nothing wrong with daydreaming about how...
Down Payments
Borrowed Down Payment Program Offered by Genworth Canada
Saving for a down payment can be challenging. It can take many years to accumulate the funds needed, and for those who are not blessed with deep pockets, it can be downright impossible. Sometimes, the only way to obtain the funds for a down payment is through...
Traditional sources of down payment
Five Traditional Sources of Down Payment Mortgage rules in Canada require that buyers put down a minimum down payment of 5% of the sales price of a home, so once you've made the decision to purchase it's time to decide how you will obtain the necessary funds. Luckily,...
Credit
10 Ways to Repair Your Credit
Follow These 10 Tips To Repair Your Credit Most people will need a loan at some point in their lives, whether it's to purchase a home, car, or even pay for a wedding. A great credit rating is the key to being approved for a loan - if you possess a solid credit rating,...
Programs
Borrowed Down Payment Program Offered by Genworth Canada
Saving for a down payment can be challenging. It can take many years to accumulate the funds needed, and for those who are not blessed with deep pockets, it can be downright impossible. Sometimes, the only way to obtain the funds for a down payment is through...
Everything You Need to Know About the First-Time Home Buyer Incentive Program
New Mortgage Program September 2, 2019. Everything You Need to Know About the First-Time Home Buyer Incentive Program With ever-increasing stacks of bills and high levels of debt to contend with, many Canadians are struggling to gain a foothold in the housing market....
The Benefits of a Cash Back Mortgage
What is a cash back mortgage? Many people are surprised to learn that there are some additional costs that come with purchasing a home. In addition to the down payment, there are many other costs that must be accounted for, such as legal fees, landscaping,...
Lenders
A Lenders, B Lenders, and Private Lenders – Which One Should You Pick to Fund Your Mortgage?
The Difference Between a Lenders, B Lenders and Private Mortgage Lenders On January 1, 2018, the Canadian government required the major banks to conduct "stress tests" on prospective borrowers, effectively making it harder for the average household to qualify for a...
Monoline Lenders vs the Big Five Banks
Monoline Lenders vs the Big Five Banks When it comes time to select a financial institution of fund your mortgage, there's a good chance that one of these will be your choice: Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, and...
Mortgage Terms
What is Bridge Financing?
What is Bridge Financing? For most people, the first home they purchase will not be the one they will live in forever. At some point in time, they may decide to upgrade or downsize or move to a new city. The usual process is to first sell the old home and use a...
Co-Signer vs Guarantor: What’s the Difference?
Edmonton Mortgages - Co-signer vs. Guarantor With the cost of homes increasing in certain markets and the stress test in place, it's becoming more and more common for the average individual to struggle when it comes to qualifying for a mortgage. Unable to obtain...
Fixed-Rate Mortgages vs Variable-Rate Mortgages: What’s Best for You?
When looking to acquire a mortgage, the first major decision you'll have to make is whether to go for a fixed-rate or variable-rate. Both types of mortgages have their pros and cons, so it's worth exploring how they differ so that you can confidently select the one...
Property Taxes
Five Things Every Homeowner Should Know About Property Taxes
If you own your own home, there's no getting around property taxes. Property taxes are levied by municipalities to pay for local services, such as government offices, public schools, first responders, utility infrastructure, roads, and parks. These taxes are the...
Homeowner Tips & Tricks
How to Buy a New Home Before Selling Your Old One
Buying a new home involves a lot of time, effort, and planning, especially amid family and work obligations. Everything from locating your ideal home, to obtaining the right mortgage, to hiring a moving company to transport your belongings. Now compound that by having...
6 Ways to Pay off Your Mortgage Quicker
6 Ways to Pay off Your Mortgage Quicker Your mortgage is likely to be the largest debt obligation you'll have to pay down. It's not uncommon these days for homeowners to take on mortgages that will require payments for very long periods of time, even up to 25 years....
Industry Professionals
What You Need to Know About the Mortgage Stress Test
On October 17, 2017, the Office of the Superintendent of Financial Institutions announced new mortgage rules, which were officially put into effect on January 1, 2018. The new regulation requires lenders to conduct a mortgage stress test, a stringent assessment of...
The Benefits Of Hiring A Realtor When Purchasing A Home
Why use a real estate agent when home buying? Purchasing a new home is not an easy undertaking. The process involves searching for the ideal location, finding a property that meets all of your expectations, getting pre-approved from a lender, filling out endless...
Pre-Qualification vs Pre-Approval: What’s the Difference?
Pre-Qualification vs Pre-Approval: What's the Difference? If you've decided to ditch renting in favour of purchasing a home, it's essential that you get familiar with the process, from start to finish. Right away, you'll be bombarded with terms that may sound alien to...
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