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

Surviving Until Closing Day

Surviving-Until-Closing-Day

When you sell your home, you will typically want to set an ideal closing date – one that allows you to move from your old home into your new home on the same day. Unfortunately, it doesn’t always happen this way and you may have a few days or even weeks before you can move … Continued

Simplify and Save with Debt Consolidation

Simplify and Save with Debt Consolidation

Finding it difficult to pay down your debts? You’re not alone. If you have multiple loans or credit cards, you could be paying much more than you need to. By consolidating your balances to a single line of credit, you can not only save on interest costs, but better manage your money as well. Here … Continued

Accessing Home Equity to Finance a Home Reno

Accessing Home Equity to Finance a Home Reno

Do you want to add an ensuite? Finish the basement? Give the kitchen a makeover? A home renovation is an excellent way to increase the functionality of your home while also giving a boost to its value, but most homeowners don’t have cash on hand to pay for upgrades out of pocket. That doesn’t mean … Continued

Suburban or Urban Living?

Suburban or Urban Living?

When it’s time to move, you can be faced with many options. The whole process of deciding on a location can be quite overwhelming. A condo in the ByWard Market, close to all the action and within walking distance of work? A freehold home in Westboro, with endless character? A new build townhome in family-friendly … Continued

Steer Your House Shopping

Steer Your House Shopping

When it’s time to purchase a home, it’s easy to get caught up in looking at places that are well outside of your budget. It is, after all, going to be the place where you and your family spend the most amount of time, so naturally you want to love it. And although it may … Continued

Is It Worth Avoiding Mortgage Insurance?

Is It Worth Avoiding Mortgage Insurance?

Mortgage insurance is an extra premium applied to any mortgage purchased with 5% to 19.99% down payment. Also known as mortgage default insurance, mortgage loan insurance, or CMHC insurance, this premium helps to mitigate risks for lenders and helps home buyers who otherwise would not be able to purchase a property qualify for homeownership. As … Continued