Denied by the Bank? Don’t Give Up!

Denied by the Bank? Don’t Give Up!

With the recent changes to the Canadian mortgage landscape, including the first rate increase in nearly a decade and more stringent qualification requirements, more people will have issues getting a mortgage approval this year. And sometimes even those with excellent credit ratings and significant deposits are turned away. To find out why applications get denied … Continued

Rates on the Rise

Rates on the Rise

Bank of Canada increased its overnight rate by 1/4 of a percent for the second time this year and banks were quick to follow with an increase in their prime rates. “Given elevated household indebtedness, close attention will be paid to the sensitivity of the economy to higher interest rates.” Read the Official Announcement Know … Continued

What is a Purchase Plus Improvements Mortgage?

What is a Purchase Plus Improvements Mortgage?

  Most people have never heard of a Purchase Plus Improvements Mortgage before. This is an amazing opportunity when purchasing a home that requires some renovations and updating. A Purchase Plus Improvements Mortgage allows you to buy a home and have the improvement costs rolled up into the mortgage. This means you have the money … Continued

I’m Self Employed – Can I Qualify for a Mortgage?

I’m Self Employed – Can I Qualify for a Mortgage?

  Being self-employed has plenty of benefits – working for yourself, tax write-offs, and freedom of your schedule. But when it comes to applying for a mortgage, it’s often more difficult than one would like. Regardless of what you have heard though, there are options available to help smooth over the process and get you … Continued

5 Essential Tips for First-Time Home Buyers

5-Essential-Tips-for-First-Time-Home-Buyers

Being a first-time home buyer springs an assortment of mixed emotions – excitement, anxiety, eagerness, fear – that all come with the territory when going through the buying process. And with the Canadian housing market still at the top of its peak, it’s been incredibly difficult for first-time buyers to get into the market and … Continued

New to Canada? Your Mortgage Guide

New-to-Canada-Your-Mortgage-Guide

  New to Canada? We welcome you with open arms! If purchasing a home is on the top of your list for life in this country, it will be important to learn what is involved and how you can borrow money for your new home in Canada. Let us help you familiarize yourself with the … Continued

Should You Take Out a Second Mortgage?

Should-You-Take-Out-a-Second-Mortgage

A second mortgage is another loan that has second priority behind your first mortgage. And just like your original mortgage, it uses your home as collateral. While it can be beneficial in many situations, it can also be a risk if not considered appropriately.  Here we explore the advantages and risks you should consider and … Continued

What Does “Qualifying Rate” Really Mean?

What-Does-Qualifying-Rate-Really-Mean

If you’re looking to buy a home and need to get a mortgage you will first need to qualify. Qualification gives the lender confidence that you have enough income, low enough debt, and a good enough track record of paying off debt to be a low-risk borrower. If you don’t have the conventional mortgage down … Continued

Buying a Vacation Property

Buying-a-Vacation-Property

As Canadians, we know that there’s really no greater way to spend our spare time than up at the cottage. It’s one of our most cherished past times and a good old Canadian staple. If you’re keen on the idea of buying a cottage or vacation home for you and your family to enjoy, consider … Continued